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Property and Casualty Insurance

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  • Ebola: New insurance deal with an outbreak Friday, 17 Oct 2014 | 5:37 PM ET
    A custodial worker wears a mask and eye protection to guard against the Ebola virus as he prepares to clean Ruth Cherry Intermediate School in Dallas.

    A Lloyd's of London unit is underwriting two forms of insurance to cover businesses that shut down as a result of Ebola and other diseases.

  • UPDATE 2-Allianz CEO Diekmann to step aside in May Thursday, 2 Oct 2014 | 11:02 AM ET

    FRANKFURT, Oct 2- Allianz will replace its chief executive earlier than expected, promoting insider Oliver Baete from May as the insurer seeks to restore order at Pimco, its U.S. funds business beset by investor and executive defections. Baete, 49, had been seen as front runner for the job, and is currently serving as Allianz's board member for insurance...

  • Allianz leadership challenged as Pimco's Gross exits Friday, 26 Sep 2014 | 3:42 PM ET

    *Allianz shareholders call for stable leadership. *Contract of Allianz CEO, others up for renewal. FRANKFURT, Sept 26- German insurer Allianz suffered a humiliating blow on Friday with the resignation of renowned investor Bill Gross as leader of Pimco, the asset manager Allianz relies on for one fourth of its operating profit.

  • Insurers turn to big data to help identify risks Wednesday, 17 Sep 2014 | 10:48 AM ET

    MONACO, Sept 17- Insurance companies are increasingly turning to "big data" from satellites, social media and even cigarette sales at gas stations to help identify risks and build up customer profiles. Hamilton Re, a new Bermuda- based reinsurer, hopes that heavy data-crunching technology will give it an advantage over rivals and boost its bottom line.

  • Expect the unexpected: More 9.0 megaquakes coming Tuesday, 16 Sep 2014 | 1:15 PM ET
    A catamaran sightseeing boat, sits atop a two-story Japanese inn on April 3, 2011 in Iwate Prefecture, Japan.

    Researchers say that most of the Pacific's earthquake zones are capable of generating shocks at least as strong as magnitude 9, NBC News reports.

  • NAPA, Calif. Aug 28- During Sunday's 6.0 magnitude earthquake, some $75,000 worth of bottles of wine, rum and whiskey flew off the shelves of Aiyaz Masani's liquor store in Napa, California.

  • Aug 4- Insurer American International Group Inc reported a better-than-expected 12.5 percent rise in quarterly profit, helped by strong performance across its major businesses and the sale of its former aircraft leasing unit.

  • Aug 4- American International Group Inc reported a better-than-expected 12.5 percent rise in quarterly profit, helped by strong performance across all its key businesses, and the insurer said it would expand its buyback program by $2 billion.

  • *Q2 oper earnings $1.93/ shr vs. est $2.07. July 22- Property and casualty insurer Travelers Cos Inc reported a steeper-than-expected fall in quarterly operating profit, hurt by bigger catastrophe losses and a slowing pace of premium rate increases.

  • *Q2 oper earnings $1.93/ shr vs. est $2.07/ shr. July 22- Property and casualty insurer Travelers Cos Inc's quarterly earnings fell short of analysts' estimates as hail and wind storms in the United States increased catastrophe losses.

  • Travelers' profit drops as catastrophe losses rise Tuesday, 22 Jul 2014 | 7:14 AM ET

    July 22- Property and casualty insurer Travelers Cos Inc reported a 26 percent drop in quarterly net profit as catastrophe losses rose. The company, a Dow Jones Industrial Average component, said net income fell to $683 million, or $1.95 per share, in the second quarter ended June 30, from $925 million, or $2.41 per share, a year earlier.

  • July 18- Shares of Trupanion Inc rose as much as 15 percent in their market debut, valuing the pet insurer at $304 million, as investors bet on growing demand among pet owners to insure their cats and dogs.

  • WASHINGTON, July 17- The U.S. Senate voted overwhelmingly on Thursday to reauthorize a federal terrorism risk insurance program that was created after the Sept. 11, 2001, attacks.

  • U.S. SENATE VOTES TO RENEW FEDERAL TERRORISM RISK INSURANCE PROGRAM FOR 7 YEARS; HOUSE OF REPRESENTATIVES LIKELY TO TAKE UP EXTENSION NEXT WEEK.

  • NEW YORK, July 6- When Goldman Sachs' then-senior partner, Gus Levy, suffered a stroke in the middle of a client meeting in 1976 and died shortly after, the bank's management didn't know who would lead the firm.

  • OECD recommends Canada tighten mortgage insurance further Wednesday, 11 Jun 2014 | 3:05 PM ET

    OTTAWA, June 11- The Organization for Economic Co-operation and Development endorsed the Bank of Canada's accommodative monetary policy on Wednesday but recommended that Canadian authorities tighten mortgage insurance further to promote financial stability. The Bank of Canada has kept its policy rate at 1 percent since September 2010.

  • UPDATE 2-Insurer AIG names Peter Hancock as CEO Tuesday, 10 Jun 2014 | 6:42 PM ET

    June 10- American International Group Inc said Peter Hancock would succeed Robert Benmosche as chief executive and president, effective Sept. 1. Before joining AIG, he was vice chairman of KeyCorp and a former chief financial officer at JPMorgan Chase& Co.

  • June 10- American International Group Inc said it named Peter Hancock as its new chief executive, effective Sept. 1. "As AIG enters a time of great change and opportunity, we are confident that Peter Hancock is uniquely qualified to lead the company and its employees to future success," AIG chairman Robert Miller said.

  • June 10- American International Group Inc said it named Peter Hancock as its new chief executive, effective Sept. 1. Hancock, the head of the insurer's global property-casualty business, succeeds Robert Benmosche, who will retire in September. Benmosche will take up an advisory role at AIG, the company said in a statement.

  • Extreme weather may put US disaster prep to the test Saturday, 24 May 2014 | 6:00 AM ET

    With hurricane season just around the corner, extreme weather outbreaks may put disaster preparedness and recovery plans to the test.