Catastrophe modeling firm AIR Worldwide has estimated that insured losses from Windstorm Christian (known as St. Jude in the UK) will range between €1.5 billion €2.3 billion [$2 to $3 billion], with the majority of insured losses occurring in Denmark …
The Association of British Insurers (ABI) said it expects the country’s insurers to “deal with a total of 105,000 claims, and pay out £130 million [$208 million] to policyholders whose homes, businesses and vehicles were damaged during last week’s St …
The perils of the new Arctic shipping route, warmed by climate change, may diminish with a British-Russian radio navigation initiative, under development to shore up vulnerable satellite-based alternatives. The British system, being trialed in the hectic shipping lanes past Dover …
American International Group Inc. has agreed to settle a $274 million lawsuit by a former executive who said the insurer refused to pay him during the financial crisis in 2008. The settlement came as a trial was due to have …
Munich Re, the world’s biggest reinsurer, plans to buy back €1 billion ($1.352 billion) of its shares as third-quarter profit dropped 44 percent. Net income dropped to €637 million [$861.2 million] from €1.13 billion [$1.528 billion] a year earlier, the …
Assicurazioni Generali SpA, Italy’s biggest insurer, said third-quarter profit rose 75 percent as it earned more from its life segment and property and casualty operations. Net income rose to €510 million ($690 million) from €291 million [$393.4 million] a year …
Swiss Re Ltd., the world’s second- biggest reinsurer, reported better than expected third-quarter profit after non-life premiums rose by a fifth. Net income fell 51 percent to $1.07 billion from a year ago, the Zurich-based reinsurer said in a statement …
Springfield, Ill.-based Horace Mann Educators Corp. has named Stephen P. Cardinal to lead its property/casualty business as executive vice president, effective immediately. Cardinal succeeds Thomas C. Wilkinson, who will retire at the end of the year. Cardinal will be responsible …
Columbus, Ohio-based Nationwide Insurance announced that the company is looking to add 100 new Advantage Program insurance agents in the Dallas, Fort Worth, Austin and San Antonio, Texas markets. Nationwide Insurance Advantage Program agents will serve as independent contractor exclusive …
While generally not a material drag on the U.S. property/casualty industry’s earnings, industry losses from asbestos and environmental (A&E) claims resumed an upward climb in 2012, according to a new A.M. Best Co. report. The report said annual incurred A&E …
