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Verisk Insurance Solutions unveils peril analytics report

By: Mark A. Hofmann

Published May 05, 2015 - 11:01am CST

Verisk Analytics Inc.’s Verisk Insurance Solutions unit on Tuesday said it has developed a new analytic report that helps insurance underwriters accurately determine the likelihood of fire incidents and a broad spectrum of nonmodeled weather events at specific locations.

Property/casualty insurance pricing remains competitive

By: Mark A. Hofmann

Published May 05, 2015 - 9:54am CST

Average commercial property/casualty insurance prices were flat in April compared with those of the same month a year earlier, Dallas-based electronic insurance exchange MarketScout reported Tuesday.

Stakes rise in Bermuda reinsurer bidding triangle

By: Matthew Lerner

Published May 04, 2015 - 2:59pm CST

Axis Capital Holdings Ltd. on Monday said it revised its offer for PartnerRe Ltd., adding a special one-time cash dividend of $11.50 per share to its merger offer in response to Exor S.p.A.'s $130-per-share all-cash offer for the reinsurer.

Berkshire Hathaway profitable overall, but unit stories vary

By: Mark A. Hofmann

Published May 04, 2015 - 11:42am CST

Pretax underwriting losses in both its property/casualty and life and health operations adversely affected the first-quarter performance of Berkshire Hathaway Inc.'s General Re. Corp. unit.

CNA net income rises despite challenging market

By: Matthew Lerner

Published May 04, 2015 - 11:22am CST

CNA Financial Corp. reported first-quarter net income of $233 million, sharply higher than the $13 million gain a year earlier in a quarter hit by a $207 million charge due to discontinued operations, the insurer reported Monday.

China's Fosun offers $1.8 billion for 80% of U.S. insurer

Published May 04, 2015 - 8:14am CST

(Reuters) — Fosun International Ltd., an investment company controlled by Chinese billionaire Guo Guangchang, said it had offered to buy the 80% it does not already own in U.S. insurer Ironshore Inc. for $1.8 billion.

Reinsurance leader happy, not considering future mergers

By: Judy Greenwald

Published May 01, 2015 - 3:11pm CST

Validus Holdings Ltd. leader Ed Noonan said he is happy with the company's current business model and not even considering the prospect of merging with another reinsurer.

AIG results show continued improvement, analysts say

By: Mark A. Hofmann

Published May 01, 2015 - 2:03pm CST

American International Group Inc.'s first quarter results show continued improvement in a difficult environment for insurance pricing and investment returns, according to analysts.

JLT USA expects $50 million in 2015 revenue

By: Sheena Harrison

Published May 01, 2015 - 11:41am CST

JLT USA, a unit of London-based insurance and reinsurance brokerage Jardine Lloyd Thompson Group P.L.C., is expected to post $50 million in revenue and a net trading loss of $35 million for 2015, the company said Friday.

Former insurance superintendent to join reinsurance broker

By: Mark A. Hofmann

Published May 01, 2015 - 11:24am CST

Former New York Superintendent of Insurance James J. Wrynn will join Guy Carpenter & Co. L.L.C. as managing director/vice chair of strategic advisory (U.S.) on May 11, his current employer, law firm Goldberg Segalla, announced Friday.

$4.28 billion merger of XL and Catlin wraps

By: Matthew Lerner and Sarah Veysey

Published May 01, 2015 - 10:16am CST

XL Group P.L.C. has completed its $4.28 billion acquisition of Catlin Group Ltd., Dublin-based XL said Friday.

AIG first-quarter earnings down slightly on interest rates, returns

Published April 30, 2015 - 3:29pm CST

(Reuters) — American International Group Inc.'s first-quarter earnings fell slightly as low interest rates and weaker returns from alternative investments offset improvements in its commercial insurance business.

XL optimistic amid dropped quarterly income, possible billion-dollar merger

By: Bill Kenealy

Published April 30, 2015 - 1:59pm CST

Hours away from a transaction closing that will reshape the company, Dublin-based XL Group P.L.C. reported weaker first quarter financial data on Wednesday.

Willis revenues down despite organic growth

By: Matt Dunning

Published April 29, 2015 - 2:53pm CST

Willis Group Holdings P.L.C. saw modest declines in total revenue and profits in the first quarter of 2015, despite positive organic growth in all four of its operating segments.

Drone risks an urgent priority for companies

By: Judy Greenwald

Published April 27, 2015 - 7:11pm CST

The growing use of drones is creating numerous and still-unanswered liability, privacy and insurance coverage issues, experts say.

Generali division to focus on North American property/casualty

By: Shelby Livingston

Published April 27, 2015 - 3:40pm CST

Generali Global Corporate & Commercial has launched a New York-based U.S. division to serve the North American property/casualty insurance market, the Assicurazioni Generali S.p.A. unit said Monday.

Greenberg case over AIG takeover questions government reach

By: Mark A. Hofmann

Published April 26, 2015 - 6:00am CST

The legal battle pitting former American International Group Inc. Chairman and CEO Maurice R. Greenberg and other AIG stockholders against the government over the terms of AIG's 2008 bailout may — or may not — have lasting significance.

Brian W. Merkley uses 'insurance champion' model to manage Huntsman risks

By: Judy Greenwald

Published April 26, 2015 - 6:00am CST

Huntsman Corp.'s risk management philosophy is to retain risk when it makes good economic sense, and to transfer it to insurers when that makes sense, said Brian W. Merkley, global director of corporate risk management for the Salt Lake City-based firm.

Brian W. Merkley keeps Huntsman's owner-controlled insurance program in-house

By: Judy Greenwald

Published April 26, 2015 - 6:00am CST

Huntsman Corp.'s owner-controlled insurance program has saved the company about $20 million since its inception, according to Brian W. Merkley, the Salt Lake City-based chemical manufacturers' global director of corporate risk management.

Brian W. Merkley takes collaborative approach wtih brokers, underwriters

By: Judy Greenwald

Published April 26, 2015 - 6:00am CST

A collaborative approach with key partners including brokers and insurers is a significant factor in the risk management philosophy followed by Brian W. Merkley as global director of corporate risk management at Salt Lake City-based chemical manufacturer Huntsman Corp.

David G. Cammarata covers top Verizon risks with massive insurance programs

By: Matthew Lerner

Published April 26, 2015 - 6:00am CST

As a major communications company with buildings in urban areas, Verizon Communications Inc. has significant cyber and terrorism exposures.

Kathleen M. Ireland directs many players in IBM's global insurance program

By: Mark A. Hofmann

Published April 26, 2015 - 6:00am CST

For IBM, having a global insurance program simply makes good sense, according to Kathleen M. Ireland, vice president of global risk and insurance.

Winter weather cools Chubb's first-quarter results

By: Sheena Harrison

Published April 24, 2015 - 10:24am CST

Harsh winter weather contributed to a downturn in Chubb Corp.'s first-quarter profit for 2015, the Warren, New Jersey-based insurer said.

Aspen repositioning as reinsurance rates shift

Published April 23, 2015 - 1:38pm CST

Despite solid first-quarter financials, Hamilton, Bermuda-based Aspen Insurance Holdings Ltd. is repositioning itself amid persistent soft reinsurance prices and said Thursday that top executive Rupert Villers will step down later this year.

Policy checker program offers error solutions for brokers

By: Shelby Livingston

Published April 23, 2015 - 11:46am CST

Document analysis software company Adsensa Ltd. has launched an insurance policy-checking product for North American brokers that aims to minimize potential errors and omissions exposures and reduce policy backlog.

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