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Insurance
Chubb believes that it can achieve more than $350 million in savings by year-end 2022 and $500 million by year-end 2023 through the use of robotics and artificial intelligence (AI) as it eliminates low-value activities, according to a December 2018 investor presentation. 4 December 2018
Insurance
The Lloyd’s Lab has launched a new global search for the next cohort of insurtech innovators. 4 December 2018
Insurance
Fitch Ratings has revised the sector outlook for US property and casualty (P&C) insurers to stable from negative. 4 December 2018
Insurance
Chubb expects an impact of approximately $225 million pre-tax, or $195 million after tax from the California wildfires in the fourth quarter of 2018. 4 December 2018
Insurance
Barbican Insurance Group has appointed Emma Watson as class underwriter for property treaty from CNA Hardy. 4 December 2018
Insurance
AM Best has changed the Financial Strength Rating (FSR) to a Non-Rating Designation of F (In Liquidation) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “f” from “a-” of California-based Merced Property & Casualty Company. 4 December 2018
Insurance
Insured losses from the magnitude 7.0 earthquake that struck Alaska on Nov. 30, 2018 are likely to be limited by a low earthquake insurance take-up rate (about 9-12 percent for homeowners and higher for businesses) and high deductibles (10-20 percent of policy limit), according to Morgan Stanley Research. 4 December 2018
Insurance
While most of the leading European insurers have by now taken action on coal, none of the nine US insurers assessed have taken any steps, according to the Unfriend Coal campaign. 3 December 2018
Insurance
Mike Reynolds, CEO of JLT Re has stepped down from his position. 21 November 2018
Insurance
Arch Insurance has appointed Hugh Sturgess as the new CEO of Arch Insurance International, succeeding Matt Shulman who was recently named CEO of Arch Insurance North America. 21 November 2018
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