Tower Group International Ltd. announced Nov. 14 that it is restating previously filed audited annual consolidated financial statements for 2011 and 2012, which are contained in Tower’s March 31, 2013 10-K annual report for 2012. Such financial statements “should no …
A survey of North American insurance professionals reveals widespread use of predictive analytics in the property/casualty insurance industry, with as many as 82 percent responding that they use predictive modeling in one or more lines. Earnix, a provider of pricing …
Property/casualty insurance brokers who aren’t diligent about the accounts they’re presenting to American International Group risk being discovered through one of the features of the carrier’s analytical process, AIG’s CEO Bob Benmosche said. Speaking on an earnings conference call on …
A survey of North American insurance professionals reveals widespread use of predictive analytics in the property/casualty insurance industry, with as many as 82 percent responding that they use predictive modeling in one or more lines. Earnix, a provider of pricing …
Property/casualty insurance brokers who aren’t diligent about the accounts they’re presenting to American International Group risk being discovered through one of the features of the carrier’s analytical process, AIG’s CEO Bob Benmosche said Friday. Speaking on an earnings conference call …
Rating agencies have downgraded Tower Group following the insurer’s announcement of loss reserve and goodwill charges in excess of what was expected. Tower has said that the company’s board of directors is reviewing a range of strategic options with its …
Moody’s expects property/casualty commercial insurance rate hikes to continue for the balance of the year, making 2013 the third straight full year of rising rates for commercial lines carriers, according to a special comment published Aug. 26. Referring to survey …
After two property/casualty insurers—Tower Group International Ltd. and Meadowbrook Insurance Group—said they would delay scheduled Securities and Exchange (SEC) filings last week, law firms set the wheels in motion for potential shareholder actions. Last Thursday, Tower Group postponed its second-quarter …
Interview with BHSI’s Peter Eastwood on Building a New E&S Giant When a veteran of CNA joined Berkshire Hathaway Specialty Insurance to lead the new venture’s professional liability division a few weeks ago, the news did not receive the press …
Amounting to just $4.7 billion in aggregate deal value, the 46 merger and acquisition transactions announced in the property/casualty insurance sector in 2012 were near record low levels, according to the latest annual M&A study from Conning. In the last …
