Articles by Suzanne Barlyn

John Hancock Will Only Sell Interactive Life Insurance with Fitness Data Tracking

John Hancock, one of the oldest and largest North American life insurers, will stop underwriting traditional life insurance and instead sell only interactive policies that track fitness and health data through wearable devices and smartphones, the company said on Wednesday. …

CEO Duperreault Bets on Underwriting Culture, Greenberg Ways in Restoring AIG to Greatness

Brian Duperreault, who rejoined American International Group Inc. as chief executive officer last year to turn the company around, remembers another era when the insurer was trying to blaze a trail toward greatness. In 1973, Duperreault arrived at AIG’s old …

Prudential Joins Direct-to-Consumer Movement

Prudential is going straight to consumers with its insurance and investment products for the first time in its 143-year history, a move that follows rivals and startups which are already well established in the field. The direct-to-consumer service marks a …

Lloyd’s Provides Insurance for Cryptocurrency Storage

Kingdom Trust, a company that stores digital currency for investors, has secured insurance coverage through Lloyd’s of London to protect against theft and destruction of those assets, the company said on Tuesday. The move by Kingdom Trust, which has $12 …

AIG’s Q2 Profit Drops 17% as General Insurance Fails to Improve

American International Group Inc on Thursday reported a 17 percent fall in quarterly profit as its general insurance business failed to show improvement, missing analysts’ expectations. AIG shares fell more than 5.5 percent to $52.15 after hours. Chief Executive Brian …

Insurers Being Asked About Asbestos-Talcum Exposure After J&J $4.6 Billion Verdict

Wall Street is trying to figure out whether the U.S. insurance industry will bear any costs from a record $4.69 billion judgment against Johnson & Johnson awarded to customers and their families who claimed that asbestos-contaminated talc caused ovarian cancer. …

Global Insurers Reassessing Iran Business In Light of Sanctions Threat

Global insurers are taking stock of how the U.S. withdrawal from an international agreement to deny Tehran nuclear weapons, and threatened sanctions against companies that do business with Iran, could affect them. Insurance broker Arthur J. Gallagher & Co. said …

Weinstein Sues Chubb Seeking Legal Defense Coverage in 11 Sex Harassment Suits

Film producer Harvey Weinstein is fighting back against personal indemnity insurer Chubb Ltd., saying Chubb must pay for his legal defense against 11 lawsuits that accuse him of sexually harassing or assaulting women over the past three decades, according to …

Activist Icahn Breaks Up with AIG, Sells Shares

Billionaire investor Carl Icahn has sold his stake in American International Group Inc, ending a more than two-year association with one of the largest U.S. property and casualty insurers, according to a person familiar with the matter. The activist investor …

AIG CEO Vows to Improve Bottom Line by Year End

American International Group Inc. executives on Thursday defended their strategy for transforming the company, saying some key improvements would take hold by year-end, but failed to convince investors as shares slid more than 6 percent. The New York-based insurer reported …