Industry News
Investors Aren’t Impressed by XL Group’s Proposed Catlin Acquisition
XL Group plc's acquisition discussions with Catlin for a rumored $3.97 billion-plus aren't exactly wowing investors. Media outlets reported that the insurer and reinsurer's stock dropped nearly 4 ...
Farmers Mutual Hail Will Buy Deere’s Crop Insurance Unit
Deere & Co., the world's largest manufacturer or agricultural machinery, agreed to sell its crop insurance segment to Farmers Mutual Hail Insurance Co. of Iowa, retreating from a business that ...
For years, the insurance industry has been working to reduce the friction that slows down underwriting, claims, and servicing. Now,...
Allstate Announces Management Shakeup, Customer Focus
Allstate Corp. announced Wednesday a management shakeup in a reorganization aimed at focusing attention closely on customers and improving efficiency of operations. Allstate said that Matt Winter, ...
Fitch: Capital Levels, Continued Profits Support Stable P/C Outlook
In addition to opining that the momentum behind premium rate hikes is now exhausted in the property/casualty insurer sector, Fitch Ratings delivered predictions on key financial measures for 2014 and ...
What Analysts Are Saying: Have P/C Prices Peaked?
With the hardening price phase officially over for property/casualty insurers by some accounts, analysts are not yet predicting any severe price declines for the year ahead—and underwriting profits ...
Hiscox Re’s Definition of Innovation: Offering a ‘Twist of Lime’
Reinsurance innovations at Hiscox Re don't necessarily come in the form of entirely new products, according to Mike Krefta, the chief underwriting officer. Rounding out offerings like RAP and ...
Fireman’s Fund Goes the Way of the Dodo Bird With ACE Acquisition Deal
The Fireman's Fund Insurance Co. brand is all but finished now, thanks to an end-of-year M&A deal. ACE Group disclosed on Dec. 18 that it has agreed to buy Fireman's Fund's high-net-worth ...
Berkshire Hathaway Arm Unveils Asset Management Liability Policy
Berkshire Hathaway Specialty Insurance has added asset management liability insurance to its Professional First suite of professional liability products. The policy provides clear and customizable ...