Markets
Travelers’ Profit Plunges; Higher Cat Losses, Reduced Underwriting Gains to Blame
Property and casualty insurer Travelers Cos Inc reported an 11 percent fall in quarterly profit hurt by higher catastrophe losses and lower underwriting gains. The company also authorized a $5 ...
AmWINS Will Buy Partners Specialty Group, Adding to Already Giant Broker Operation
Specialty insurance brokerages AmWINS Group Inc. and Partners Specialty Group LLC have agreed to merge, creating a combined firm that will place a whopping $14 billion in annual premiums. Neither ...
Think Tank: Federal Insurance Office Could Work Better as Its Own Agency
It's no secret that the Federal Insurance Office isn't exactly popular among property-casualty insurers. But a Washington D.C. nonprofit policy group says it can and should be saved, and even ...
XL Catlin Ups Terrorism Insurance Coverage Limits by 25%
XL Catlin said it has boosted available terrorism insurance coverage units by 25 percent in an effort to keep up with demand. Limits are now at $250 million, up from $200 million, the insurer and ...
W.R. Berkley Hires Ex-Goldman Sachs Analyst to Assess Emerging Tech Company Investments
W.R. Berkley Corp. has hired a former Goldman, Sachs & Co. analyst to evaluate potential investments in emerging insurance technology companies. The executive, Michael Nannizzi, will be part of ...
U.S. Insurers Push to Keep Key Expert on Financial Stability Oversight Council
With no sign of a replacement in the works, the U.S. insurance industry is pushing to prevent the departure of a key figure on the federal body that determines how large insurance companies are ...
Unexpected UK Election Could Strengthen May’s Brexit Negotiating Position
U.K. Prime Minister Theresa May won by a landslide the approval she wanted for a June 8 snap election as she seeks to strengthen her mandate ahead of Brexit negotiations. Lawmakers in the House of ...
Insurers Are Rapidly Adding ‘Virtual’ Customer Service Tools
Frustrated with automated answering machines before you finally get to speak with a customer service representative? When it comes to insurance, you'll just as likely end up dealing with a robot as a ...