Articles by L.S. Howard

After Months of Development, B3i’s Blockchain Prototype Is Ready for Testing

The industry’s Blockchain Insurance Industry Initiative (B3i) has developed a reinsurance blockchain prototype for a property excess of loss contract—and could be on the cusp of an industry revolution. Unveiled this week at the reinsurance Rendez-Vous de Septembre in Monte …

QBE Group CEO Neal to Exit; Regan to Succeed Him in January

QBE Insurance Group today announced that John Neal, Group chief executive officer, will be stepping down after five years in the role. The board of directors has appointed Patrick Regan, chief executive officer Australian and New Zealand operations and previously …

Insurtech Firms Often Help, Not Disrupt, Traditional Reinsurers: JLT Re

A wave of insurtech startups are entering the re/insurance market – but that’s not necessarily a disruptive trend, according to a report published by JLT Re. Indeed, the report points to close collaboration between many new insurtech companies and established …

Japan’s Sompo Holdings to Sell Sompo Canopius for $952M to Centerbridge

Japan’s Sompo Holdings Inc. announced it has agreed to sell Lloyd’s re/insurer Sompo Canopius AG to a private equity consortium led by Centerbridge Partners for $952 million. On completion of the purchase, Canopius will become a standalone business led by …

Former Marsh Executive Bob Newhouse Dies on Aug. 26

Former insurance industry executive and innovator, Robert “Bob” J. Newhouse Jr. died on August 26, 2017, following a brief illness. He spent 36 years at Marsh & McLennan Cos. (MMC), where he served as a senior executive for Guy Carpenter …

QBE H1 Profits Rise 73% on Australia/N. Zealand Rate Hikes, N. America Growth

QBE reported a healthy profit hike during first half of 2017, despite heightened claims activity in its Emerging Markets’ division, which reported a combined ratio of 110.8 percent. This poor performance has led to the creation of two separate divisions …

4 European Reinsurers Maintain Pricing Discipline in Tough Market: Fitch

The four largest European reinsurers – Munich Re, Swiss Re, Hannover Re and SCOR – have largely maintained pricing and policy terms without a significant drop in their business volumes, despite relentless soft market conditions, according to Fitch Ratings. Fitch …

Key to Good Leadership: Honest Self-Appraisal – Part 2, Catlin Interview

Second of Two Articles Good leadership is essential if the industry is going to successfully navigate the challenges ahead, Stephen Catlin told Insurance Journal during a recent interview, as he looked back at lessons he’s learned during his 40-year journey …

Industry Relevance and Expertise ‘Ours to Lose:’ Catlin

First of Two Articles After 44 years in the insurance business, Stephen Catlin is retiring at the end of 2017. While he’ll be retiring from his role as executive deputy chairman of XL Group, he emphasizes that he won’t be …

Zurich Reports 21% Hike in Net Income as Restructuring Program Takes Hold

Zurich Insurance says its restructuring program is on track to achieve its goals over the next few years, continuing its work on cutting expenses, stabilizing its property and casualty business and rebalancing its portfolio. The proof is in the numbers. …