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 [...]
Fitch Ratings released its annual analysis of the U.S. insurance brokerage industry. Fitch’s Rating Outlook for the insurance broker industry is Stable. A Stable Outlook implies that Fitch would not expect ratings to change in the near term for the brokers in Fitch’s ratings universe.
Through the first nine months of 2008, financial results indicate [...]
Sircon Corporation today announced that Glatfelter Insurance Group is the latest customer to use its Compliance Express(TM) and Producer Manager(TM) solutions to manage producer licensing, compliance, continuing education and on-boarding processes among its insurance-broker network.
“Glatfelter Insurance Group’s selection of Sircon’s technology exemplifies our commitment to making Glatfelter the marketing organization that’s easiest for producers to [...]
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 [...]
ICW Group Insurance Companies, which partners with 3,800 agents and brokers across the United States, is now offering workers’ compensation insurance in the state of Illinois.
The super-regional carrier’s industry-leading claims services and forward-thinking risk management has helped thousands of companies create a safe and productive work environment, while lowering the costs associated with workers’ compensation [...]
Hughes Insurance, the largest independent broker for car insurance in Northern Ireland, has recorded a number of incidents where motorists have had their insurance policy renewal declined by their existing provider. The incidents indicate that certain insurance providers are ‘redlining’ specific areas in Northern Ireland – including Newry.
‘Redlining’ is the practice of denying services, such [...]
Wm. Scott Page, president and CEO of The Lifeline Program, will host a workshop on “Successful Life Settlement Portfolio Aggregation” at the 6th Insurance Linked Securities Summit (www.ilsbermuda.com) being held July 15-17, 2009 at the Fairmont Southampton resort in Bermuda. Sponsored by the International Quality and Productivity Center (IQPC), the summit draws top professionals in [...]
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 [...]
XL Insurance, XL Capital Ltd’s global insurance operations, announced a new agreement with National Indemnity Company (”National Indemnity”), an insurance company subsidiary of Berkshire Hathaway Inc. Under this agreement, and its related reinsurance agreement, National Indemnity will issue endorsements to “Side A” Directors & Officers policies.
“Given today’s business climate, we believe that this enhanced ‘Side [...]
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 [...]
