Strategy
Allianz Will Absorb Fireman’s Fund’s Commercial Lines Business
German insurance giant Allianz said it will absorb Fireman's Fund Insurance Company's commercial lines business into one of its own eponymously-named divisions. Meanwhile, after days of declining to ...
Big Data Increasingly Helps Insurers Spot Risks
Insurance companies are increasingly turning to "big data" from satellites, social media and even cigarette sales at gas stations to help identify risks and build up customer profiles. Insurers and ...AIG Names Kaiser Permanente Veteran as New Tech Chief
American International Group Inc. hired Philip Fasano to the newly created chief information officer role as Chief Executive Officer Peter Hancock counts on technology to improve results. Fasano, 56, ...
BP Argues Missing Comma Entitles it to $750M in Coverage For Gulf Oil Spill
BP Plc, which has paid more than $28 billion for the 2010 Gulf of Mexico oil spill, asked a Texas court to let it tap into $750 million in Transocean Ltd.'s insurance policies on the doomed Deepwater ...
Allianz Declines Comment on Report That it Will Sell Part of Fireman’s Fund
Allianz refused to comment Tuesday on a report that it will unload the personal insurance arm of Fireman's Fund, its U.S. subsidiary, due to repeated operating losses. "Allianz never comments on ...
Progressive to Pursue Sizable Hiring Plans Through 2014
Progressive Corp., the fourth largest U.S. automobile insurer, wants the world to know that it is hiring nearly 1,000 people by the end of 2014. What's the plan? Progressive said it will do this by ...
Assurant Names New CEO in Wake of Home Insurance Business Drop
Assurant Inc. promoted Alan Colberg to be the next chief executive officer as the insurer confronts a slump in the sale of coverage for foreclosed homes. Colberg, 53, becomes CEO on Jan. 1 and ...
ACP Re/Tower Group Merger Deal Finally Closes
After months of uncertainty, the merger of ACP Re Ltd. and struggling reinsurer Tower Group International has finally closed. Bermuda-based ACP Re and Tower announced on Sept. 12 that all regulatory ...