American International Group said it will invest $1.3 billion over the next three years in its massive AIG 200 initiative, which is designed to revamp and improve core processes, technology infrastructure and services. The company has broken down the effort …
The day after Argo Group International Holdings announced CEO Mark Watson III was retiring “immediately,” investors seemed ecstatic, driving the company’s stock price up 5.6 percent on Nov. 6. Watson’s departure as CEO is a good thing for the bigger …
AIG rolled out a new standalone cyber policy that provides primary insurance protection for a wide range of related risks. The insurance giant is marketing CyberEdge Plus as offering primary protection for property damage, bodily injury, business interruption, product liability …
Fitch Ratings said that newly established transparency about the designation process for globally systemically important insurers (G-SIIs) could help more to proactively stay off the list in the first place. The International Association of Insurance Supervisors, a global standard setting …
Michael Miller, the longtime president and chief operating officer of Scottsdale Insurance Co., has quietly moved onto a new executive role with corporate parent Nationwide where he’ll manage and spearhead strategic investments for the insurance giant. Miller is the new …
The property/casualty insurance industry must change its approach to cyber security and update its coverage approach to help minimize risks, according to a network security expert. “I don’t think we can easily separate cyber risk and property/casualty risk anymore,” FireEye …
Two of the property/casualty insurance industry’s ratings entities – Fitch and Standard & Poor’s – do not see eye-to-eye on whether reinsurance price declines are moderating. Fitch sees the downward trend letting up, but S&P finds that pricing pressures from …
The article Reinsurance Price Drops Moderating? Yes and No, Say Rating Agencies appeared first on Insurance Journal.
W.R. Berkley Corp.’s chairman and CEO slammed the surge of merger and acquisition activity hitting the property/casualty industry in recent months as something driven more by “management ego” than true business needs. “Consolidation that is happening now is frequently about …
The article Berkley Sees ‘Management Egos, Rewards’ Behind M&A Activity appeared first on Insurance Journal.