外国保险资讯

1、.：.；Premium growth aids Validus 63% rise in profits保费增长使Validus集团利润上涨63%Validus Holdings Ltd.s profits for the first half of 2021 grew 63%, due mainly to strong premium growth and a near-absence of major loss events, the company said. Validus reported first-half net income of $232.5 million, compare

2、d with $142.4 million in the same period last year. For the second quarter, its net income was $.6 million, up from $75.9 million a year earlier.Net premiums written for the first half totaled $900.1 million, a 10.4% increase. The company reported a combined ratio of 73.5%. Investment income for the

3、 first half totaled $53.7 million. Net realized investment losses for the first half were $26.1 million, compared with a $5.3 million gain a year earlier. In addition, Validus said it experienced an $11 million loss related to the Air France crash in the second quarter. “This has been an excellent q

4、uarter with very high earnings driven by growth in our noncatastrophe business globally, Validus Chairman and Chief Executive Officer Ed Noonan said in a conference call with investors Thursday. “We continue to see positive rate movements in the vast majority of the classes we underwrite, he said. T

5、he Hamilton, Bermuda-based insurer and reinsurer, which recently won a bitter battle to acquire fellow Bermuda-based reinsurer IPC Holdings Ltd., said it is “on pace to close the transaction in the third quarter. For the second quarter, the company reported $15.9 million of nonrecurring expenses rel

6、ated to the IPC amalgamation. The $1.65 billion cash-and-stock deal raised concerns with some analysts about the combined entitys large concentration of catastrophe-exposed business as the U.S. hurricane season is under way.Mr. Noonan said Validus has done a “significant amount of hedging in anticip

7、ation of combining the two portfolios. As we approach wind season, in total we have $250 million of protection in place, he said. As part of the deal, Validus has given up termination rights in the event of a catastrophe loss, meaning it cannot back out of the acquisition should a loss occur. IPC re

8、quested the provision. In an interview last week, Mr. Noonan said he was “not concerned about completing a takeover during the hurricane season “because both companies are very conservative underwriters. In addition, “IPC is extremely well-capitalized for the risks they take on, he said. Mr. Noonan

9、said Validus aims to reduce catastrophe exposures to roughly 25% of the combined Validus-IPC book of business. Currently on a pro-forma basis property catastrophe business accounts for roughly 40% of the combined entity. Validus集团2021年上半年利润增长63%，公司称这主要是由于保费大幅上涨和近期没有发生损失严重的事件Validus报告上半年的净收入是2.325亿美圆

10、，而去年同期这一数字仅为1.亿424万美圆第二季度的净收入为1.亿376万美圆，比去年同期多7590万美圆。转载自： HYPERLINK asiainsurancereview asiainsurancereviewRims targets global standards-setting role风险与保险管理协会努力于扮演全球规范制定者的角色THE Risk and Insurance Management Society (Rims) has set up a 10 man committee tasked with supporting global risk management a

11、nd developing improved standards and processes.Rims hopes its new Standards and Practices Committee will enable it to increase its profile in the standards and practices arena and make it the primary resource in shaping and developing global risk management standards. The committees primary role wil

12、l be to educate risk managers and organisations on various risk management standards. It will also work with the US Department of Homeland Security on voluntary preparedness and business continuity.Wayne Salen, a member of Rims board of directors and director of risk management at Labor Finders Inte

13、rnational, will serve as the first board liaison for the committee. The committee is chaired by Carol Fox, former chair of Rims Enterprise Risk Management development committee and senior director of risk management at Convergys Corp. She will be supported by Manus ODonnell, administrative vice pres

14、ident and director of corporate insurance and risk at M&T Bank. The other members of the Standards and Practices Committee all have strong risk management backgrounds. They are: Nathan Bacchus, Rims state and regulatory affairs associate; Susan Barry, director of risk management at DRS Technologies;

15、 Sandra Bodensteiner, claims manager at the City of St Paul, Minnesota; Kristen Drobnis, senior vice president of risk management at MassDevelopment; Lois Gardiner, director of risk management at Canadian Pacific Railway; Yvette Ho Sang, risk management analyst at the Institute of Electrical and Ele

16、ctronics Engineers; and Paul Piazza, risk manager at Honeywell International Inc.风险与保险管理协会已组成10人委员会，主要义务是支持全球风险管理并完善改良后的规范和过程转载自： HYPERLINK insuranceday insurancedayAIG finance arm cuts 900 jobs, sees sixth straight loss由于延续六个季度亏损，美国国际集团消费金融部裁员900人Posted On: Aug. 13, 2021 2:00 PM CSTNEW YORK (Reuter

17、s)American International Group Inc.s money-losing consumer finance unit on Thursday said it eliminated 900 jobs and closed 145 branches in the first half of the year, and may make further cutbacks as it prepares to be sold. In a regulatory filing, American General Finance Corp. said its quarterly lo

18、ss increased sevenfold to $227.2 million from $31.8 million a year earlier, as revenue declined 32%.American General has lost $467.8 million this year, after losing more than $1.3 billion in 2021. It has lost money for six straight quarters.The job and branch cuts represent about 11% of the year-end

19、 totals that the Evansville, Ind.-based company had reported. American General said it ended 2021 with 7,900 employees and 1,374 offices, a separate filing shows.We may implement further measures to preserve our liquidity and capital, including additional on-balance sheet securitizations, portfolio

20、sales, expense reductions, branch closures, and reductions in production, the company said. It said it expects to have enough liquidity for at least a year.An AIG spokeswoman said American General decided on the job cuts in May and attributed them to the economic downturn.AIG posted a second-quarter

21、 profit last week. The New York-based insurer is trying to sell assets to help repay the government, after accepting a series of federal bailouts totaling roughly $180 billion.美国国际集团周四发表声明：其消费金融部门由于亏损曾经在上半年裁员900人，封锁145家分支构造，且能够会在预备出卖过程中进一步缩减规模。转载自： HYPERLINK businessinsurance/ businessinsurance/USAA

22、 to Lower Homeowners Rates for Most Policyholders in Texas结合汽车效力协会拟降低德州大部分保险客户的家庭保险费率San Antonio, Texas-based USAA has announced it has filed a plan with the Texas Department of Insurance to reduce its homeowners insurance rates in the state by an average of 6 percent.The reduction will equate to an

23、 average $83 in annual savings for Texas policyholders, the company said. Not all areas of the state will see lower rates. Some coastal areas will likely see rate increases. However, USAA said it is increasing the availability of wind coverage it offers homeowners in certain coastal areas.USAA also

24、is planning to provide more comprehensive coverage, including water backup and increased limits for theft of jewelry, along with additional discounts and other features in its standard insurance policies for Texas homeowners. The changes will be effective Oct. 10 for new policies and Dec. 31 for ren

25、ewing policies, and will vary depending on discounts, geographic area and other factors. While rates for most USAA members will be lower, some will see rates increase, including in areas where the company needs to continue to match its rates with risks presented by projected hurricane losses.USAA pr

26、ovides insurance coverage for more than 280,000 homes across Texas. Source: USAA, HYPERLINK usaa usaa总部位于德州的结合汽车效力协会宣布与德州保险部门共同制定了一个方案：平均减少德州家庭保险费率的6%转载自： HYPERLINK insurancejournal/ insurancejournal/Seeking to Boost Agency Business, Progressive Offers Web Site Help为推进保险代理业务，美国前进保险公司提供网站建立协助 Progres

27、sive Insurance wants to ramp up its agency business and plans to turn to a source of strength for its direct sales channel - the Internet - to help make that happen.As Glenn M. Renwick, president and chief executive officer at Progressive, said in a conference call with investors on Aug. 12: Regardl

28、ess of how you choose to buy, we are all aware . that the vast majority of people start their insurance shopping experience on the Internet.That sentiment - and the fact that more than half of its independent agents dont have Web sites - has led the company to roll out an initiative to provide Progr

29、essive agents who dont have Web sites or are unhappy with their existing sites the opportunity to create or improve their online presence at a discounted price.Progressive said it found through a recent survey that while three-fourths (73 percent) of consumers look online for car insurance, about tw

30、o-thirds (67 percent) eventually buy from an agent. To help agents develop or improve their Web sites, Progressive is working with Web, which not only designs and creates sites for small- and medium-sized businesses, but also offers a do-it-yourself SiteBuilder product, according to the Progressive

31、announcement. The firm also provides search engine optimization (SEO) and search engine marketing (SEM) solutions, tools that make Web sites more visible in online search engines.In a letter to shareholders regarding the second quarter of 2021, Renwick said the companys combined ratio for the quarte

32、r held at 92.6 and that it experienced 4 percent year-over-year increase in personal lines policies in force. Progressives total number of personal lines policies is approaching 11 million, Renwick said.Overall, the company has seen modest growth in its agent-produced business, Renwick said in the l

33、etter to shareholders. He surmised that some of that growth extends from possible rate increases by competitors, something that Progressive has been able to keep a lid on. Renwick said in the conference call the company has been able to keep its rate changes at around 1 percent. Our competitiveness

34、appears to be increasing modestly as others are taking rate in the channel, Renwick stated in the shareholders letter. The rate-comparison nature of agent quoting makes price transparency very clear and changes in competitive positioning very rapid - it also increases the penalty for pricing inaccur

35、acies for the companies displayed. New business sales in agency were as strong as we have seen for some time as the quarter drew to a close.According to Renwick, the company is particularly concerned about the performance of its agency business in California. Weve not been happy with our production

36、there, Renwick said during the call with analysts, adding that it is one of the states in which its agency business is underperforming expectations, primarily on a volume basis.However, he noted that profitability levels in California are good and that the direct sales channel is thriving. Its one o

37、f a few states . where our direct production is actually greater than our agency production. . We are seeing continuous movement in California as far as their willingness to look at and accept things like mileage based rating . nothing overly dramatic yet, but those are things that could actually pl

38、ay to our favor.Renwick and Brian Domeck, Progressives chief financial officer, commented in the conference call that the company has been building initiatives to reinforce renewal rates and extend policy life expectancies. Progressives internal focus on retention has been an extraordinarily dramati

39、c change in focus, Renwick said. We have treated the renewal customer very differently by introducing things that might be more in the line of a loyalty program. The company has also strived to make it easier for customers to consult about their policies. The huge internal focus on what we can do fo

40、r the customer experience around renewal . theres no question that has actually produced results, Renwick said. A second area of focus for Progressive is stabilization of rates for renewals. We are trying where possible and where appropriate to file, so that we dont subject our renewal customers to

41、quite the same rate shock as we might have done a few years ago when we were trying to get the best of all of our new information into the market as quickly as possible, Renwick said.Progressive is also increasing its efforts to cross-sell, which Domeck said helps retention. We focus a lot on trying

42、 to be able to offer a homeowners offering to our consumers both on the agents channel, as well as the direct channel. And we have initiatives to cross-sell existing policy-holders with our specialized products or if they are a specialized policyholder with our auto products, he said.According to re

43、nwick, in the current economic environment, customers are clearly shopping for price. Adding that he feels strongly about Progressives brand position in the market place, Renwick said: Our value proposition has been and continues to be is that we are extremely open and transparent about competitive

44、pricing. Returning to the strength of its Internet presence, Renwick said: When youve got that kind of initial feed system, the likelihood of it flowing through to people who can actually sell on the Internet is going to be stronger. .What you dont see as clearly is the response of agents that they

45、truly have now access to sell a company that has a very positive brand to sell. I spent a lot of time in the second quarter with agents and theres a consistent theme of how good theyre feeling about the brand and the umbrella effect that brand has had on them.Progressives Web PackageThe Progressive

46、Web package for agents includes:A discount off Webs base pricing A professionally designed Web site with a unique domain An agent RSS news feed providing regularly refreshed content relevant to independent agency customers and prospects Progressives real-time agent quoting and servicing banner Sixty

47、 minutes per month of consultation with Web professionals for site changes or SEO modifications, and the ability to make do-it-yourself changes anytime A scorecard measuring real-time results including leads in the form of calls, s, and clicks Listings on all major search engines and directories 美国前

48、进保险公司方案采用因特网这一强有力的资源建立直接销售渠道，以扩展其保险代理业务转载自： HYPERLINK insurancejournal/ insurancejournal/Hennessy Named CEO for CNA EuropeHennessy先生被任命为美国CNA金融集团欧洲区首席执行官CNA Financial Corp. has named John Hennessy to the position of chief executive officer of CNAs European operations. The announcement comes soon aft

49、er the insurer announced a strategy to grow its international operations, starting with CNA Europe. Hennessy joined CNA in 1982 as an underwriting trainee and assumed increasing responsibilities. During his 27-year career with CNA, he has served in multiple home office and field leadership roles, in

50、cluding Milwaukee branch manager; Central region president; senior vice president for casualty underwriting and middle market; and, most recently, senior vice president of distribution management. CNA金融集团任命John Hennessy为掌管欧洲区业务运营的首席执行官转载自： HYPERLINK insurancejournal/ insurancejournal/ AIGs Chartis G

51、lobal Now Travel Guard; Rutledge Named CEO美国国际集团的Chartis Global易名为Travel Guard；Rutledge被任命为公司的首席执行官Chartis Inc.said that all of its worldwide travel businesses will begin operating under the brand name Travel Guard, effective immediately. Additionally, Jeffrey C. Rutledge has been named chairman and

52、 chief executive officer of Travel Guard Worldwide, Inc.Chartis is the new name for the global property/casualty and general insurance operations of American International Group (AIG). All Chartis travel sales and operations worldwide will be unified under the Travel Guard brand and will be position

53、ed as Travel Guard, a Chartis company. Travel Guard has operations in North America, Latin America, Europe, Asia-Pacific, Australasia, Africa and the Middle East. Rutledge will oversee Chartis worldwide travel businesses. In this capacity, he also will oversee the Travel Guard operations in the U.S.

54、 and Canada, which are led by Dean Sivley, who joined Travel Guard in May, as previously announced. Rutledge joined AIG, now Chartis, organization in 1999 and the companys global travel e-commerce operations. He later had executive responsibility for travel in the Asia-Pacific region and, more recen

55、tly, served as president of the global travel division.Chartis公司发表一份即时生效声明：公司全球游览业务将改为以Travel Guard品牌运营此外，Travel Guard Worldwide, Inc.已任命Jeffrey C. Rutledge为公司总裁和首席执行官转载自： HYPERLINK insurancejournal/ insurancejournal/AIG to Sell Hong Kong Consumer Finance, India IT Units美国国际集团拟出卖其香港消费金融子公司和印度IT效力子公司

56、By HYPERLINK insurancejournal/feedback/?f=8&a=102929&author=2006&code=author&url=/news/international/2021/08/12/102929.htm o Contact this author Samuel Shen and Sumeet ChatterjeeAmerican International Group, seeking to raise cash to repay around $180 billion in bail-out loans, has agreed to sell its

57、 Hong Kong consumer finance and India-based IT services units. China Construction Bank (CCB) Asia, the countrys second-biggest lender will buy 100 percent of AIG Finance (Hong Kong) Ltd for $70 million in cash in a deal that includes repayment of intra-group indebtedness and deposits of about $557 m

58、illion, the two companies said on Wednesday.AIG, once the worlds largest insurer, is winding down some units and selling others to cut risky investments to stabilize the company and raise cash after being rescued by the U.S. government during the height of the credit crisis last year.The U.S. firm s

59、aid on Tuesday AIG Financial Products had HYPERLINK insurancejournal/news/national/2021/08/12/102945.htm completed the sale of its energy and infrastructure investment assets, for net proceeds of about $1.9 billion.AIG has stepped up plans to list its Asian insurance unit, American International Ass

60、urance Co. Ltd (AIA), in Hong Kong after failing to find a buyer for a large stake in it earlier this year.The company has also been seeking buyers for its Taiwan unit Nan Shan Life.Buying AIG Finance would help CCB to expand in Hong Kong by significantly increasing the customer base as well as mark