Articles by Mark Hollmer

AIG’s High Cost of Hiring Duperreault

American International Group’s decision to recruit Hamilton Insurance Group CEO Brian Duperreault as its next leader won’t come cheap. To begin with, AIG will pay Hamilton $20 million to release Duperreault from contract restrictions that would prevent or restrict him from working …

New CEO Duperreault Interested in Growing AIG, Not Splitting It

American International Group’s President and CEO Brian Duperreault began his first full day in his new job repudiating the idea of splitting the insurer into pieces and simply returning money back to shareholders. “I recognize the value of the company’s …

Ironshore CEO Kelley: Goal Under Liberty Mutual Is to Become Premier Specialty P/C Insurer

Longtime Ironshore Inc. CEO Kevin Kelley said his company has a genuine shot at becoming a “premier” specialty property/casualty insurance company, both domestically and abroad, now that Liberty Mutual Insurance is its corporate parent. “I am dead serious,” Kelley said. …

Bunker, Startup Broker for Small Business, Contractor Insurance, Raises $6 Million

Bunker, a startup digital insurance broker focused on independent contractors and small businesses, has raised $6 million in Series A funding that will help fuel product development and expansion. Hiscox and American Family are among the backers. Omidyar Network, a venture …

The Hartford Open to Acquisitions That ‘Accelerate’ Growth Plans

The Hartford Chairman and CEO Christopher Swift said he remains interested in potential acquisitions – even large ones –  less than a year after completing a noteworthy acquisition. However, plenty of conditions and criteria must be met before his company …

Generali Expands in U.S. with Chicago, San Francisco Offices and 3 Hires

Generali is expanding its U.S. global corporate and commercial operations with the opening of offices in Chicago and San Francisco in a bid to grab more business from U.S. multinational companies. The Italian insurer’s growth comes through its Generali Global …

AmTrust Denies Knowledge of FBI Accounting Probe; Touts New Financial Team

AmTrust Financial saw its stock price plunge nearly 19 percent Tuesday following a Wall Street Journal report alleging a 2014 FBI investigation of its accounting practices. The New York-based insurance company denied knowledge of any investigation and has tried to move on from …

Expect Another Active M&A Year with Tech Gaining Interest, Says Conning

Signs point to 2017 being another year of “robust” mergers and acquisitions, thanks in part to a number of ongoing industry trends and a current government climate that show no sign of letting up, Conning said in a new report. …

Slice Labs Testing Pay-Per-Use Insurance App with Rideshare Drivers

Insurance tech startup Slice Labs has created a pay-per-use rideshare insurance app and is now testing the technology with a select set of rideshare drivers. Plans call for testing the technology and algorithms with a group of 50 people “in multiple …

Departing AIG CEO Gets No Bonus But Will Get $5 Million to Stay Until Successor Arrives

Peter Hancock is getting $5 million in cash to stay on as American International Group’s chief executive officer while the board searches for his replacement. But the insurer’s departing president and CEO will forgo his bonus, according to recent regulatory …