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AIG strikes deal with Icahn, posts bigger-than-expected loss

By: Thomson Reuters

Published February 11, 2016 - 3:59pm CST

AIG capitulated in its boardroom fight with activist investor Carl Icahn, nominating both his representative and billionaire John Paulson to its board, as it unveiled a bigger-than-expected quarterly loss.

QBE North America names financial institutions practice leader

By: Joyce Famakinwa

Published February 11, 2016 - 1:31pm CST

QBE North America, a unit of QBE Insurance Group Ltd., on Thursday said Dennis Kearns, senior vice president and underwriting leader, will lead its financial institutions practice in addition to his current role leading the transactional liability practice.

Law firm scoops up London insurance expert O'Connell

By: Mark A. Hofmann

Published February 11, 2016 - 12:21pm CST

Legal expert Clive O'Connell has joined London law firm McCarthy Denning Ltd. as head of insurance and reinsurance.

Zurich profit tumbles amid ongoing challenges

By: Thomson Reuters

Published February 11, 2016 - 9:16am CST

Incoming Chief Executive Mario Greco has an arduous road ahead.

Weak rates, strong dollar hit Arch results

By: Donna Mahoney

Published February 10, 2016 - 2:15pm CST

Arch Capital Group Ltd. on Tuesday reported a steep drop in 2015 fourth-quarter profits and lower revenues amid a continued soft market.

Privatizing flood insurance a 'priority' for House finance committee

By: Mark A. Hofmann

Published February 10, 2016 - 1:57pm CST

WASHINGTON — Consideration of a bill that would encourage private insurers to enter the flood insurance market is a “priority” for the House Financial Services Committee, the chairman of the panel said Wednesday.

Arizona insurance department names interim director

By: Joyce Famakinwa

Published February 10, 2016 - 1:06pm CST

Leslie Hess has been named interim director of the Arizona Department of Insurance.

Uncertainty looms for Lloyd's as U.K. considers E.U. exit

By: Sarah Veysey

Published February 10, 2016 - 9:49am CST

A U.K. exit from the European Union would create uncertainty for Lloyd's of London and the wider London insurance market, Sean McGovern, chief risk officer and general counsel of Lloyd's, said Wednesday.

Generali chairman named interim CEO

By: Sarah Veysey

Published February 10, 2016 - 9:20am CST

Assicurazioni Generali S.p.A. has named Gabriele Galateri di Genola interim CEO until a replacement for Mario Greco is found, the Trieste, Italy-based insurer announced Tuesday.

Northern Hemisphere storm losses could reach $4 billion

By: Matthew Lerner

Published February 09, 2016 - 2:39pm CST

Harsh winter weather for the northern half of the globe may have cost the worldwide economy up to $4 billon in economic losses, according to a report released Tuesday by Impact Forecasting, Aon Benfield Group Ltd.'s catastrophe model development team.

Hilb buys Massachusetts agency

By: Joyce Famakinwa

Published February 09, 2016 - 2:22pm CST

The Hilb Group L.L.C. said on Tuesday that it has acquired Hyannis, Massachusetts-based Dowling & O’Neil Insurance Agency Inc.

Corporate raider takes on Italy's old guard in Generali CEO search

By: Thomson Reuters

Published February 09, 2016 - 1:49pm CST

(Reuters) — French corporate raider Vincent Bollore is making his influence felt in corporate Italy by defying the country's old guard in choosing a replacement for Mario Greco as CEO of Assicurazioni Generali S.p.A.

AIG unit must help pay costs of policyholder's defense

By: Judy Greenwald

Published February 09, 2016 - 1:20pm CST

Although it was acting as a fronting insurer, an appeals court has ruled that the unit still had a duty to help defend a paint manufacturer.

Endurance targets large account insurance sector

By: Matthew Lerner

Published February 09, 2016 - 12:13pm CST

A former Chubb executive has been hired to lead the push.

Best investment gains in years aided property/casualty insurers in third quarter of 2015

By: Matthew Lerner

Published February 09, 2016 - 11:27am CST

In the first nine months of the year, U.S. insurers saw double-digit profitability.

Broker revenue growth hits speed bump

By: Mark A. Hofmann

Published February 09, 2016 - 11:13am CST

According to a new Reagan Consulting Inc. survey, three key factors contributed to the slowing of organic growth and profitability.

Colleagues praise insurance institute's outgoing president Hartwig

By: Mark A. Hofmann

Published February 09, 2016 - 11:06am CST

After 18 successful years with organization, Robert Hartwig prepares to carry risk management and insurance lessons to students at the University of South Carolina's business school.

NAIC fills vacant senior position

By: Joyce Famakinwa

Published February 09, 2016 - 10:45am CST

The National Association of Insurance Commissioners said on Monday that its members have elected Madison, Wisconsin-based Ted Nickel to fill the vacant president-elect position.

London market M&A activity expected to proceed in 2016

By: Sarah Veysey

Published February 09, 2016 - 10:16am CST

Mergers and acquisitions among London market insurers and reinsurers likely will continue in 2016, according to Fitch Ratings Ltd. in London.

Guernsey sees increase in captives, insurers

By: Sarah Veysey

Published February 09, 2016 - 9:57am CST

The number of international insurance entities, including captive cells, licensed in Guernsey increased to 804 at the end of 2015 compared with 797 in 2014, according to statistics from the Guernsey Financial Services Commission.

Swiss Re, Veolia partner on New Orleans resilience project

By: Thomson Reuters

Published February 09, 2016 - 9:49am CST

(Reuters) — French water and waste group Veolia said on Tuesday it is in talks to install a flood prevention system in the city of New Orleans that was devastated by Hurricane Katrina in 2005.

Scor sees positive signs in January reinsurance renewals

By: Sarah Veysey

Published February 09, 2016 - 9:42am CST

The reinsurance market shows some signs of leveling out, according to Paris-based reinsurer Scor S.E., which said Tuesday that risk-adjusted rates fell by 1% at the Jan. 1 renewal.

Festival visitors who parked on lake get cold reception

Published February 09, 2016 - 9:41am CST

A number of festival goers reportedly were left out in the cold over the weekend when their cars fell into Wisconsin's Lake Geneva during a winter festival.

History of insurance moves

Published February 09, 2016 - 12:01am CST

If AIG does undertake a major downsizing, it will hardly be the first in the insurance industry to do so. Business Insurance takes a look at recent moves.

CNA swings to loss in 2015 fourth quarter

By: Judy Greenwald

Published February 08, 2016 - 2:29pm CST

Lower results in its property/casualty operations and a charge to its long-term care business are to blame.

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