News
Insurance
The performance of the commercial automobile insurance segment in the US has lagged that of other property/casualty (P&C) industry sectors for several years and continued to deteriorate through the third quarter of 2017, according to AM Best. 19 January 2018
Insurance
Wildfires in Northern California and in Southern California caused record-breaking insured losses in 2017, impacting re/insurers’ profitability and requiring changes in underwriting and the underlying risk models. 17 January 2018
Insurance
US-bases commercial insurer CNA has appointed Carrie Goesel as vice president, financial institutions underwriting. 9 January 2018
Insurance
Simon Beale, currently chief underwriting officer of MS Amlin, will succeed Charles Philipps as the CEO in April 2018. 4 January 2018
Insurance
Sompo International's US insurance platform has reached an agreement to purchase the operating subsidiaries of Lexon Surety Group. 4 January 2018
Insurance
Armour, a P&C run-off insurance business, has raised some $500 million in equity commitments in partnership with an investor group led by Aquiline Capital Partners, a New York-based private equity firm. It will form a new reinsurer with the money. 4 January 2018
Insurance
XL Group's group chief enterprise risk officer (CERO) Jacob Rosengarten has retired. His successor has been named as Fielding Norton, previously deputy CERO. 4 January 2018
Insurance
AM Best is revising its outlook on the commercial lines segment of the US property/casualty industry to stable from negative for 2018, citing an embedded change in the sophistication of the segment’s pricing and underwriting infrastructure and the segment’s resilience amid a variety of macroeconomic and insurance market issues in recent years. 4 January 2018
Insurance
Pioneer Underwriters has hired a financial lines underwriter from Chubb to boost its financial institutions unit. 4 January 2018
Insurance
The re/insurance industry will bear record catastrophe losses of $135 billion in 2017 following hurricanes Harvey, Irma and Maria as well as a severe earthquake in Mexico, according to Munich Re’s calculations. 4 January 2018
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