Industry News
Italy Quakes Could Lead to Limited Insured Losses: RMS
Damage from the earthquake that struck central Italy on Aug. 24 and the subsequent aftershocks that followed is still being assessed. But RMS asserts that insurance losses will be limited because of ...
Berkshire’s Jain Targets Complex Org Structure, Pay Plan in Letter to Gen Re
Ajit Jain, one of Warren Buffett's top managers at Berkshire Hathaway Inc., has a message for the staff that he oversees at Gen Re: It's time for their business to get much leaner and less ...
Millennial Small Business Owners Better at Addressing Risks: Nationwide
Millennial business owners may be far better at addressing professional risks than their older counterparts, a new Nationwide study has found. Their attentiveness to various kinds of ...
Low Prices Ultimately Could Bite London Market Insurers: A.M. Best, PwC Reports
The business outlook for the London insurance market is a familiar one across other global markets: Underwriting profits are under pressure as ongoing soft market prices begin to take a toll. In ...
AIG, Chubb, XL Group Lead in U.S. Cyber Coverage Market Share: Fitch Ratings
The U.S. property/casualty insurance industry generated $1 billion in direct written premium volume for cyber insurance in 2015. AIG, Chubb and XL Group led the market, according to Fitch Ratings. ...
Report: AIG In Early Talks to Sell Lloyd’s Insurance Business
American International Group Inc is in early talks to sell Lloyd's of London Ltd's insurance operations to Canada Pension Plan Investment Board (CPPIB), the Wall Street Journal reported on Tuesday. ...
Allied World Nabs Ex-Travelers Exec to Help Lead U.S. Cyber Insurance Efforts
Allied World Assurance Company Holdings tapped a former Travelers executive to help lead its U.S. cyber insurance efforts. Jason Glasgow is the insurer's new vice president, practice lead – ...
Reinsurers’ Catastrophe Defenses Weakened by Hedge Fund Rivals
It won't take another Hurricane Katrina for reinsurers to face losses from covering the cost of storms and earthquakes. Competitors such as hedge funds have eroded prices so much that a typical year ...