Industry News
A Boardroom Guide to NAIC’s ORSA
The National Association of Insurance Commissioners voted to implement an addition to U.S. insurance regulation known as the Own Risk and Solvency Assessment Model Act back in 2011, but it is this ...
AIG Chairman Miller Reportedly Stepping Down in July
American International Group Chairman Robert "Steve" Miller intends to step down in July after five years in the role, the Wall Street Journal reported. The insurer's directors have not yet decided ...
Insurance compliance work rarely operates at an entirely predictable pace. A carrier may be managing normal licensing and appointment activity...
Ex-Fireman’s Fund CEO LaRocco Named State Auto’s New Leader
An ex-Fireman's Fund CEO will become the new leader of State Auto Financial Corp., replacing the company's long-time leader as he readies for retirement. Michael LaRocco assumes the president and CEO ...
AIG Raises $500M Through Sale of Shares in China P/C Giant
American International Group Inc. said it sold part of its holding in PICC Property & Casualty Co., China's biggest non-life insurer, for about $500 million. AIG, the largest commercial insurer ...
Lloyd’s 2014 Profit Steady at $4.9B; Combined Ratio Below 90
On Thursday, Lloyd's announced a pretax profit of $4.9 billion, or £3.2 billion, with a return on capital of 14.7 percent and a combined ratio of 88.1. The profit figure was level with the 2013 ...
Hochberg Moves Up as CEO of JLT Re in North America
Global reinsurance broker JLT Re announced last week that Ed Hochberg has been appointed as CEO of JLT Re in North America. Hochberg, who joined JLT Re as part of the 2013 Towers Watson Re ...
Risky Snapshot Drivers May See Rate Hikes, Progressive Says
Progressive Corp., the fourth-largest U.S. auto insurer, said it will begin increasing rates for some risky customers who participate in a program that allows the company to electronically monitor ...
Federal Reserve May Slow Implementation of National Capital Rules
The U.S. Federal Reserve is considering a proposal from life insurers that could delay the implementation of a costly nationwide capital framework for the $1 trillion industry, according to records ...