As of Monday , November 11, 2019 03:54 PM EDT
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NY Lawmaker to Introduce Bill Creating State Title Insurance Agency: A New York legislator looking to challenge the title insurance industry will be introducing a bill Nov. 12 looking to study whether the state should go into the title insurance business. Sen. Brad Hoylman, D-Manhattan, ...
Date: November 11, 2019 03:54:25

Aon Sues Alliant Alleging Employee Poaching, Lost $1 Million Revenue: Aon has sued Alliant Insurance Services, Inc., claiming the competing broker has poached seven top employees, resulting in lost clients’ accounts worth at least $1 million in annual revenue. “Aon has lost two clients, one ...
Date: November 11, 2019 03:19:01

RMS AP Managing Director: Japan Storms Stress Supply Chains, Business Interruption: Andy Woodhouse, managing director, Asia-Pacific, RMS, said 20% to 30% of Japan’s economy is based on technology and dependent on complex supply chains. Woodhouse spoke with AM BestTV at the 16th Singapore International ...
Date: November 11, 2019 02:51:22

FEMA Delays New NFIP Rates Until 2021: Federal Emergency Management Agency has delayed implementing a new National Flood Insurance Program rating structure, which could have boosted annual premiums as much as 18% for coverage on single-family homes, according to ...
Date: November 11, 2019 02:15:38

Alliant Specialty Names Co-Chief Operating Officer: Alliant Insurance Services has named John Ludwig to succeed Jeff Moench as co-chief operating officer of Alliant Specialty. Ludwig will work alongside co-COO Michael Cusack. In addition to his new role, Ludwig will ...
Date: November 11, 2019 01:47:38

Pinnacle Actuarial Resources

MGIC Appoints New Executive Vice President and Chief Risk Officer: Mortgage Guaranty Insurance Corp. has named Steven M. Thompson as executive vice president and chief risk officer. Thompson has over 30 years experience in the mortgage insurance industry. He has been at MGIC since 1998 ...
Date: November 11, 2019 01:33:46

PartnerRe Posts Third-Quarter Profit as Losses Decline, Premiums Rise: PartnerRe Ltd. posted a $227.7 million net income in the third quarter, compared with a $94 million net loss a year earlier, helped by lower catastrophic and attritional losses. Results were also boosted by net premiums ...
Date: November 11, 2019 01:29:46

Kaiser Permanente CEO Tyson Dies at 60: Bernard J. Tyson, chairman and chief executive officer of Kaiser Permanente, died in his sleep Nov. 10 at the age of 60. Effective immediately, the board of directors named Gregory A. Adams, executive vice president and ...
Date: November 11, 2019 11:41:31

Best’s Market Segment Report: European Insurers and Illiquid Assets — An Upwards Trajectory: In what could be a pivotal development for the insurance industry, insurers have encountered a range of influences that have raised the profile of illiquid assets on their balance sheets. In this context, AM Best recently ...
Date: November 11, 2019 10:57:43

Beazley Head of AP: Building Distribution in Asia Means Building Multiple Alliances: Lucien Mounier, head of Asia-Pacific, Beazley Syndicate, said reaching Asia’s diverse markets is a team effort that involves working with managing general agents, local insurers and others. Mounier spoke with AM BestTV at ...
Date: November 11, 2019 10:24:38

Natural Cats and Trapped Capital Pushing Property-Cat Retrocession Rates: The twin stressors of natural catastrophe losses and trapped capital in the insurance-linked securities space have been driving tightened capacity and higher rates in the property catastrophe retrocession insurance market, ...
Date: November 11, 2019 10:21:15

Allianz CFO: Life and Health Margins Strong Despite Low Interest Rates: Allianz S.E. third-quarter net income increased 5.8% €2.03 billion (US$2.24 billion) on solid revenue growth and stable operating profits, Chief Financial Officer Giulio Terzariol said in an earnings conference ...
Date: November 08, 2019 04:02:24

NMG CEO: Technology Advances Are Set to Bring Exponential Change: Mark Prichard, chief executive officer, NMG Consulting, said insurers in countries such as China and South Korea are demonstrating tech-based innovation, but those developments have been slow to develop in many other ...
Date: November 08, 2019 03:57:38

Lloyd’s Extends Reorganization, Will Convert to Single Governing Board Next Year: As it continues to redefine itself, Lloyd’s said it will combine the Council of Lloyd’s and the Franchise Board into a single governing body next year, allowing it to make more nimble business decisions, according to Lloyd’s ...
Date: November 08, 2019 03:47:39

James River CEO: Evolving Uber Risk Overran Underwriting Assumptions: James River Group Holdings Ltd. walked away from its largest customer, Uber Technologies, because the fast-changing nature of the business and legislative developments made it unprofitable, said the insurer’s chief executive ...
Date: November 08, 2019 03:07:50

UIB CEO: Southeast Asia Reinsurance Market Growing More Stable: Recent losses from typhoons may result in higher reinsurance property rates in Japan, but are not likely to impact casualty lines or other countries, said Hiroki Miyamoto, chief executive officer of UIB Asia Reinsurance ...
Date: November 08, 2019 02:43:14

Axa Sells Remaining Shares of US Spinoff Axa Equitable: Axa S.A. said it is selling its remaining stake in Axa Equitable Holdings Inc. through an offering that is expected to close on Nov. 13. The Paris-based insurance group is selling 144 million shares of Axa Equitable’s ...
Date: November 08, 2019 02:36:56

Allianz Insurance Names New Head of Sales and Distribution: Allianz Insurance has named James Barclay to succeed Phil Ruse as head of sales and distribution for Allianz Legal Protection in Bristol. Barclay will replace Ruse, who is retiring at the end of the year. Barclay will be ...
Date: November 08, 2019 02:34:38

Beazley Posts Double-Digit Premium Growth as Rates Rise: Beazley posted a double-digit increase in year-to-date gross premiums written, driven largely by organic growth and rate hikes across many lines of business, according to Beazley Chief Executive Officer Andrew Horton. For ...
Date: November 08, 2019 02:10:32

Citing Lack of Scale, Vibe Places Lloyd’s Syndicate in Runoff: Lloyd’s managing general agency Vibe Syndicate Management said its Syndicate 5678 at Lloyd’s will be placed into a planned runoff effective Dec. 31, 2019. “It was with considerable regret that our board reached the ...
Date: November 08, 2019 02:07:26

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