Archive for February 2017

Health insurers Aetna Inc. and Humana Inc. walked away from their $34 billion merger deal on Tuesday, after a U.S. judge ruled in January the combination would stifle competition in the private Medicare Advantage program for retirees. After the Jan. … Read More Read more here:: Insurance Journal       

Bermuda-based AXIS Capital Holdings Ltd. announced that John “Jay” Nichols has resigned from his position as chief executive officer of AXIS Re. Nichols has agreed to remain with the company in a transitional role until March 31. AXIS has named … Read More Read more here:: Insurance Journal       

XL Catlin has opened a shared services office, covering three floors at DLF World Tech Park in Gurgaon, India. The new office will provide “vital underwriting support, claims administration, actuarial services, finance and accounting for XL Catlin’s teams across the world,” the … Read More Read more here:: Insurance Journal       

By Andrew G. Simpson A federal judge last week urged NFL retirees to register for a concussion settlement that could cost the league $1 billion over 65 years. About 22,000 retirees are encouraged to get baseline neurological testing. The league expects more than 6,000 … Read More Read more here:: Insurance Journal       

By L.S. Howard State-controlled insurance holding company BB Seguridade Participações SA on Monday forecast slower profit growth this year, reflecting the impact of Brazil’s harshest recession ever and a rapid decline in interest rates. BB Seguridade projected an increase of 1 percent to … Read More Read more here:: Insurance Journal       

By L.S. Howard Intesa Sanpaolo SpA is one of the few Italian banks that could accurately claim to be strong, profitable and shareholder-friendly. Generali’s Market Value: €23 billion It’s curious, therefore, that CEO Carlo Messina seems intent on jeopardizing that record with a … Read More Read more here:: Insurance Journal       

By djohnson Declining costs, the availability of cloud storage and the rise of telematics will likely increase predictive analytic adoption rates, according to Dan Donovan, assistant vice president of Claims Solutions at Verisk Insurance Solutions. Though predictive modeling has been used for … Read More Read more here:: Insurance Journal       

By Andrew G. Simpson Markel Corp. ended 2016 with a drop in net income and increase in the combined ratio, with Hurricane Matthew and the Canadian wildfires to blame for higher catastrophe losses. At the same time, the insurer experienced gains in premium and … Read More Read more here:: Insurance Journal       

By Don Jergler The California Earthquake Authority has named Todd Coombes chief of technology and information services. The CEA also named Kellie Schneider chief operations officer. The moves follow the retirement at the end of January of Bob Stewart, the chief operations officer. … Read More Read more here:: Insurance Journal