Commercial Lines
Another Unprofitable Quarter For AIG, Thanks to Hedge Funds
American International Group Inc., the insurer that's shrinking under pressure from activist shareholders, posted a third-straight unprofitable quarter on losses from hedge funds and declines in the ...
Ex-AIG Exec to Succeed David Duclos as CEO of QBE North America
A former AIG executive is joining QBE with plans to become CEO of its North American operations. Russell Johnston will succeed David Duclos in the role of QBE CEO for its North American operation ...
Wide Automation in Underwriting Helps Personal Lines Insurers Most: Celent
Personal lines insurers are most likely to benefit from wide uses of automation in underwriting, a new report has found. "They are more likely to have a homogenous book of business and a standardized ...
State Auto Dives Due to Continued Higher Auto Loss Costs
Ohio-based State Auto Financial Corp. announced first quarter 2016 net income of $3.0 million, or $0.07 per diluted share, versus net income of $24.7 million, or $0.60 per diluted share, for the ...
CNA’s Q1: Net Income Plunges but Underwriting Improves
CNA Financial Corp.'s first three months of 2016 produced a mixed bag of results. Fallout from a 2010 agreement to cede Asbestos and Environmental Pollution liabilities to National Indemnity Company ...
Canadian Railroad Struggles with Adequate Track Repair Following 2015 Derailments
Canada's biggest railway struggled to keep some heavily used track in adequate repair even after a string of derailments last year showed the danger of moving oil on poorly maintained track, ...
AIG Is Selling $1.2B Stake in Chinese P/C Insurer
American International Group is offering for sale about $1.2 billion worth of shares in China's PICC Property and Casualty Co Ltd (PICC P&C) in a block deal, IFR said on Saturday, citing a term ...
Berkshire Profit Climbs on Investments; Insurance Underwriting Income Slipped by More Than Half
Berkshire Hathaway Inc.'s profit rose 8.2 percent in the first quarter as gains at manufacturing units and the investment portfolio overseen by Chairman Warren Buffett offset a slump at insurance ...