Commercial Lines
AIG CEO Duperreault ‘Encouraged’ by Hardening Market, Talks Operational Overhaul
AIG President and CEO Brian Duperreault said that the evolving, hardening market is sustainable and dovetailing nicely with the insurer's ongoing efforts to shed excessively risky business. "We are ...
New Aviva CEO Starts Turnaround Efforts; Asia Unit’s Options Still on Table
Aviva Plc confirmed it's examining options for its Asian business as new Chief Executive Officer Maurice Tulloch's turnaround of the U.K.'s only insurance conglomerate takes shape. The firm confirmed ...
Insurers Pressured by Activist Groups to Drop Coverage of Oil Sands Pipeline
A coalition of 32 environmental and indigenous groups on Thursday urged insurers to stop underwriting the Trans Mountain pipeline to pressure Canada to cancel its plan to expand the project which ...
Zurich Insurance Ends Revamp Ahead of Schedule, With Goals Complete
Zurich Insurance Group AG said it will exceed all of its financial targets as the global insurer benefits from a three-year turnaround plan that slashed costs. The combined ratio, a key measure of ...
Mobile Sales Assistant Vymo Raises $19M; AXA, Allianz Among Customers
Vymo, a technology company whose mobile app captures and automates data for insurance sales reps and others on the go, has raised $18 million in new financing. The India-based SaaS (software as a ...
Updated: AIG’s General Insurance Unit Turns a Profit for the Second Quarter in a Row
American International Group (AIG) President and CEO Brian Duperreault has insisted that the insurer's General Insurance unit will produce an underwriting profit for all of 2019, after a decade of ...
Novel Opioid Settlement Talks Framework Draw Federal Judge’s Support
A federal judge on Tuesday expressed support for a novel plan by lawyers representing cities and counties suing drug companies over the U.S. opioid epidemic that would bring every community ...
For Munich Re, Claims Decline and Net Profit Soars
German reinsurer Munich Re on Wednesday reported a 36% rise in net profit in the second quarter, helped by low claims from major losses, and stuck to its forecast for 2019. Net profit was 993 million ...