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Hartford posts second-quarter profit

By: Donna Mahoney

Published July 28, 2015 - 3:11pm CST

Hartford Financial Services Group Inc. posted a profit of $413 million for the second quarter of 2015 compared with a loss of $467 million in the second quarter of 2014.

Feds ask AIG for more resolution plan details

By: Mark A. Hofmann

Published July 28, 2015 - 3:00pm CST

Federal regulators have asked American International Group Inc. and two other companies to provide more information about their resolution plans.

Validus Americas appoints president to run its MGA

By: Joyce Famakinwa

Published July 28, 2015 - 12:59pm CST

Validus Re, the reinsurance division of Validus Holdings Ltd., said it has appointed James Franson president of Validus Americas, Validus Re’s Boston-based managing general agent, which underwrites for its Swiss reinsurance company.

Oil train insurance minimums in question

By: Donna Mahoney

Published July 28, 2015 - 12:54pm CST

A little more than two years have passed since an unattended runaway train from the now-bankrupt Montreal, Maine & Atlantic Railway Ltd. derailed and crashed, spilling oil that caught fire in Lac-Mégantic, Quebec, and killing 47 people.

Ace outlines leadership changes on Chubb acquisition

By: Matthew Lerner

Published July 28, 2015 - 12:33pm CST

Ace Ltd. on Tuesday said it has reorganized the leadership team for its North American insurance operations to take effect upon completion of its acquisition of Chubb Corp.

Everest Re profit down on natural catastrophe losses

By: Stephanie Goldberg

Published July 28, 2015 - 12:22pm CST

Everest Re Group Ltd. reported second-quarter net income of $209.1 million, a 27.9% decrease from the same period last year, due to weather-related losses and “challenging” market conditions.

Proxy firms advise PartnerRe shareholders to accept Exor offer

By: Matthew Lerner

Published July 28, 2015 - 11:27am CST

Two leading proxy advisory firms have recommended that PartnerRe Ltd. accept a cash buyout rather than approve a merger with Axis Capital Holdings Ltd. — but they also told Axis shareholders to vote for the merger.

Aspen profit plunges in second quarter

By: Sarah Veysey

Published July 28, 2015 - 10:07am CST

Aspen Insurance Holdings Ltd. on Tuesday posted net income of $49.0 million for the second quarter of 2015, a 62.5% drop compared with the second quarter of 2014.

Zurich mulls offer for RSA Insurance

By: Sarah Veysey

Published July 28, 2015 - 9:15am CST

Zurich Insurance Group Ltd. said Tuesday it is evaluating a potential offer for London-based multiline insurer RSA Insurance Group P.L.C.

Investment drop batters Berkley’s second quarter profit

By: Matthew Lerner

Published July 27, 2015 - 4:45pm CST

Second quarter net income was off 31.9% to $123.0 million for Greenwich, Connecticut-based insurer W.R. Berkley Corp. as net investment gains plummeted and expenses rose for the quarter.

Hiscox reports first-half profit increase

By: Judy Greenwald

Published July 27, 2015 - 2:42pm CST

Hiscox Ltd. reported pretax profit of £135.1 million ($209.5 million), an 8.4% increase from 2014's first half, although future results could hinge on the upcoming hurricane season, the insurer and reinsurer said Monday.

Chinese firm to acquire international unit of American insurer

By: Sarah Veysey

Published July 27, 2015 - 9:36am CST

Hanover, New Hampshire-based White Mountains Insurance Group Ltd. on Monday said it has sold its property/casualty reinsurance and insurance unit Sirius International Insurance Group Ltd. to CM International Holding Pte. Ltd.

West African brokerage joins Worldwide Broker Network

By: Joyce Famakinwa

Published July 24, 2015 - 3:54pm CST

Worldwide Broker Network said Friday that Lagos, Nigeria-based broker Ark Insurance Brokers Ltd. has joined their network of independent insurance brokerage firms.

Guy Carpenter launches latest reserve risk modeling tool

By: Joyce Famakinwa

Published July 24, 2015 - 2:48pm CST

Risk and reinsurance specialist Guy Carpenter & Co. L.L.C. has launched the latest version of its reserve risk modeling tool MetaRisk Reserve 4.5.

Chubb's second quarter income dips

By: Judy Greenwald

Published July 23, 2015 - 4:51pm CST

Chubb Corp. reported net income of $494 million for 2015's second quarter, down slightly from $499 million a year earlier.

Insurance broker expands into Colorado Rockies

By: Joyce Famakinwa

Published July 23, 2015 - 11:29am CST

AssuredPartners Inc. on Thursday said it has acquired Denver-based Peliton Insurance and Peliton Benefits from Peliton L.L.C.

Allied World profit dives in second quarter

By: Matthew Lerner

Published July 23, 2015 - 10:19am CST

Second-quarter 2015 net income at Allied World Assurance Co. Holdings A.G. plunged to $9.5 million from $151.9 million a year ago, the Zug, Switzerland-based insurer said.

Ace quarterly profit rises nearly 21%

By: Shelby Livingston

Published July 22, 2015 - 6:00am CST

Ace Ltd. posted strong 2015 second-quarter results driven by an increase in premiums written and a strong dollar, the insurer said.

Travelers profit up 18.9% on lower catastrophe losses

By: Donna Mahoney

Published July 21, 2015 - 2:29pm CST

Strong underwriting results and lower natural catastrophe losses boosted Travelers Cos. Inc.’s 2015 second-quarter profit 18.9% over the prior-year period to $812 million, Travelers reported Tuesday.

Partnership assesses policyholders' cyber threats

By: Joyce Famakinwa

Published July 21, 2015 - 2:17pm CST

Specialty lines underwriter CFC Underwriting Ltd. has teamed up with cyber security ratings firm BitSight Technologies Inc. to offer a product to assess policyholders’ cyber threats.

Lifting of Iran sanctions would open insurer market

By: Sarah Veysey

Published July 21, 2015 - 10:24am CST

Insurers are showing an interest in covering Iran risks in the wake of a nuclear deal struck last week between Iran and six world powers, including the United States.

Insured losses from catastrophes fall to half of 10-year average

By: Sarah Veysey

Published July 21, 2015 - 9:29am CST

Natural catastrophes resulted in insured losses of $15 billion in the first half of 2015, 47% below the 10-year average of $28 billion for first-half losses, the Impact Forecasting team at Aon Benfield Group Ltd. said Tuesday.

CVS, Costco, Rite Aid photo centers breached?

By: Judy Greenwald

Published July 20, 2015 - 4:35pm CST

Online photo centers operated by CVS Health Corp., Costco Wholesale Corp. and Rite Aid Corp. may have been the victims of cyber breaches caused by an attack on a third-party vendor.

Exor ups PartnerRe ante again in merger tug of war

By: Matthew Lerner

Published July 20, 2015 - 11:25am CST

Exor S.p.A., the Italian investment firm, has again raised its offer for reinsurer PartnerRe Ltd. in an attempt to prevail over Axis Capital Holdings Ltd. in the companies' three-way takeover battle.

Insurer mergers and acquisitions expected to continue

By: Mark A. Hofmann

Published July 20, 2015 - 11:24am CST

Merger and takeover activity is likely to continue in the property/casualty insurance market, according to a report released Monday by A.M. Best Co. Inc.

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