In a time of financial turmoil, the insurance industry faces an unprecedented opportunity to begin selling on value and not on price, Joe Plumeri, Chairman and CEO of Willis Group Holdings the global insurance broker, told delegates at Insurance Day’s Summit Bermuda here. Delivering the keynote address at today’s event, Plumeri said that the [...]
Despite a slump in the U.S. housing market, MetLife Inc. is seeking to expand its bank by delving into the residential mortgage origination business with help from its well-known brand. But the endeavor may be rife with risks as making loans isn’t core to the business of the biggest U.S. life insurer, an expert said [...]
Despite a slump in the U.S. housing market, MetLife Inc. is seeking to expand its bank by delving into the residential mortgage origination business with help from its well-known brand. But the endeavor may be rife with risks as making loans isn’t core to the business of the biggest U.S. life insurer, an expert said [...]
In light of current economic conditions, a major catastrophe such as an earthquake in California would bring new misery to both US and international financiers, according to an analysis released today by Impact Forecasting LLC, a division of Aon Benfield, the world’s premier reinsurance intermediary and capital advisor.
The Annual Global Climate and Catastrophe Report: 2008 [...]
Size matters, according to a new report on the insurance brokerage market by Advisen Ltd. As a result, the frenetic pace of consolidation in the brokerage sector will be only temporarily slowed by the global economic recession.
“Large brokers enjoy certain advantages of scope and scale,” said John Molka III, the author of the report. “At [...]
Despite the downturn in the economy, the multibillion dollar global insurance brokerage business held steady, for the most part, in terms of brokerage revenues in 2008. Best’s Review’s annual Top Global Insurance Broker ranking reports Aon Corp. as the No. 1 global broker with $6.2 billion in brokerage revenues. No. 2 is Marsh Inc. with [...]
Zurich, a leading property and casualty insurance provider in North America and globally,announced Mario Vitale, CEO of Zurich Financial Services’ Global Corporate business division has been selected Honoree of the Year by The Chinese American Insurance Association (CAIA). Vitale will also accept the 2009 Title Sponsorship Award on Zurich’s behalf at the 18th Annual Chinese [...]
Copart, Inc announced the opening of a new facility in Greer, South Carolina. This latest addition to Copart’s growing footprint marks the company’s second facility in South Carolina and the 147th facility world-wide.
Copart CEO and founder Willis J. Johnson said the 22-acre greenfield site will serve the northwest corner of the state, decreasing cycle times [...]
Lockton, the world’s largest independent insurance broker, has named Michael D. Paulsen as Vice President in the firm’s Chicago office.
Paulsen, 38, of Chicago, is responsible for new business development and client advocacy for property/casualty and employee benefits clients. He has extensive experience counseling a wide array of middle market firms in transportation, manufacturing, senior housing [...]
Copart, Inc. announced the opening of a new facility in Montgomery, Alabama. This latest addition to Copart’s growing footprint marks the company’s fourth facility in Alabama and the 146th facility world-wide.
Copart CEO and founder Willis J. Johnson said the 20-acre site will serve the southeast corner of the state, decreasing cycle times and reducing storage [...]
