P&C Companies News

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. …

XL to Sell $22B of Life Policies to RGA, as CEO McGavick Narrows Focus on P&C

XL Group Plc agreed to sell about 290,000 life insurance policies at a loss to Reinsurance Group of America Inc. as Chief Executive Officer Mike McGavick narrows his company’s focus to property & casualty coverage after buying Catlin Group Ltd. The deal …

Travelers Appoints Casella as Senior VP, International Insurance

The Travelers Companies Inc. announced that Michael Casella has joined the company as senior vice president, International Insurance. Casella will be responsible for furthering efforts to leverage the expertise from the company’s lines of business – personal, business, bond and …

AXA to Buy Charter Ping An in Philippines, Eyeing P&C Growth Opportunities

AXA Philippines announced it will acquire 100 percent of Charter Ping An Insurance Corp. from GT Capital for 45 million euros ($48.3 million). The acquisition will enable AXA Philippines to offer property & casualty insurance products, along with its current …