Lloyd’s of London made a heavy loss in 2017 after being hit hard by the US hurricane season. While this may have been expected due to the market’s gearing towards US natural catastrophes, Lloyd’s top executives are now urging the market to boost profits by curbing costs and being more cautious with its risk selection.
Financial services may not be included in a Brexit deal between the EU and the UK which, at best, may increase operational costs for insurers, but in a worst-case scenario may reduce the UK-based firms’ access to EU customers. Intelligent Insurer reports.
Three years after Sirius International Insurance Group was acquired by China Minsheng Investment (CMIG International), the company is rolling out ambitious growth plans and is readying itself for a potential initial public offering, Allan Waters, the company’s chief executive, tells Intelligent Insurer.
AXA’s business mix will fundamentally change once its acquisition of XL Group is completed. Property/casualty (P&C) business will represent half its book of business as it diversifies away from being mainly a life & savings insurer.
A group of investors is taking AmTrust Financial Services private to create a better environment to fix the problems that have been haunting the New York-based insurer. AmTrust needs to address financial controls as well as pricing and reserve adequacy issues.
American International Group (AIG) has been loss-making for the last two years, but the reported 2017 net loss of $6.08 billion hides improvements on the operating side as a more in-depth look into the numbers reveals and CEO Brian Duperreault is working on getting the insurance giant back on a growth path. A changed reinsurance cover structure is also part of the plan.
The insurance industry is facing a chronic dearth of talent—and potentially customers—that could reshape the industry unless it finds a way to engage with so-called millennials, an insurance claim consultancy has claimed.
In an increasingly digitised age, the art of the presentation is becoming lost, which can be a problem in a people-oriented industry such as insurance. To rekindle this lost skill, some insurers are turning to a stand-up comedian to help them wow an audience.
The chief executive of Navigators says he sees great potential for expansion in the European retail market for its specialty products.
American International Group (AIG) CEO Brian Duperreault makes his first major move to reshape AIG and position it for profitable growth.