Industry News
CNA’s Specialty Arm Helped Carry Q2 Toward Solid Results
CNA Financial Corp. dealt with higher catastrophe losses in its 2016 second quarter. But the property/casualty insurer did well in its specialty and commercial divisions, and net income soared. Also, ...
Kemper Wins A.M. Best Ratings Affirmation, Plus Warnings of Limited Growth
Kemper Corp. won some ratings affirmation validation from A.M. Best, but that good news is paired with a warning of the insurer's limited growth potential down the line. A.M. Best affirmed the ...
Executives On The Move at Chubb, JLT Re, QBE and GEICO
Chubb has a new chief reinsurance officer. JLT Re named a new Atlanta-based executive. QBE North America hired on a new executive from The Hartford. GEICO promoted a rising executive in New York. *** ...
The Hartford Completes $168M M&A Deal for E&S Outfit Maxum Specialty
The Hartford Insurance Group (HIG) has completed its acquisition of Maxum Specialty Insurance Group for $168 million in cash. The transaction, announced in March, closed on July 29. Maxum will ...
The Hanover Barely Ekes Out Q2 Profit, Thanks to Losses at Lloyd’s Chaucer Arm
The Hanover Insurance Group barely eked out a profit in the 2016 second quarter; large losses and catastrophe hits sustained by its Chaucer division are generally to blame. Net income came in at $2 ...
Hartford’s ‘Difficult Stretch’ Led to Large Q2 Profit Plunge
Hartford Financial Services Group Inc. posted the third-biggest decline in the S&P 500 Index after second-quarter profit plunged on losses from auto insurance. The insurer dropped $4.08, or 9.3 ...
Sports-Related Brain Injury Insurance Claims Poised to Spike: S&P
Insurance claims could spike for sports-related brain injuries in the U.S. and U.K., thanks to increased awareness in both countries and a high-profile settlement involving National Football League ...
AXA, China Online E-Commerce Giant Alibaba to Explore Distribution Partnership
AXA is hoping to get into the global e-commerce game through a new partnership formed with China's online marketplace giant Alibaba. The arrangement actually involves three parties: AXA, Alibaba and ...