Insurance attorney Charles Landgraf joins Arnold & Porter in Washington

By: Mark A. Hofmann

Published May 16, 2012 - 2:00pm CST

WASHINGTON—Prominent insurance attorney Charles Landgraf has left Dewey & LeBoeuf L.L.P. to join Arnold & Porter L.L.P. as a partner in the law firm's Washington office, Arnold & Porter announced Wednesday.

AIG to sell AIA shares after lock-up ends in Sept.

Published May 16, 2012 - 12:56pm CST

(Reuters)—Bailed-out insurer American International Group Inc. will sell its shares in Asian insurer AIA Group Ltd. after a lock-up period expires in early September, CEO Bob Benmosche said on Wednesday.

Midwest sees heavier, more frequent extreme storms: Study

By: Rodd Zolkos

Published May 16, 2012 - 12:46pm CST

A new study suggests that the number of extreme rain storms—those producing three inches or more of rain per day—have more than doubled in the Midwest over the past half century, often resulting in worsened flooding.

Catastrophe bond issues break record in first quarter: Study

By: Rodd Zolkos

Published May 15, 2012 - 3:24pm CST

The first quarter of 2012 was the most active quarter on record in the catastrophe bond market, according to data compiled by New York-based GC Securities, a division of MMC Securities Corp. and an affiliate of reinsurance brokerage Guy Carpenter & Co. L.L.C.

Specialty insurer Torus names Tim Harris as group CFO

By: Mark A. Hofmann

Published May 15, 2012 - 1:21pm CST

LONDON—Torus Insurance Holdings Ltd. has named Tim Harris as group chief financial officer, the specialty insurer announced Tuesday.

China eases investment restrictions for insurers

Published May 15, 2012 - 11:15am CST

SHANGHAI (Reuters)—China's insurance regulator will allow insurers to invest in a wider range of corporate bonds and relax limits on equity and real estate investment, granting them greater freedom to seek higher returns and play a stronger role in the financial system.

Former AIG CEO Greenberg eyes reversing N.Y. fraud case

Published May 15, 2012 - 9:45am CST

NEW YORK (Reuters)—Former American International Group Inc. Chief Executive Maurice R. Greenberg said New York's attorney general should be barred from invoking a 91-year-old state law in a fraud case over two suspect reinsurance transactions.

Allianz wary of euro zone shocks after strong quarter

Published May 15, 2012 - 9:46am CST

FRANKFURT (Reuters)—Allianz S.E. warned on Tuesday that fallout from the euro zone crisis could cause it to stumble even though Europe's biggest insurer reported a 40% jump in first quarter earnings.

Business Insurance In FOCUS video: Online insurance portals and platforms

Published May 15, 2012 - 6:00am CST

In our latest weekly video, we examine how online insurance platforms are enhancing information collection and offering insights into the insurers available for placements and the prices and limits available.

Insurer Tryg’s first quarter profit up on mild winter, cost control

Published May 14, 2012 - 1:00pm CST

COPENHAGEN (Reuters)—The Nordic region's second-biggest insurer Tryg on Monday reported a bigger-than-expected rise in first quarter pretax profit on the back of cost control and a mild winter resulting in a low level of weather related claims.

Tornado disaster safety

Published May 14, 2012 - 10:29am CST

This year's unusually early and violent tornado season has served yet again as a reminder of the threat posed by these storms. Here's some data and advice from the Insurance Institute for Business & Home Safety on how to deal with tornadoes.

051412 Snapshot

Published May 13, 2012 - 6:00am CST

Aspen Insurance chief Mario Vitale discusses 2012 market

Published May 13, 2012 - 6:00am CST

Mario Vitale is co-CEO of Aspen Insurance in New York. During the Risk & Insurance Management Society Inc.'s recent annual conference in Philadelphia, he spoke with Business Insurance Senior Editor Mark A. Hofmann about the current and future challenges facing the insurance industry.

Lloyd's of London announces long-term strategy

By: Mark A. Hofmann

Published May 13, 2012 - 6:00am CST

LONDON—Lloyd's of London is looking toward new markets for growth and financing as part of its long-term strategy, Vision 2025, unveiled last week. PLUS: Watch our exclusive video interview with Lloyd's America President Hank Watkins.

UP CLOSE: Eric Silverstein

Published May 13, 2012 - 6:00am CST

NEW JOB TITLE: Atlanta-based senior vp national accounts, team leader, Lockton Cos. L.L.C.

Former AIG chief Maurice Greenberg plans to appeal ruling

By: Mark A. Hofmann

Published May 13, 2012 - 6:00am CST

NEW YORK—Former American International Group Inc. Chairman and CEO Maurice R. Greenberg plans to appeal a ruling allowing a New York state lawsuit against him and another former AIG executive to go to trial in an alleged sham reinsurance deal.

Panel hears asbestos trust transparency needs

By: Mark A. Hofmann

Published May 13, 2012 - 6:00am CST

WASHINGTON—The congressionally created system of asbestos trust funds needs greater transparency to prevent potential fraud, a series of witnesses told a House panel last week.

Electronic placement of insurance needs common data standards

By: Bill Kenealy

Published May 13, 2012 - 6:00am CST

The interaction between buyer, intermediary and insurer necessary to place insurance electronically is impossible without common data standards.

Insurance exchange gives retail agents more market access

By: Bill Kenealy

Published May 13, 2012 - 6:00am CST

While brokers and agents have long invested in agency management systems to capture and format insurance application data, and insurers have devised portals with product and service information, integrating that information has been the goal of the insurance exchange movement.

Crump Insurance uses cloud technology on insurance portal

By: Bill Kenealy

Published May 13, 2012 - 6:00am CST

Roseland, N.J.-based Crump Insurance Services Inc. turned to cloud-based technology when it launched its portal for excess and surplus lines insurance last year.

Insurance distribution electronically 'an untapped reservoir'

By: Bill Kenealy

Published May 13, 2012 - 6:00am CST

New technology has altered many insurance industry processes in the past several years, including placing insurance electronically.

Swiss Re names head of Latin America reinsurance unit

By: Anna Gaynor

Published May 11, 2012 - 4:08pm CST

MEXICO CITY—Swiss Re has announced the appointment of Alejandro Padilla as head of reinsurance Latin America North and president of Swiss Brokers Mexico Intermediario de Reaseguro S.A. de C.V., effective June 1.

Catlin premiums rise 12% in first quarter of 2012

By: Bill Kenealy

Published May 11, 2012 - 12:48pm CST

HAMILTON, Bermuda—Catlin Group Ltd. on Friday reported a 12% rise in gross premiums written for the first quarter of 2012.

Lloyd's of London unveils long-term strategic initiative

By: Mark A. Hofmann

Published May 11, 2012 - 11:09am CST

Lloyd's of London is looking toward greater growth in new markets as part of a long-term strategy unveiled Friday. PLUS: Watch our exclusive video interview with Lloyd's America President Hank Watkins.