Industry News
Willis Re Tallies $39.5B in Natural Catastrophe Insured Losses for 2016
Insured loss estimates from major natural catastrophes totaled $39.5 billion during 2016, which is the highest level since 2012 when market losses totaled $60 billion, according to a report published ...
AIG Fraud Case Aftermath: Greenberg Blasts New York AG for Destroying ‘National Asset’
Maurice "Hank" Greenberg, the former American International Group Inc. chief executive officer, lambasted the New York State attorney general's office after admitting that he approved two reinsurance ...
Allstate, GEICO Execs Assume Chair Slots at Two P/C Insurance Research Institutes
Two executives – from Allstate and GEICO – have been named chairman of separate institutes focused on P/C insurance industry-related data. Floyd Yager senior vice president, property product ...
Trends in Smart Homes: What’s Next?
The smart home industry is beginning to take hold, and safety and security are going to play a key role. Consumers will be spending $130 billion annually on smart home systems by 2020, according to ...
Former AIG Chairman Greenberg Admits to Wrongdoing in Longstanding New York Fraud Lawsuit
Former American International Group Inc. Chairman Maurice "Hank" Greenberg admitted to participating and approving two fraudulent reinsurance deals as part of a settlement over a decade-old fraud ...
Blackstone Group to Pay Up to $4.8B for Aon’s Employee Benefits Outsourcing Arm
Insurance broker Aon Plc said on Friday it agreed to sell its employee benefits outsourcing business to private equity firm Blackstone Group LP for up to $4.8 billion. Blackstone will pay $4.3 ...
RSA, Post-Restructuring, Debuts New Global Risk Solutions Arm
RSA has finalized a new Global Risk Solutions (GRS) operating model aimed at giving brokers and customers better access to decision-makers and helping the division itself operate with more focus in ...
Markel’s 2016 Saw Investment Income Gains, Higher Cat Losses
Markel Corp. ended 2016 with a drop in net income and increase in the combined ratio, with Hurricane Matthew and the Canadian wildfires to blame for higher catastrophe losses. At the same time, the ...