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Endurance logs quarterly profit despite investment results lag

By: Gloria Gonzalez

Published May 03, 2016 - 2:18pm CST

Endurance Specialty Holdings Ltd. reported higher profits and premiums in the first quarter of 2016 following last year’s acquisition of Montpelier Re Holdings Ltd., but said it is taking steps to correct for losses in its investment portfolio.

FM Global clients offered another round of membership credits

By: Mark A. Hofmann

Published May 03, 2016 - 12:03pm CST

FM Global clients will receive a membership credit for the ninth time since the program was introduced in 2001, the Johnston, Rhode Island-based insurer announced Tuesday.

Brit taps XL exec to float new U.S. marine team

By: Joyce Famakinwa

Published May 03, 2016 - 11:59am CST

Brit Ltd. said that it has named New York-based Tom Carroll to launch a marine business unit for Brit Global Specialty USA.

Multi-state nonadmitted insurer group to dissolve

By: Mark A. Hofmann

Published May 03, 2016 - 11:47am CST

The Board of Directors of the Non-Admitted Insurance Multi-State Association Inc. has voted to dissolve the organization.

CEO: AIG 'on track' despite $183 million 1Q loss

By: Mark A. Hofmann

Published May 03, 2016 - 10:47am CST

Weak investment income, large catastrophe losses hurt insurer though analysts agree it's making progress in its turnaround.

Former AIG exec to head QBE's North American unit

By: Rob Lenihan

Published May 03, 2016 - 10:43am CST

Russell Johnston will succeed retiring executive David Duclos as CEO of QBE North America on May 31.

AIG profit misses expectations for 3rd straight quarter

By: Thomson Reuters

Published May 02, 2016 - 4:18pm CST

The insurer reported a lower-than-expected quarterly operating profit as income from underwriting and returns on investments declined.

CNA profit hit by accounting charge

By: Judy Greenwald

Published May 02, 2016 - 2:26pm CST

CNA Financial Corp. reported lower profit for the first quarter, but an improved combined ratio in its property/casualty operation.

Prime Risk Partners to acquire independent agency

By: Joyce Famakinwa

Published May 02, 2016 - 12:23pm CST

Prime Risk Partners Inc. said on Monday that it will acquire Indianapolis-based independent insurance agency Old National Insurance.

Leaders discuss cyber risks and strategic planning during Risk Manager of the Year event

Published April 29, 2016 - 2:19pm CST

Risk Manager of the Year events panelists discussed the importance of data analytics and retaining young talent.

Interest rate, reinsurance price pressure trip Swiss Re in 1Q

By: Gloria Gonzalez

Published April 29, 2016 - 2:17pm CST

Swiss Re Ltd. reported lower net income in the first quarter of 2016 amid low interest rates and declining reinsurance prices, but saw gains in premium income reflecting profitable growth in select markets and lines of business, the reinsurer announced on Friday.

Partnership to provide insurance cover for drone operators

By: Joyce Famakinwa

Published April 29, 2016 - 1:48pm CST

Willis Programs, a unit of Willis Towers Watson P.L.C., and the Association for Unmanned Vehicle Systems International have partnered to develop DroneGuard, an insurance program for the association's members.

Week in pictures

Published April 29, 2016 - 11:49am CST

The Business Insurance week in pictures is an eclectic mix led by a potential Liberty Mutual move to cut costs.

House vote to encourage private flood insurance wins praise

By: Mark A. Hofmann

Published April 28, 2016 - 3:52pm CST

Insurers and other groups praised Thursday’s vote by the U.S. House of Representatives in favor of the Flood Insurance Market Parity and Modernization Act.

Arch profit down on foreign exchange

By: Donna Mahoney

Published April 28, 2016 - 2:36pm CST

Arch Capital Group Ltd. on Thursday reported a sharply lower profit in the first quarter due to the effects foreign exchange.

QBE names management liability leader

By: Judy Greenwald

Published April 28, 2016 - 1:48pm CST

John Burkhart is the new senior vice president, head of management liability and professional lines for QBE North America.

XL Catlin impacted by cat, integration expenses

By: Judy Greenwald

Published April 28, 2016 - 1:42pm CST

The company saw a 12.7% increase in first-quarter net income, but its operating income was negatively affected catastrophe losses.

Liberty Mutual looks to unbundle insurance, claims

By: Stephanie Goldberg

Published April 28, 2016 - 10:14am CST

The nation's third-largest workers comp insurer is considering a strategy that could potentially lower claims handling costs.

Berkley ups profit in solid quarter

By: Judy Greenwald

Published April 27, 2016 - 2:46pm CST

W.R. Berkley Corp. reported a 1% increase in net income in a market in which it said insurance continues to be incrementally more competitive while reinsurance is gradually becoming less intensely competitive.

Beecher Carlson hires large-account executive

By: Joyce Famakinwa

Published April 27, 2016 - 1:56pm CST

Megan Miller, formerly of Swiss Re, has been named Beecher Carlson's New York-based managing director.

Crawford & Co. names legal group CEO

By: Joyce Famakinwa

Published April 27, 2016 - 12:29pm CST

Crawford & Co. said on Wednesday that it has named Kenneth A. Cutshaw president and CEO of legal group Garden City Group L.L.C.

Specialty losses limit RenaissanceRe’s first-quarter profit

By: Mark A. Hofmann

Published April 27, 2016 - 12:01pm CST

RenaissanceRe Holdings Ltd.’s net income for the first quarter of 2016 fell 23.7% from a year earlier to $128.0 million, the Pembroke, Bermuda-based reinsurer said.

Despite tumble in first-quarter profit, Axis optimistic on business revamp

By: Rob Lenihan

Published April 27, 2016 - 10:59am CST

Axis Capital Holdings Ltd.'s first-quarter net income tumbled 70.8% due largely to weak investment returns, but the Pembroke, Bermuda-based insurer said Wednesday that its pursuit of more attractive business is showing positive signs overall.

Munich Re's CEO warns of drop in first-quarter profits

By: Thomson Reuters

Published April 27, 2016 - 9:15am CST

(Reuters) — Munich Reinsurance Co. warned on Wednesday that it expects to report a sharp drop in profits for the first three months of 2016.

Adequate insurance urged for potentially volatile oil trains

By: Mark A. Hofmann

Published April 26, 2016 - 1:58pm CST

New York State Comptroller Thomas P. DiNapoli has sent a letter to U.S. Transportation Secretary Anthony Foxx calling on the federal government to require railroads that transport oil to carry adequate insurance to cover cleanup costs and other liabilities associated with major rail accidents.

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