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AIG selling remaining AerCap stake

By: Mark A. Hofmann

Published August 19, 2015 - 10:03am CST

American International Group Inc. plans to sell its remaining stake in AerCap Holdings N.V. for about $500 million, AIG announced Tuesday after close of markets.

QBE reports profit increase, improved outlook

By: Stephanie Goldberg

Published August 18, 2015 - 2:07pm CST

QBE Insurance Group Ltd. reported higher profits for the first half of 2015 as it completed the sale of several business units.

Asia growth leading to larger windstorm losses

By: Mark A. Hofmann

Published August 18, 2015 - 11:02am CST

The potential for larger windstorm losses in Asia continues to increase because of population growth and an increase in exposed assets, among other factors, according to an analysis released Tuesday by Allianz Global Corporate & Specialty S.E.

Strategic mindset can help insurers head off new risks

By: Donna Mahoney

Published August 18, 2015 - 10:59am CST

As risk managers look out for potential threats, a report released Monday specifies areas insurers should keep an innovative eye on in the future.

Tianjin explosion insured losses may surpass $1.5 billion

By: Sarah Veysey

Published August 18, 2015 - 9:08am CST

Insured losses from the series of explosions at a chemical warehouse in the port of Tianjin, China, late last week could exceed $1.5 billion, according to a report by Fitch Ratings Ltd. in Hong Kong.

Agents and brokers group urges membership to new federal industry board

By: Mark A. Hofmann

Published August 17, 2015 - 11:32am CST

A group representing wholesale insurance agents and brokers is urging the director of the Federal Insurance Office to appoint members to the board of the National Association of Registered Agents and Brokers immediately.

Initial insurance losses from Tianjin blasts could reach $1.5 billion

Published August 17, 2015 - 9:27am CST

(Reuters) — Two explosions in the Chinese port of Tianjin that killed more than 100 people last week could generate total insurance losses of $1 billion to $1.5 billion, Credit Suisse analysts said, citing initial estimates based on Chinese media reports.

Travelers gets ready for new CEO

By: Mark A. Hofmann

Published August 16, 2015 - 6:00am CST

Jay S. Fishman not only transformed Travelers Cos. Inc. during his more than a decade with the insurer, he also has had a major effect on the U.S. property/casualty industry in general.

UP CLOSE: Andreas Loucaides

Published August 16, 2015 - 6:00am CST


New Orleans' levees then and now

Published August 16, 2015 - 6:00am CST

A Business Insurance Focus video shows what the Army Corps of Engineers and $14.5 billion can do to shore up storm protection.

Property policy ruling favoring AIG unit upheld

By: Judy Greenwald

Published August 14, 2015 - 4:47pm CST

Faulty workmanship cannot be considered an occurrence under a property policy, says an appeals court in upholding a ruling in favor of an American International Group Inc. unit.

Insurers ordered to pay interest in California waste site dispute

By: Judy Greenwald

Published August 14, 2015 - 1:27pm CST

A California Superior Court judge has awarded the state of California $13.9 million in prejudgment interest in connection with the longstanding coverage dispute over a Southern California hazardous waste site.

Allianz, Zurich receive damages claims from firms affected by Tianjin blasts

Published August 14, 2015 - 9:46am CST

(Reuters) — The Chinese units of European insurers Allianz S.E. and Zurich Insurance Group Ltd. said on Friday they received claims for unspecified damages from customer companies in the northeast city of Tianjin after two huge explosions in the port.

New York broker Integro lands London aviation division

By: Joyce Famakinwa

Published August 13, 2015 - 3:07pm CST

New York-based insurance broker Integro Ltd. said Thursday that it has acquired AFL Insurance Brokers Ltd.'s aviation division.

Global insurance rates continue their decline

By: Donna Mahoney

Published August 13, 2015 - 2:53pm CST

Global insurance rates across most major lines of business continued to decline during the second quarter of 2015, according to Marsh L.L.C.'s latest Global Insurance Market Quarterly Briefing, released Thursday.

Fragrance firm entitled to coverage on environmental claims

By: Judy Greenwald

Published August 13, 2015 - 2:27pm CST

In a case that involves some $500 million in insurance coverage, a New Jersey state court has held that a fragrance company has the right to seek coverage for various environmental claims, because the transfer of insurance policies to it from a related unit did not require insurers' prior approval.

Alliant names U.S. middle market leader

By: Matthew Lerner

Published August 13, 2015 - 2:14pm CST

Specialty insurance broker Alliant Insurance Services Inc., Newport Beach, California, has named Robert Bennetsen to head its Alliant Americas middle market division, the company said in a statement Thursday.

Vermont Sen. Leahy touts state's standing among captive domiciles

By: Jerry Geisel

Published August 12, 2015 - 2:38pm CST

BURLINGTON, Vt. — Vermont is the “gold standard” when it comes to captive insurance domiciles, Sen. Patrick Leahy, D-Vt., the state’s senior senator says.

Captive industry recognizes its champions

By: Jerry Geisel

Published August 12, 2015 - 2:16pm CST

BURLINGTON, Vt. — The Vermont Captive Insurance Association presented annual awards to several veteran captive players in recognition of their contributions to the industry and to the association during the opening general session of the 2015 VCIA conference Wednesday in Burlington.

Advertiser group launches coverage against 'patent trolls'

By: Joyce Famakinwa

Published August 11, 2015 - 2:33pm CST

The Association of National Advertisers said Tuesday it has launched a defense insurance program against patent assertion entities or “patent trolls” for ANA members.

XL acquiring specialty outdoor entertainment insurer

By: Mark A. Hofmann

Published August 11, 2015 - 10:08am CST

XL Group P.L.C.’s X.L. America Inc. subsidiary has entered into a definitive agreement to acquire Allied International Holdings Inc., XL announced Tuesday.

Disaster claims on insurers drop by a third in first half

Published August 11, 2015 - 9:35am CST

(Reuters) — Disaster claims on insurers in the first half of the year fell by nearly one-third from the same period last year to $16.5 billion, even though the percentage of losses covered by insurance rose, a study by reinsurer Swiss Re Ltd. showed.

Verisk to give commercial properties hazard scores

By: Joyce Famakinwa

Published August 10, 2015 - 2:23pm CST

Verisk Analytics Inc.’s Verisk Insurance Solutions unit said Monday that it will provide properties a relative hazard score on all field surveys performed by the company.

Softer commercial insurance prices predicted

By: Mark A. Hofmann

Published August 10, 2015 - 11:45am CST

A slow but steady softening in rates will occur in some commercial insurance lines over the next five years, according to an analysis released Monday by Charlottesville, Virginia-based SNL Financial L.C.

Berkshire profit falls 37% on insurance, investment slump

Published August 10, 2015 - 9:12am CST

(Reuters) — Warren Buffett's Berkshire Hathaway Inc. said on Friday its second-quarter profit fell 37%, reflecting a significant decline in investment gains and an underwriting loss from insurance operations, which include Geico.

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