Industry News
British Insurance Premium Tax Hike Worsens Situation for General Insurers
A tax hike on British motor and home insurance policies effective from Sunday is set to hit consumers and could trigger a fresh round of margin-squeezing price competition among general insurers. The ...
‘We Start Businesses Instead of Buying Them,’ Berkley Says in Last Call as CEO
William R. Berkley's last earnings conference call as chief executive officer of the company that bears his name lasted just over 20 minutes, with a lack of questions about a less-eventful quarter ...
Swiss Re’s Estimated Tianjin Explosion Claims Hit: $250M
Swiss Re said that the Tianjin explosion in China will leave it with an approximately $250 million claims burden, but news of the claims hit didn't mar an otherwise solid 2015 third quarter. The ...
Allstate Names New President of Encompass Division
The Allstate Corp. has named Mark Green as president of the Encompass insurance companies. Green was previously president of Allstate Dealer Services and Ivantage Select Agency Inc. He will report to ...
The Hanover Temporarily Brings Back Former CFO After Greenfield’s Death
The Hanover Insurance Group brought back a former chief financial officer company to serve as interim CFO, a move made necessary due to the unexpected death of his predecessor earlier in October. ...
Carl Icahn’s Emergence Ups the Stakes for AIG CEO Hancock
Peter Hancock may have met his hardest challenge yet. Since Hancock took over as chief executive officer of American International Group Inc. last year, Warren Buffett's Berkshire Hathaway Inc.'s new ...
Icahn Urges AIG to Split Into Three, Says It’s ‘Time to Act’
Carl Icahn, the billionaire investor known for picking fights with corporate boards, disclosed an investment in American International Group Inc. and said it should split into three companies: one ...
Albanese to Exit as New York’s Financial Regulator Before End of Year
The acting head of New York's Department of Financial Services will step down before the end of the year, giving New York Governor Andrew Cuomo a run at reshaping a regulator that has levied billions ...