Articles by Susanne Sclafane

Chubb CEO Greenberg Rolls Out Welcome Mat for High Net Worth Competitors

Estimating that the high-net-worth (HNW) personal lines market has more than $30 billion worth of business up for grabs, and the small commercial lines market, another $80 billion, Chubb Limited CEO Evan Greenberg sees room for competitors. During an earnings …

Zurich Restructure on Track, but Organization Still too Complex: CEO Greco

While Zurich Insurance Group’s new chief executive officer believes the insurer is on the right track in terms of growth and profit, the organizational structure remains too complicated, he suggested during an investor conference yesterday. “Zurich is world famous for [a] …

CNA Reports Mixed Bag in Q1 Results; Profit Falls But Combined Ratios Improve

CNA Financial Corp.’s first three months of 2016 produced a mixed bag of results. Fallout from a 2010 agreement to cede asbestos and environmental pollution liabilities to National Indemnity Co. also caused some financial pain. The Chicago-based carrier reported plunging …

Buffett Downplays Succession Speculation In Wake of Jain Assuming General Re Role

Among the insurance-related highlights of Berkshire Hathaway’s annual meeting in Omaha, Neb. was Warren Buffett’s answer to a question about succession planning for subsidiaries. “There are no tea leaves to read in the fact that Ajit [Jain] is supervising Gen …

Why Google’s Not So Smart or Fast and Insurance Agents Aren’t Dead… Yet

Insurance agents aren’t dead yet, but even underwriters participating in the personal automobile insurance market may be looking for another line of work within the next two decades, industry observers said at a recent conference. “The most radical view of …

The Struggle Getting U.S. Regulators to Understand Insurance

The designation of MetLife as a systemically important financial institution by the Financial Stability Oversight Council (FSOC) is a done deal. But exactly what that means in terms of higher regulatory standards is still not clear. Those details could come …

The Struggle Getting U.S. Regulators to Understand Insurance

The designation of MetLife as a systemically important financial institution by the Financial Stability Oversight Council is a done deal. But exactly what that means in terms of higher regulatory standards is still not clear. Those details could come this …

Fitch: Overall P/C Reserves Adequate; Prior Years’ Favorable Trend Continues

Property/casualty insurers continued to take down loss reserves for prior years in 2014, which marked the ninth straight calendar year of favorable development for the industry in aggregate, according to a new report from Fitch Ratings. Fitch also estimates that …

‘We Start Businesses Instead of Buying Them,’ Berkley Says in Last Earnings Conference Call as CEO

William R. Berkley’s last earnings conference call as chief executive officer of the company that bears his name lasted just over 20 minutes, with a lack of questions about a less-eventful quarter than competitors keeping it shorter than most. “I …

Cyber Risk Insurers Lag in Buying Cyber Cover

As recently as two years ago, only half of the top 10 carriers writing cyber insurance had purchased cyber coverage themselves, a broker specialist said recently. During an interview at the Standard & Poor’s 2015 Insurance Conference, Kevin Kalinich, global …