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Tokio Marine names former Catlin exec group head of claims

By: Shelby Livingston

Published April 08, 2015 - 3:24pm CST

Former Catlin executive Nick Sinfield will lead Tokio Marine Kiln Group Ltd. as group head of claims, the London-based insurer announced.

AIG gets OK to use drones for risk assessment

By: Judy Greenwald

Published April 08, 2015 - 1:01pm CST

The FAA has approved AIG's request to operate drones to conduct inspections for risk assessment, risk management, loss control and surety performance for its U.S. policyholders.

Merger strengthens youth activity program insurer

By: Shelby Livingston

Published April 08, 2015 - 10:48am CST

The Redwoods Group Inc. and surplus lines insurer Crum & Forster Insurance Co., part of Fairfax Financial Holdings Ltd., have agreed to merge, Redwoods said in a statement.

New CFO for Iowa property/casualty insurer

By: Shelby Livingston

Published April 07, 2015 - 10:03am CST

Property/casualty insurer United Fire Group Inc. has named Dawn M. Jaffray as chief financial officer, effective April 27.

USI beefs up builder’s risk program

By: Shelby Livingston

Published April 06, 2015 - 2:58pm CST

USI Insurance Services L.L.C. has launched a builder’s risk program for projects of all sizes and types that expands the coverage terms typically offered to middle market customers, the Valhalla, New York-based brokerage announced Monday.

Property/casualty insurance rates holding steady

By: Mark A. Hofmann

Published April 06, 2015 - 11:01am CST

Commercial property/casualty insurance rates in March were flat compared with those of the same month in 2014, Dallas-based electronic insurance exchange MarketScout reported Monday.

AIG, Allianz unit argue over credit default swaps exposure

By: Mark A. Hofmann

Published April 03, 2015 - 10:50am CST

American International Group Inc. is promising to “vigorously” defend itself against charges by Pacific Investment Management Co. that it had misled investors about its exposure to risky investments that led to the insurer’s near-collapse in 2008.

Insurance broker expands with Idaho acquisition

By: Shelby Livingston

Published April 03, 2015 - 10:19am CST

Newport Beach, California-based broker Alliant Insurance Services Inc. on Friday said it has acquired independent agency North Idaho Insurance L.L.C.

Integro acquires corporate broker group

By: Matthew Lerner

Published April 02, 2015 - 2:54pm CST

Brokerage Integro Ltd. has acquired NPA Insurance Broking Group, Integro said in a statement Thursday.

HCC streamlines underwriting segments

By: Bill Kenealy

Published April 02, 2015 - 2:17pm CST

HCC Insurance Holdings Inc. said on Thursday that it has revised its operating and reporting structure into three underwriting segments from five.

Insurance broker ups stake in managing general underwriter

By: Matthew Lerner

Published April 02, 2015 - 1:48pm CST

BB&T Insurance Holdings Inc., a subsidiary of BB&T Corp., will increase its stake in AmRisc L.P. to a majority while selling American Coastal Insurance Co. to certain members of the AmRisc management team, BB&T said Thursday.

JLT Specialty hires specie, fine art and jewelry execs from Willis

By: Matthew Lerner

Published April 02, 2015 - 1:47pm CST

JLT Specialty Ltd. has hired away members of the specie, fine art and jewelry team from Willis Group Holdings P.L.C. including Barry Vickery and David Gordon, who will head the team for JLT in the U.K., the company said in a statement Thursday.

Ace, Blackrock join to launch reinsurer

By: Shelby Livingston

Published April 02, 2015 - 1:23pm CST

Ace Ltd. and investment bank Blackrock Inc. have launched a joint reinsurance venture, ABR Reinsurance Ltd.

Willis Bermuda announces new chairman

By: Shelby Livingston

Published April 02, 2015 - 12:06pm CST

Paul Scope will head Willis Bermuda Ltd. as chairman, Willis Group Holdings P.L.C. announced Thursday.

Cooper Gay Swett & Crawford create MGA for professional liability market

By: Shelby Livingston

Published April 02, 2015 - 10:36am CST

Cooper Gay Swett & Crawford Ltd.'s North America unit has launched StatPro Underwriters, a managing general agent serving the U.S. miscellaneous professional liability insurance market.

Zurich Insurance launches drone coverage for Canada

By: Shelby Livingston

Published April 02, 2015 - 9:46am CST

Toronto-based insurer Zurich Canada, a unit of Zurich Insurance Group Ltd., on Wednesday announced it has launched an insurance package for Canadian customers using drones.

Germanwings crash families must prepare for differing payouts

Published April 02, 2015 - 9:28am CST

(Reuters) — Families of those killed aboard the Germanwings flight are likely to receive vastly different payouts depending on their nationality, where they bought the ticket, and how much they earned.

AIG may sell $4 billion stake in aircraft leasing firm

By: Mark A. Hofmann

Published April 01, 2015 - 2:43pm CST

AIG may sell its holding in Dutch aircraft leasing company AerCap Holdings N.V., which could raise up to about $4 billion for the insurer, according to a Securities and Exchange Commission filing by Schipol, Netherlands-based AerCap.

Tokio Millennium Re names new CEO

By: Shelby Livingston

Published April 01, 2015 - 12:12pm CST

Stephan Ruoff will lead Tokio Millennium Re A.G. as CEO, the reinsurance unit of Tokio Marine & Nichido Fire Insurance Co. Ltd. announced Wednesday.

European reinsurers face market pressures after strong 2014

By: Matthew Lerner

Published April 01, 2015 - 12:05pm CST

Despite strong financial performance in 2014, European reinsurers face challenges going forward, A.M. Best Co. Inc. said in a new report Wednesday.

Reinsurers, insurance-linked securities not immune from market challenges

By: Matthew Lerner

Published April 01, 2015 - 11:25am CST

April reinsurance renewals showed continued downward pricing pressure and laid bare the similar challenges now being faced by the insurance-linked securities sector, Willis Group Holdings P.L.C. said in a statement Wednesday.

NFP acquires two related property/casualty agencies

By: Shelby Livingston

Published April 01, 2015 - 11:18am CST

New York-based broker NFP Corp. has acquired property/casualty insurance agencies Weber's Insurance Service Inc. and Weber's Assurance Group L.L.C.

Lead insurer for Air Canada crash identified

By: Judy Greenwald

Published March 31, 2015 - 2:58pm CST

Global Aerospace Underwriting Managers Ltd. is the lead insurer for Air Canada, whose plane was severely damaged early Sunday when it landed in bad weather short of the runway at Halifax Stanfield International Airport, the underwriter confirmed Tuesday.

W.R. Berkley to merge two U.S. reinsurer units

By: Shelby Livingston

Published March 30, 2015 - 4:04pm CST

W.R. Berkley Corp. on Monday announced it will merge its two U.S. reinsurance underwriting units, Berkley Re America L.L.C. and Facultative ReSources Inc.

Germanwings' insurers liable for crash claims

By: Sarah Veysey

Published March 30, 2015 - 3:38pm CST

The insurers of the Germanwings plane that crashed last week killing all 150 people on board will be liable to pay claims of about $300 million even if it is established that the co-pilot deliberately crashed the flight.

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