Growth Initiatives
Allstate Is The Latest P/C Insurer to Pursue Texas Expansion
Allstate Insurance Company said it wants to bring close to 300 additional jobs to Texas focused on both agency ownership and sales. The U.S.'s largest publicly held personal lines insurer explained ...
Everest Re Hires Marsh Vet to Lead Division’s U.S. Insurance Operations
Everest Re Group brought in a Marsh & McLennan veteran to head the U.S. offices of one of its insurance arms. Jonathan Zaffino is now president of Everest National Insurance Company's U.S. ...
P/C Industry Lobbyists Hope to Shape FAA’s Proposed Drone Regs
Two insurance industry trade associations expressed support for proposed regulations governing commercial drone use, calling them a good first step. Worries remain, however, about how the regulations ...
Another M&A Deal: Fairfax Financial Grabbing U.K.’s Brit For $1.88B
Fairfax Financial Holdings Ltd., the Canadian property and casualty insurer run by contrarian investor Prem Watsa, said it would buy Brit plc for about $1.88 billion to become one of the top five ...
Insurers Risk Falling Behind in Financial Sector Technology Race
At a time the financial sector is racing to embrace digital technology to boost sales and drive profits, the traditionally staid insurance industry is in danger of falling behind. Some insurers are ...
Amica Mutual CEO: 2014 Was When ‘Everything Came Together’
Amica Mutual Insurance Co. boosted its net income, added 46,000 more policies and improved its combined ratio in 2014, the insurer disclosed this week. "It was a year everything came together," Amica ...RenRe Hopes to Close $1.9B Platinum Acquisition on March 2
RenaissanceRe Holdings expects to close its $1.9 billion cash-stock acquisition of Platinum Underwritings Holdings on March 2, assuming an upcoming shareholder vote goes its way. The Bermuda-based ...
Spanish Insurance Giant MAPFRE Enjoys Home-Grown Rebound
MAPFRE SA, Spain's biggest insurer, recorded a 6.9 percent rise in net income last year on higher returns in its home market. Net profit grew to 845 million euros ($956 million) from 790.5 million ...