Industry News
Britain’s Floods Could Cost Insurers $2.5 Billion
The bill sent to insurers from storms bringing hurricane strength winds and widespread flooding to parts of Britain since December could reach 1.5 billion pounds ($2.50 billion), according to ...
Employee Count Down 16% at The Hartford
Hartford Financial Services Group Inc. cut its staff by 16 percent last year as Chief Executive Officer Liam McGee narrowed the insurer's focus. The insurer had about 18,800 employees as of Dec. 31, ...
For years, the insurance industry has been working to reduce the friction that slows down underwriting, claims, and servicing. Now,...
Study Shows P/C Insurers Plan to Hire, Grow Significantly in 2014
More than half of all insurance companies responding to a recent survey say they plan to increase staff in 2014, although hiring for the most-in-demand positions may prove difficult. That's according ...
Berkshire Posts 11th Straight Year of Underwriting Profit; Buffett Expects Billions from Specialty Ops
Insurance operations contributed $5.7 billion to total operating income of $15.1 billion for Berkshire Hathaway in 2013—with an underwriting profit of $2.0 billion (after taxes) representing the ...
Highlights from Warren Buffett’s Annual Letter
Investors eagerly await Warren Buffett's letter to Berkshire Hathaway Inc. shareholders each year for its plain-spoken insight into the billionaire's financial strategy and economic predictions. ...
Buffett Seeks More Elephants
Warren Buffett's Berkshire Hathaway Inc. on Saturday signaled he plans to make more large acquisitions to expand a conglomerate that posted a record profit in 2013, helped by a recovering U.S. ...
XL Promotes Tocco to Head of North America P/C
XL Group on Friday announced the appointment of Joseph A. Tocco as chief executive of North American Property and Casualty, effective immediately. He will report to Greg Hendrick, chief executive of ...
Ross Curtis Takes CUO Role at RenRe
RenaissanceRe Holdings Ltd. announced Wednesday that Ross A. Curtis will become the Company's Group Chief Underwriting Officer. The CUO role is currently held by President and Chief Executive ...