Articles by Susanne Sclafane

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 …

Analysis of Chubb’s Future Position in P/C Product Lines

Just a little over six months ago, ACE announced a deal to acquire the high-net-worth personal lines business of Fireman’s Fund from Allianz, competing against Chubb, which holds the leading position in the space. The announcement that ACE will buy …

A Closer Look at Berkshire Hathaway’s Insurance Operations

Carrier Management Special Report Warren Buffett’s insurance beginnings and predictions; breaking out the insurance and reinsurance results; the growth and expectations for Berkshire Hathaway Specialty Insurance; singling out CEOs; repeating past remarks; the $3 billion premium and more. This is …

Berkshire Profit Soars; Geico, Gen Re Profits Up

Net income for Berkshire-Hathaway soared nearly 41 percent to $6.4 billion in second-quarter 2014, with nearly $2.0 billion of investment gains lifting the total, while underwriting profits for Berkshire-Hathaway’s property/casualty operations dipped 1.6 percent (before taxes). Pretax underwriting profits overall—for …

Deal Analysis: Why Validus Is Buying Western World

The combination of Validus Holdings and Western World Insurance Group fills in “missing pieces” for both organizations, Validus’ chairman said in late June, detailing finer points of a $690 million deal that was announced June 23. For Western World, the …