insurance News
XL Group CEO McGavick: In Q3, Catlin Merger Benefits Are Becoming Clearer
XL Group said it boosted net income and improved its property/casualty combined ratio during the 2016 third quarter, even as pretax natural catastrophe losses soared. CEO Mike McGavick asserted that ...
RMS Hurricane Matthew Insured Loss Estimate: $5B in U.S., $3B for Caribbean
Hurricane Matthew-related insured losses are still being tallied, but RMS said that the number will reach as high as $5 billion in the U.S. and $3 billon in the Caribbean. The catastrophe modeling ...
Munich Re Gets A.M. Best Ratings Affirmation for Resilience in Tough Market
As the global reinsurance market trudges on with heavy competition, consolidation pressures and low interest rates, Munich Re has held its own. For that reason, A.M. Best affirmed its financial ...
Executives On The Move at CNA, JLT Re, RSA and XL Catlin
CNA brought on a Chubb veteran to help run its Global Services arm. JLT Re hired a new executive to lead and build up its South Korea operations. RSA named a new group pricing director. XL Catlin has ...
Hurricane Matthew Damage Won’t Harm Most Insurer Ratings: A.M. Best
A.M. Best does not anticipate a significant number of rating actions related to Hurricane Matthew, as most rated insurance carriers have sufficient capital and appropriate reinsurance programs in ...
Slow Canadian Wildfire Insurance Payments Spur Anger in Burnt-Out City
Some five months after the wildfires that devastated Fort McMurray were extinguished, anger over red tape and the slow pace of insurance payouts and permit issuance is flaring in the remote northern ...
Insurers Risk Plenty by Keeping Their Technology Budgets Static: Novarica
Insurers' technology budgets remain flat in an age of disruption and technology - a risky move in the face of increased rivalry from tech-enabled upstart competitors, consulting firm Novarica said in ...
AIG CEO Peter Hancock’s Innovation Sources: Nobel Prize Winners, Client Councils and More
Here's an innovation you may not have heard about in the insurance world: client councils. AIG President and CEO Peter Hancock said that his company forms and hosts client councils in order to ...