Industry News
CNA Said to Seek Buyer for $500M Annuities Unit: Bloomberg Sources
CNA Financial Corp., the insurer controlled by Loews Corp., is looking to sell its payout annuities business to focus on property and casualty coverage, three people with knowledge of the matter ...
Ex-AIG Chief Greenberg Fails to Persuade Judge to Leave Case
Former AIG Inc. Chairman Maurice "Hank" Greenberg lost a second bid to have a judge remove himself from an eight-year-old lawsuit brought by the New York attorney general's office. Greenberg in July ...
Canada’s Intact Financial Announces $270M Third-Quarter Catastrophe Loss Estimate
Intact Financial Corp on Monday announced estimated third-quarter catastrophe losses, net of reinsurance, of $270 million pretax ($199 million after tax or $1.51 per share). In aggregate, 10 events ...
Merchants’ ‘A-‘ Rating Gets Negative Outlook Attached by A.M. Best
On Tuesday, A.M. Best Co. said that while the rating agency has affirmed the "A-" financial strength rating of Merchants Mutual Insurance Company and its subsidiaries, it has also revised the outlook ...
Aspen Re Appoints Lewis as London Head of Casualty Re
Aspen Reinsurance, the reinsurance segment of Aspen Insurance Holdings Ltd, announced the appointment of Jamie Lewis as head of its casualty reinsurance business in London on Tuesday. Lewis will be ...
Florida’s Heritage Insurance Announces Russell as CUO
Heritage Insurance has named Mel Russell as its new chief underwriting officer, executive vice president and director of sales and marketing, the company announced Tuesday. Russell has 36 years of ...
How Government Shutdown Will Affect P/C Insurance Industry
The property/casualty insurance industry should not be seriously affected by the federal government shutdown. Since the industry is largely regulated by the states, not Washington, the impact on the ...