Arch seeking growth in small to mid-sized Accounts and mortgage insurance Dinos Iordanou, Chairman, President and CEO of Arch Capital, discussed Arch’s growth opportunities during the recent IIS Global Insurance Forum in New York. He says Arch’s emphasis is on its primary insurance operations, “where we are getting adequate rates, especially on the small to mid-sized accounts. His goal is to from Arch’s SMB business in the US and internationally. He also … Read More
Hamilton CEO Duperreault on recruiting millennials, microinsurance, Solvency II, cyber risk and more WRIN.tv spoke with Hamilton Insurance Group CEO Brian Duperreault during the recent IIS Global Insurance Forum about a number of issues facing the industry, including: Recruiting “Digital Natives” from millennials can help insurance industry disrupt from within Blue Marble Microinsurance to develop insurance solutions for the developing world Solvency II instills discipline around capital adequacy and framework for risk modeling … Read More
Hamilton Insurance Group’s new office blends digital with insurance world At the recent Global Insurance Forum, WRIN.tv spoke with Brian Duperreault, CEO of Hamilton Insurance Group, about its new office in Bermuda and what makes it special. Commenting on Hamilton’s new office in Bermuda, Mr. Duperreault says he takes a different approach. We try to blend the wisdom we have with the digital world into this new office. For more … Read More
Blue Marble Microinsurance to develop insurance solutions for the developing world At the recent Global Insurance Forum, WRIN.tv spoke with Brian Duperreault, CEO of Hamilton Insurance Group, about how microinsurance can support growth in the developing world. Mr. Duperreault introduced Blue Marble Microinsurance, an idea he outlined a few years ago. He praised Joan Lamm-Tennant for making the concept a reality. Blue Marble will share resources and knowledge, and reach out … Read More
Hannover Re Chairman/CEO sees growth in ILS market, Asia Pacific region, and microinsurance WRIN.tv spoke with Hannover Re Chairman and CEO Ulrich Wallin at the S&P Insurance Conference about recent developments in insurance linked security (ILS) market, alternative capital, and Hannover Re strategy for continued growth. Hannover Re recently participated in two ILS transactions including the Massachusetts Property Insurance Underwriting Association (MPIUA) and Texas Windstorm Insurance Association (TWIA). Mr. Wallin says Hannover Re is … Read More
Cyber, Green Tech, Alt Capital and Asia…all present opps for reinsurance In this edition of WRIN.tv’s Reinsurance Today, host Frank Nutter, President of the Reinsurance Association of America (RAA), welcomes Mr. John Bender CEO of Allied World Re to discuss opportunities in the reinsurance market, including emerging risks such as cyber and “green technologies, alternative capital and Asia. “On the insured level, there are a number of opportunities for growth and … Read More
S&P warns Health Insurers to tread carefully as Medicaid rolls expand Joseph Marinucci, Senior Director at S&P Insurance Ratings, joins WRIN.tv to discuss the expansion of Medicaid under the Affordable Care Act (ACA), and the impact on the revenues of health insurers in the segment. According to Mr. Marinucci, a key provision of the ACA was to improve access to coverage by expanding Medicaid eligibility. To do that it, the ACA … Read More
A.M. Best cautious of impact from International Capital Standards. In highlights from the First Monday series, A.M. Best’s Senior Economist Meg Mulry looks at development of international capital standards (ICS) by the International Association of Insurance Supervisors (IAIS), and the timeframe for adoption. Ms. Mulry notes that the Financial Stability Board (FSB) and the IAIS have identified nine insurance companies that are deemed systemically important. She says the regulators … Read More
Ironshore President discusses geopolitical risk, connectivity, EU economy and Fosun bid David Frediani, President of Ironshore International, speaks with WRIN.tv during the recent European Insurance Forum in Dublin about the top risks facing the international insurance market, the impact of the EU economy on the industry and more. According to Mr. Frediani, the top three risks facing the insurance industry are geopolitical, connectivity and job creation. He says that “on a … Read More
IICF CEO on charitable giving in the insurance industry, its partnership with Sesame Street, “Women in Insurance” and UK expansion The insurance industry gives millions each year to charity. The Insurance Industry Charitable Foundation (IICF) unites the industry’s support for several worthwhile programs. Here, IICF CEO Bill Ross summarized the Foundations efforts, as well as its international expansion plans. The mission of the IICF, according to Mr. Ross, is to “help communities and enrich lives.” One example is the IICF’s … Read More
BP is now model for ERM with Board-level involvement/risk mitigation programs Scott Uhl, a SVP at EWI Specialty Casualty, speaks with WRIN.tv during the 2015 IRMI Energy Risk and Insurance Conference, about the challenges facing risk managers in managing operational risk, and the way Enterprise Risk Management (ERM) “should work.” Mr. Uhl says ERM in the post-BP (Deepwater Horizon) environment “still remains more aspirational…” While there has been movement towards ERM, … Read More
Sharp premium decline affects Citizens’ net underwriting income A sharp decline in net premiums earned in 2014 led Citizens to report its lowest level of net underwriting income since 2005. But Florida’s private insurance market appears to be benefiting from the state-run insurer’s retreat. Citizens’ board is meeting March 18 and will likely present 2014’s financial results. Read More
eHealth cuts staff as a result of low membership eHealth, the online health insurance broker, is cutting about 15% of its workforce. eHealth has seen lower than expected membership in its individual and family health business. Pretax restructuring charges could reach as much as $4.7 million Read More
Deloitte reports reinsurance M&As could hurt Lloyd’s In a recent report, Deloitte said the rush of reinsurance M&A activity could be a “double-edged sword” for the Lloyd’s market. Reinsurers seem eager to grab a bigger piece of the Lloyd’s pie, but Deloitte said consolidation could hurt the market in the long run. Recent deals include Fairfax Financial’s proposed acquisition of Brit…and XL’s deal to acquire Catlin. Read More
IICF/McKinsey say over $1Billion given to charity by P&C industry The Insurance Industry Charitable Foundation (IICF) worked with McKinsey to update its survey on philanthropic giving in the industry. WRIN.tv speaks with IICF CEO Bill Ross and Insurance Information Institute President Bob Hartwig about the increase in charitable giving among companies in the P&C industry, and the shift toward more money going to “health and social services.” According to Mr. … Read More
Fairfax to buy Brit to increase position in Lloyd’s market. Toronto-based Fairfax Financial is acquiring London’s Brit Plc for £1.12 billion. The deal is aimed at expanding Fairfax’s international footprint, making it a major player in the Lloyd’s market. Read More
Progressive posts first increase in agency auto business since March 2014 Progressive posted a modest month-over-month increase in agency auto policies in January. This marked the first month-over-month improvement since March 2014. The agency auto policy count had fallen 2.3% year-over-year in January Read More
Nationwide defends controversial Super Bowl ad A negative reaction to Nationwide’s second Super Bowl commercial was swift and decisive across traditional and social media. The ad featured a young boy talking about how he would never learn to ride a bike, how to fly, or even get married – because he died in an accident. Responding to the criticism, Nationwide said it hopes the ad will begin … Read More
Monday Morning Headlines: February 2, 2015 WRIN.tv’s Monday Morning Headlines, compiled by SNL Insurance, is a video digest of the news you need to know about the U.S. Insurance industry. Today’s Monday Morning Headlines: NAIC to give IT guidance re: Cybersecurity for insurers Fla Governor gets advice from lobbyist re: new insurance commissioner PartnerRe/AXIS Capital merger to create 5th largest P&C reinsurer ACE CEO Greenberg: consolidation … Read More