Chubb
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The proposal says oil companies cause climate change and, thus, increased cat losses. -
Carriers underweight in E&S could lead the charge in the next round of M&A.
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The insurer plans to automate around 85% of key functions surrounding underwriting and claims processes.
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The move from Chubb comes at a moment of perceived weakness for AIG.
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Approached for comment, Chubb denies that it submitted “an offer” for AIG.
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A jury awarded $32.3mn for repair costs, and $80mn for business interruption.
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The move comes after Everest sold renewal rights for its global retail business to AIG.
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The Marsh-placed account renews its all-risks cover on 16 November.
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This publication exclusively reported the executive’s plans last month.
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Some disagreement remains in where rate declines have been swiftest and how much further they could go.
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Normalized growth and peak multiples confirm we are headed towards a Darwinian race.
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Total pre-tax favorable prior period development in the quarter was $361mn, up nearly 48% YoY.
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Pre-tax cat losses were down 63% from the prior year quarter to $285mn.
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Activists from the left and the right are focusing on insurance, often on the same issues.
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The federal panel hasn’t finalized a timeline for formulating the new rules.
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Brian Church has spent 20 years at Chubb.
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Lupica moved to the role last year as part of a staggered handover of responsibilities to Juan Luis Ortega.
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The executive said record operating income and returns don’t indicate Chubb is “beleaguered”.
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He will drive the growth of Chubb's claims-made excess casualty facility.
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He joins the company after 22 years in casualty leadership roles at Chubb.
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The Delaware high court’s reasoning could find application in other cases.
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The state’s Supreme Court upheld two lower court decisions finding no liability.
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Teresa Black will succeed him as division president of North American surety.
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Insurers did not see a slowdown in rate but some are still fine-tuning their portfolios following the LA fires.
