Strategy
AIG CEO Zaffino Urges Insurers to Plan for More Climate Change-Related Catastrophe Losses
AIG President and CEO Peter Zaffino urged the insurance industry to acknowledge that more frequent and severe catastrophe losses are likely here to stay, and plan accordingly. "We've never seen ...
AIG CEO Zaffino Promises 2022 IPO for Portion of Life/Retirement Business
American International Group remains on track to sell of part of its Life & Retirement unit through an IPO in the first half of 2022, according to company President and CEO Peter Zaffino. Some ...
AXIS Enacts Policy to Ensure Diverse Supplier Networks for Its Operations
AXIS Capital Holdings is enacting a policy designed to ensure a more diverse base for its supplier networks. The Bermuda-based specialty insurer and reinsurer said its new Supplier Diversity Policy ...
Liberty Mutual Is Shifting 2,200 Exclusive Agents to Its New Digital Agency
Liberty Mutual Insurance, the nation's sixth-largest personal lines property/casualty insurer, is planning to transition its more than 2,200 exclusive insurance agents in 200 offices across the ...
Arch Rebrands New Purchase Watford Re as Somers Re, Implements New Reinsurance Strategy
Arch Capital Group Ltd., alongside private equity partners Warburg Pincus and Kelso & Co., announced that Watford Holdings Ltd. and Watford Re Ltd. have been renamed Somers Group Holdings Ltd. ...
ITC Reporter’s Notebook: How Next, Root and Swiss Re Are ‘Adapting’ and Innovating
Over the course of the last six years, Next Insurance has adapted its business model, its distribution method, and its product offerings. Coming up next, the InsurTech aims to offer "adaptive ...
Carriers Moving Toward Independent Models Will Need to Provide Support to Reap Benefits
The property/casualty insurance market is seeing its biggest shake-ups in recent memory. New players, shifting customer expectations, consolidation and new operational models have all hit the market ...
U.S. Insurers Hear Demands to Use Social and Environmental Issues in Decision-Making
U.S. insurers are increasingly listening to demands from stakeholders that they use social and environmental factors in their decision-making, according to a new AM Best survey. The ratings entity ...