Reinsurance
XL Group CEO McGavick Urges Caution Toward Fossil Fuel Divestment Pressures
XL Group CEO Mike McGavick is standing firm against the push for insurers to divest from fossil fuel. He's urging caution, even as those efforts continue. "I hope we're really thoughtful about the ...
Executives On The Move at Liberty Mutual, JLT Re, and More
Liberty Mutual named three executives to leadership roles within its Commercial Insurance strategic business unit. JLT Re hired a Swiss Re executive to fill a strategic role. Aon Benfield made ...
BP Will Settle $175M in Oil Spill-Related Shareholder Claims
BP Plc agreed on Thursday to pay $175 million to shareholders who brought a class-action lawsuit that accused the oil company of misleading them by understating the severity of the 2010 oil spill in ...
A British EU Exit Could Kill 34,000 London Jobs, IUA Warns
A British exit from the European Union would cause grave damage to the London market and the loss of thousands of jobs, according to a position paper from the International Underwriting Association ...
Colorado State Team Predicts Near-Normal Hurricane Season
The Atlantic should produce a near-normal 12 storms during the six-month hurricane season that officially begins June 1, while the U.S. coastline has a below-average chance of being struck by a major ...
Reinsurance Rates Still Falling—But Less at June 1: JLT Re
Property-catastrophe reinsurance rate declines are continuing to taper off from the double-digit average drops that were recorded two years ago, JLT Re reported in a report yesterday. JLT Re's ...
Munich Re Restructuring Primary Insurance Unit; Cutting Jobs in Digital Push
Munich Re, the world's second-biggest reinsurer, plans to spend 1 billion euros ($1.1 billion) by 2020 restructuring operations at its loss-making primary insurance unit in Germany. The plan for ...
Will Hurricanes Drive Property Insurance Rate Hikes? Experts Forecasting Changes
With two of three groups of expert hurricane researchers split on whether the 2016 Atlantic hurricane season will be above average or normal, a tie-breaking vote could come on Tuesday. But even a ...