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Commercial insurance premium rates continue to drop

By: Donna Mahoney

Published July 29, 2015 - 3:07pm CST

Commercial insurance rates dropped in the second quarter of 2015, according to The Council of Insurance Agents & Brokers' quarterly Commercial P/C Index Survey released Wednesday.

Cyber coverage suite protects small to mid-size firms

Published July 29, 2015 - 11:39am CST

The Hanover Insurance Group Inc. has launched a suite of cyber products designed to protect small to mid-size businesses from cyber attack and data breach related losses, the insurer said Monday.

Marine losses, investment income mire Axis second-quarter profit

By: Mark A. Hofmann

Published July 29, 2015 - 11:36am CST

Axis Capital Holdings Ltd.’s second-quarter net income dropped 67% from that of the same period a year earlier to $63 million, owing in part to marine losses and lower investment income, the Pembroke, Bermuda-based underwriter reported.

RenaissanceRe profit down 39% for the quarter

By: Mark A. Hofmann

Published July 29, 2015 - 10:30am CST

Lower investment income and higher catastrophe costs helped drive RenaissanceRe Holdings Ltd.’s second-quarter 2015 net income down 39.4% from the same period a year earlier to $73.2 million, the Pembroke, Bermuda-based reinsurer said.

Zurich says any RSA offer probably would be in cash

By: Sarah Veysey

Published July 29, 2015 - 9:52am CST

Zurich Insurance Group Ltd. said Wednesday that any offer it may make for RSA Insurance Group P.L.C. likely would be made solely in cash.

Hartford posts second-quarter profit

By: Donna Mahoney

Published July 28, 2015 - 3:11pm CST

Hartford Financial Services Group Inc. posted a profit of $413 million for the second quarter of 2015 compared with a loss of $467 million in the second quarter of 2014.

Feds ask AIG for more resolution plan details

By: Mark A. Hofmann

Published July 28, 2015 - 3:00pm CST

Federal regulators have asked American International Group Inc. and two other companies to provide more information about their resolution plans.

Validus Americas appoints president to run its MGA

By: Joyce Famakinwa

Published July 28, 2015 - 12:59pm CST

Validus Re, the reinsurance division of Validus Holdings Ltd., said it has appointed James Franson president of Validus Americas, Validus Re’s Boston-based managing general agent, which underwrites for its Swiss reinsurance company.

Oil train insurance minimums in question

By: Donna Mahoney

Published July 28, 2015 - 12:54pm CST

A little more than two years have passed since an unattended runaway train from the now-bankrupt Montreal, Maine & Atlantic Railway Co. derailed and crashed, spilling oil that caught fire in Lac-Mégantic, Quebec, and killing 47 people.

Ace outlines leadership changes on Chubb acquisition

By: Matthew Lerner

Published July 28, 2015 - 12:33pm CST

Ace Ltd. on Tuesday said it has reorganized the leadership team for its North American insurance operations to take effect upon completion of its acquisition of Chubb Corp.

Everest Re profit down on natural catastrophe losses

By: Stephanie Goldberg

Published July 28, 2015 - 12:22pm CST

Everest Re Group Ltd. reported second-quarter net income of $209.1 million, a 27.9% decrease from the same period last year, due to weather-related losses and “challenging” market conditions.

Proxy firms advise PartnerRe shareholders to accept Exor offer

By: Matthew Lerner

Published July 28, 2015 - 11:27am CST

Two leading proxy advisory firms have recommended that PartnerRe Ltd. accept a cash buyout rather than approve a merger with Axis Capital Holdings Ltd. — but they also told Axis shareholders to vote for the merger.

Aspen profit plunges in second quarter

By: Sarah Veysey

Published July 28, 2015 - 10:07am CST

Aspen Insurance Holdings Ltd. on Tuesday posted net income of $49.0 million for the second quarter of 2015, a 62.5% drop compared with the second quarter of 2014.

Zurich mulls offer for RSA Insurance

By: Sarah Veysey

Published July 28, 2015 - 9:15am CST

Zurich Insurance Group Ltd. said Tuesday it is evaluating a potential offer for London-based multiline insurer RSA Insurance Group P.L.C.

Investment drop batters Berkley’s second quarter profit

By: Matthew Lerner

Published July 27, 2015 - 4:45pm CST

Second quarter net income was off 31.9% to $123.0 million for Greenwich, Connecticut-based insurer W.R. Berkley Corp. as net investment gains plummeted and expenses rose for the quarter.

Hiscox reports first-half profit increase

By: Judy Greenwald

Published July 27, 2015 - 2:42pm CST

Hiscox Ltd. reported pretax profit of £135.1 million ($209.5 million), an 8.4% increase from 2014's first half, although future results could hinge on the upcoming hurricane season, the insurer and reinsurer said Monday.

Chinese firm to acquire international unit of American insurer

By: Sarah Veysey

Published July 27, 2015 - 9:36am CST

Hanover, New Hampshire-based White Mountains Insurance Group Ltd. on Monday said it has sold its property/casualty reinsurance and insurance unit Sirius International Insurance Group Ltd. to CM International Holding Pte. Ltd.

West African brokerage joins Worldwide Broker Network

By: Joyce Famakinwa

Published July 24, 2015 - 3:54pm CST

Worldwide Broker Network said Friday that Lagos, Nigeria-based broker Ark Insurance Brokers Ltd. has joined their network of independent insurance brokerage firms.

Guy Carpenter launches latest reserve risk modeling tool

By: Joyce Famakinwa

Published July 24, 2015 - 2:48pm CST

Risk and reinsurance specialist Guy Carpenter & Co. L.L.C. has launched the latest version of its reserve risk modeling tool MetaRisk Reserve 4.5.

Chubb's second quarter income dips

By: Judy Greenwald

Published July 23, 2015 - 4:51pm CST

Chubb Corp. reported net income of $494 million for 2015's second quarter, down slightly from $499 million a year earlier.

Insurance broker expands into Colorado Rockies

By: Joyce Famakinwa

Published July 23, 2015 - 11:29am CST

AssuredPartners Inc. on Thursday said it has acquired Denver-based Peliton Insurance and Peliton Benefits from Peliton L.L.C.

Allied World profit dives in second quarter

By: Matthew Lerner

Published July 23, 2015 - 10:19am CST

Second-quarter 2015 net income at Allied World Assurance Co. Holdings A.G. plunged to $9.5 million from $151.9 million a year ago, the Zug, Switzerland-based insurer said.

Ace quarterly profit rises nearly 21%

By: Shelby Livingston

Published July 22, 2015 - 6:00am CST

Ace Ltd. posted strong 2015 second-quarter results driven by an increase in premiums written and a strong dollar, the insurer said.

Travelers profit up 18.9% on lower catastrophe losses

By: Donna Mahoney

Published July 21, 2015 - 2:29pm CST

Strong underwriting results and lower natural catastrophe losses boosted Travelers Cos. Inc.’s 2015 second-quarter profit 18.9% over the prior-year period to $812 million, Travelers reported Tuesday.

Partnership assesses policyholders' cyber threats

By: Joyce Famakinwa

Published July 21, 2015 - 2:17pm CST

Specialty lines underwriter CFC Underwriting Ltd. has teamed up with cyber security ratings firm BitSight Technologies Inc. to offer a product to assess policyholders’ cyber threats.

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