Insurers that offer college internship programs have an opportunity, in a hot job market, to get an early start on identifying promising job candidates.
February 01, 2019 Full Story
Chris Folkman
Soaring severity is leading some insurers to exit homeowners insurance in Northern California’s wildfire-impacted or susceptible areas, according to John Bradford, vice president of McGee & Thielen Insurance Brokers Inc.
February 19, 2019 Full Story
Pricing is under pressure ahead of the February 20, 2019 deadline for the marine protection and indemnity (P&I) renewal for ship-owners. Competition in the sector remains strong, exacerbated by a growing fixed-premium market, according to a new special report by AM Best.
February 18, 2019 Full Story
Alternative Markets
Judy Klugman
Asia/Pacific
Australian MGA POP in Mergers and Acquisitions Coverage Partnership With Japan’s Rakuten
POP Insurance Holdings said it and a subsidiary launched a strategic partnership with Rakuten General Insurance Co. Ltd., aimed at mergers and acquisitions transactions in Japan while supporting Rakuten’s growth across the Asia-Pacific region.
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Tokio Marine Posts 39.1% Rise in Net Income in First Three Quarters
Tokio Marine Holdings Inc. saw a 39.1% rise in net income to ¥221.6 billion (US$1.99 billion) on a consolidated basis for the first three quarters of 2018 fiscal year ended Dec. 31.
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David Gregori
Earnings
MS&AD Posts 79.3% Surge in Net Income for First Three Quarters
MS&AD Insurance Group Holdings Inc. saw a 79.3% surge in net income for the first nine months of 2018 to ¥175 billion (US$1.58 billion) on a consolidated basis, according to a statement from the Japanese group.
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Life Insurance
Christopher Conway
Lloyd's
Lloyd’s Managing Agency Antares Promotes Active Underwriter to CEO
Jonathan Battle has been promoted from active underwriter to chief executive officer of Lloyd’s managing agency Antares.
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David Rowland
Mergers & Acquisitions
Mark Cloutier
Auto-Owners Signs Agreement to Acquire California-Based Capital Insurance Group
Auto-Owners Insurance has entered into a definitive agreement to acquire Capital Insurance Group, which will expand its footprint by four states, Chairman and Chief Executive Officer Jeff Tagsold said.
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Special Report
Best’s Special Report: Spanish Insurers Utilise New Technology, but Traditional Distribution Methods Dominate
Spanish insurers are increasingly using technology to cross-sell products and target niche markets as growth opportunities domestically and abroad become increasingly limited, according to a new special report by AM Best.
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State Regulation
West Virginia Governor Names New Insurance Commissioner
James A. Dodrill will take over as West Virginia’s insurance commissioner March 4, according to an announcement by Gov. Jim Justice.
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United Kingdom
Ageas UK Names Chief Financial Officer
The UK affliate of Netherlands-based insurance group Ageas SA/NV has named Jonathan Price chief financial officer.
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Announcements
AM Best Announces Senior Management Changes and Organizational Restructuring
AM Best today announced that Roger Sellek will step down as CEO of AM Best’s EMEA and AP regions effective 31 March 2019. Dr. Sellek joined AM Best in 2007. During his tenure at AM Best Dr. Sellek successfully led the expansion of AM Best’s global business including the establishment of offices in Dubai, Singapore and most recently Amsterdam, with AM Best now providing rating services in more than 90 countries from its key regional hub offices.
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