P&C Companies News

A.M. Best Downgrades Ratings of China’s Hyundai Insurance After Tianjin Blast

A.M. Best has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and the issuer credit rating to “bbb” from “a-” of Hyundai Insurance (China) Co. Ltd., or HIC. Following these actions, the ratings remain under review with negative implications. …

2,000 Agents Can’t be Wrong: They’re About to Tell Us What They Want from Carriers

Channel Harvest Research, in partnership with Insurance Journal, recently launched its 2016 national survey of independent agents’ attitudes about their carrier partners. This is the ninth annual study on key elements of the property/casualty agent-carrier relationship. Agents and brokers have …

AXA to Buy Liberty Ubezpieczenia, Polish P&C Operations of Liberty Mutual

AXA announced it will acquire Liberty Ubezpieczenia, the Polish property & casualty operations of Liberty Mutual Insurance Group for 92.3 million Polish Zloty ($23 million), plus the net asset value outstanding as of the date of closing. Liberty Ubezpieczenia is …

IICF Unites P/C Industry for Record Year of Giving

Charity begins at home… and in the office. The year 2015 was a record-setting one for charitable giving and volunteering by property/casualty insurance professionals in offices across the  insurance industry. Leading the charitable activities for the industry is the Insurance …

IT Workers, Doctors, Dentists Less Likely to Lose Jobs to Robots

Computer scientists, doctors and dentists are the jobs least likely to be taken by robots as automation spreads through advanced economies, according to Bank of England Chief Economist Andy Haldane. Speaking in Parliament this month, Haldane said analysis by staff …

P/C Industry Growing and Aligning Its Charitable Giving

U.S. property/casualty insurers have increased their charitable giving by an average of 15 percent since 2011, to an industry total of $575 million, outpacing inflation and moving closer to what many industry leaders believe the public expects, according to the …

A Look at the Highest Paid U.S. Corporate Director Posts

Outsize pay for chief executive officers has been a bone of contention among shareholder activists for years. What’s less known is that the directors on board-compensation committees — the very people who decide to give out those large CEO salaries, …

Scottsdale Insurance’s Miller Departs to Lead Parent Nationwide’s Venture Arm

Michael Miller, the longtime president and chief operating officer of Scottsdale Insurance Co., has quietly moved onto a new executive role with corporate parent Nationwide where he’ll manage and spearhead strategic investments for the insurance giant. Miller is the new …

Financial Strength Rating Remain Unchanged for Liberty Mutual: A.M. Best

The financial strength rating of A (Excellent) and the issuer credit ratings (ICR) of “a” for members of Liberty Mutual Insurance Companies (Liberty Mutual), as well as Liberty Mutual Insurance Europe Limited (LMIE) (United Kingdom) and Liberty Life Assurance Company of …

ACE Appoints Commercial P&C Leaders for Overseas General Insurance Division

ACE Ltd. has appointed the commercial property & casualty leadership team for the company’s Overseas General Insurance division. The leadership appointments will take effect upon completion of the acquisition of Chubb, which is expected in the first quarter of 2016. …