Industry News
CNA Wants 11,000 Former Employees to Give Up Their Pensions
CNA Financial Corp., the commercial insurer majority-owned by Loews Corp., offered lump-sum payments to 11,000 former employees to encourage them to give up their pensions. The program could reduce ...
Top 25 D&O Insurers Show Healthy Growth: SNL
Direct premiums written for the directors and officers liability insurance industry grew 7.35 percent year over year in the first half of 2014, rising to $2.91 billion, according to an SNL Financial ...
AAA: Sleepy Drivers Trigger More Auto Accidents Than Expected
Auto insurers take note: Drowsy driving leads to motor vehicle crashes at much higher levels than federal statistics currently suggest, a new study has concluded. The AAA Foundation For Traffic Study ...
XL Group’s CEO Bashes Hedge Fund Insurance Investments
Hedge funds looking for new investments may be pushing too fast into insurance, said Michael McGavick, the chief executive officer of XL Group Plc. McGavick joins Franklin Montross, the CEO of ...
The Odds Ex-AIG CEO Greenberg Will Win His Bailout Lawsuit are Increasing
Lawyer David Boies has a shot at an upset win in the trial of Maurice "Hank" Greenberg's $25 billion bailout case against the U.S. government, a turnaround from the weak odds he was given just a ...
Progressive CEO Renwick Laments Drop in New Agency Auto Applications
While Progressive Corp. generally performed well in Q3, Glenn Renwick, chairman, president and CEO of the Ohio property/casualty insurance giant, was starkly unhappy with the 14 percent drop in new ...
AIG Will Fork Over $35M to Settle New York Licensing Issue
Insurer American International Group will pay a $35 million penalty for violations related to former subsidiaries that solicited insurance business in New York without a license, the New York State ...
Fairfax’s Watsa Says Deflation ‘In the Air’
Prem Watsa is betting on U.S. government debt at his Fairfax Financial Holdings Ltd. to guard against deflation amid stagnation in European economies and slumps in commodity prices and Chinese real ...