Industry News
Insurance Losses From Tianjin Explosion Could Hit $3.3B: Guy Carpenter
The two massive explosions which hit China's Port of Tianjin last month could generate insurance losses of up $3.3 billion, according to a report published by Guy Carpenter. The report estimates ...
AIG Aims for Couture Crowd With Designer Clothing Coverage
American International Group is aiming for more high net worth policyholder business with new coverage for couture and other designer clothing – items than can be worth thousands of dollars. AIG is ...
Actuaries, Analytics Pros in Hottest P/C Insurance Talent Markets: Labor Study
In spite of fading carrier optimism about revenue growth and increasing activity on the M&A front, unemployment in the insurance industry remains near an all-time low. For carriers, that means ...
AIG Freezing Employee Pension Plans in Cost-Cutting Move
American International Group Inc., the insurer seeking to cut costs under Chief Executive Officer Peter Hancock, said it will halt employees' existing pension program in the U.S. and instead focus on ...
Reinsurers’ New Reality of Abundant Capacity May be Permanent: A.M. Best
The reinsurance market is operating in a new reality of abundant capacity from traditional and alternative sources, low interest rates and thinner reinsurance margins, driven by intense competition ...
Lloyd’s Tallies $4.6 Trillion in At-Risk GDP in 301 Cities
In the first-ever Lloyd's City Risk Index, analyzes the economic output at risk (GDP at risk) in 301 major cities from 18 manmade and natural threats over a ten-year period. It concludes that "$4.6 ...
RLI Long-Time President Stone Set to Retire At Year-End
Michael Stone, long-time president and chief operating officer of RLI Corp., is retiring at the end of 2015, capping a 20-year stint at the Illinois-based specialty insurer. RLI said that Stone will ...
Executives On The Move at ACE and Argo
ACE Group made six London-based appointments to its ACE Global Markets (AGM) and ACE Overseas General (AOG) energy teams, focusing on promoting from within. Matthew Hardy is now product head AGM ...