Industry News
Easing of Iranian Oil Ship Insurance Sanctions Likely Months Away
A pledge by world powers to ease ship insurance sanctions on some Iranian oil exports is likely to take months to come into effect due to complex law and regulation and to insurers' unease over ...
Five Insurers Bid for Citigroup Distribution Deal in Asia
Five insurers including MetLife Inc. and AIA Group Ltd. have submitted final bids to have their products distributed by Citigroup in Asia, a deal estimated to generate more than $10 billion in ...
Smith Appointed President of Aon Benfield’s U.S. Business
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, on Wednesday announced the appointment of Kelly Smith as president of its U.S. business, effective immediately. ...
Zurich P/C Chief Kerner Sees ‘Dramatic’ Cyber Attack in Near Future
Michael Kerner, who oversees property-casualty coverage at Zurich Insurance Group AG, said computer threats are escalating and may soon cause "dramatic" disruptions for businesses and individuals. ...
Bryant’s Reinsurance Fortune Helps Power Alabama’s Football Dominance
The University of Alabama opened a new football-training center last February. Any professional team would be happy to have it. The amenities include a $9 million weight room, a hydrotherapy pool ...
Generali CEO Greco Eyes Extra Cost Cuts to Boost Capital
Assicurazioni Generali SpA, Europe's third-largest insurer, plans to cut an extra 150 million euros ($204 million) of costs by 2015 and reduce debt to boost profit and strengthen capital. The company ...
A.M. Best Urges Reinsurers to Innovate, Close Disaster Coverage Gaps as Capital Markets ‘Get Comfortable’
Characterizing the threat of third-party capital as an "adrenaline shot to the heart" of U.S. and Bermuda reinsurers, A.M. Best urges the reinsurers to innovate beyond simply managing capital of ...
AXA Hires Barclays’ Porter to Oversee $515 Billion of Bonds
Axa Investment Managers, a division of France's largest insurer, hired John Porter from Barclays Plc to oversee 380 billion euros ($515 billion) in bonds. Porter, as global head of Axa's fixed-income ...