high net worth market News

AIG Expanding at Lloyd’s With New Unit for U.S. High-Net Worth Market

American International Group Inc. is ramping up its bet on the wealthiest Americans with a new push to offer policies through the Lloyd’s of London marketplace and write as much as $1 billion in gross premiums. AIG plans to create …

The Next Insurance Battleground: High-Value Customers

Competition is tightening across the P&C insurance market. With just 2 percent of new consumers entering the personal lines auto insurance market last year, and with retention rates hovering around 88 percent, most insurers face a zero-sum proposition in which …

QBE’s Zortman Joins AIG to Lead Private Client Group

American International Group said Kathleen Zortman will join the company as president and chief executive officer of Private Client Group, General Insurance. In this new role, Zortman will lead AIG’s global high net worth portfolio, with responsibility for strategy, underwriting …

A.M. Best Upgrades Ratings of PURE Group

A.M. Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” from “a-” for both members of the PURE Group of Insurance Companies (PURE). The members, both domiciled …

Getting Personal in Today’s High Net Worth Market: PURE Group

The personal lines market gets very personal in the high net worth segment, according to one of the market leaders. PURE Group of Insurance Companies’ Chief Claims Officer Michael Taylor says that to excel in this market, agents, brokers and …

UK MGA Plum Launches High Net Worth Home Cyber Cover

Plum Underwriting, the London-based specialist home insurance managing general agent, announced the launch of cyber and data risks cover embedded within high net worth (HNW) and mid net worth (MNW) home insurance products in the UK. Plum’s Home Cyber covers …

High-Net-Worth Individuals Concerned About Underinsurance: Chubb

More than half (54 percent) of high-net-worth individuals (HNWIs) are concerned that they are underinsured, with many worried their coverage is inadequate for their needs, according to new research published by Chubb. Despite this concern, out of 500 HNWIs surveyed …

Chubb Launches Services in Canada for High Net Worth, Family Office Clients

Chubb Insurance Co. of Canada has launched an array of complimentary services for its high net worth and family office customers. Signature Suiteā„¢ is designed to help protect and enhance affluent lifestyles by providing access to security services, travel safety …

H.W. Kaufman, Burns & Wilcox Canada Buy XN Canada Private Client Services

H.W. Kaufman Financial Group and Burns & Wilcox Canada announced they have acquired the high-value homeowner’s insurance practice from Quebec-based XN Financial Services Inc. (XN). A managing general agent and provider of insurance products, XN is a subsidiary of The …

Ironshore Expands High Net Worth Homeowners Coverage Into New York

Ironshore Private Client Group has expanded its Private Insurance Portfolio product to high net worth homeowners throughout the state of New York, effective Jan. 23, 2017. Ironshore Private Insurance Portfolio, a customized policy providing property and liability coverage for homes …