International/Bermuda

• Travelers Awards $175,000 Educational Grant to NAF

  By Staff Writer  |  May 23, 2013

  As part of a two-year grant to support NAF's educational mission to prepare students for college and careers, Travelers donates $175,000.

• Emerging Markets Stoking Insurance Growth: Munich Re

  By Jonathan Gould, Reuters  |  May 16, 2013

  Emerging markets will see the highest growth in premiums for insurance companies this year and next, while Europe lags, according to the world's biggest reinsurer, Munich Re.

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  $45M Global Bank Heist Could Complicate Cyber-Liability Market; Impact Other Coverages

  By Anya Khalamayzer, PropertyCasualty360.com  |  May 13, 2013

  Experts say liability for the theft could fall on the processors of the debit cards used to perpetrate the crime, and make it difficult for other financial institutions to get cyber insurance coverage.

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  RMS CEO: New Risk Management Platform to 'Crush Latency'

  By Chad Hemenway, PropertyCasualty360.com  |  May 9, 2013

  Risk Management Solutions has unveiled a new, open platform it says will enable insurers to manage models and exposures in minutes rather than months.

• Maciag Believes Insurers Should Capitalize on Changing Markets, Customers

  By Staff Writer  |  May 6, 2013

  Greg Maciag, president and CEO of ACORD and a long-time expert on technology in the insurance industry, believes the industry must quickly adjust to successfully capitalize on the expanding and changing demands of employees and customers.

• XL Q1 Net Income Soars; CEO IDs Factors Beyond Low Losses

  By Phil Gusman, PropertyCasualty360.com  |  May 3, 2013

  XL Group’s 2013 first-quarter net income nearly doubled compared to the same period a year ago as operating income soared thanks to lower levels of large losses.

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  Ex-NAIC CEO Vaughan Named to Board of Validus

  By Staff Writer  |  May 3, 2013

  Validus Holdings Ltd. named Therese M. Vaughan, the former CEO of the National Association of Insurance Commissioner, to its board earlier this week.

• Liberty Mutual Q1 Net Income Drops 31%

  By Mark E. Ruquet, PropertyCasualty360.com  |  May 3, 2013

  Liberty Mutual reports first-quarter net income fell 31 percent, impacted by the devaluation of Venezuela’s currency and premium declines primarily in workers’ compensation.

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  As Federal Crop Insurance Costs Rise, Report Questions Effectiveness

  By Arthur D. Postal, PropertyCasualty360.com  |  May 2, 2013

  A new report takes issue with the current structure of the federal crop insurance program, arguing that in many cases it allows growers to make more money from insurance payouts than they would from a healthy harvest.

• PartnerRe Net Income Tumbles 35%; Arch Group Up 56%

  By Mark E. Ruquet, PropertyCasualty360.com  |  April 30, 2013

  Two Bermuda reinsurers reported sharply different earnings as PartnerRe says first quarter net income fell 35 percent on investment declines while Arch Capital Group saw its net income grow 56 percent as its reinsurance business grew.

• Ace’s ESIS Expands Globally

  By Anya Khalamayzer  |  April 29, 2013

  Ace Group has opened twelve regional management hubs for ESIS; a risk-management product it launched in 2008 for multinational organizations in the America, Europe and Asia.

• Zurich Insurance finds Emerging Market Deals Too Pricey - Chairman

  By Katharina Bart - Reuters  |  April 29, 2013

  Zurich Insurance has backed away from deal talks in emerging markets as prices hot up, the insurer's chairman said in a newspaper interview.

• Bermuda Insurers See Improved Q1 Combined Ratios, Higher Net Income

  By Phil Gusman, PropertyCasualty360.com  |  April 26, 2013

  Three Bermuda insurers reported higher first-quarter earnings as combined ratios improved thanks in part to lower catastrophe losses.

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  News Corp, Shareholders Agree to Phone-Hacking Deal

  By Jennifer Saba and Tom Hals, Reuters  |  April 26, 2013

  The $139 million settlement, which will be paid by the liability insurance for the board members, is the largest cash settlement in such a derivative case, according to one of the plaintiff's attorneys.

• Allied World Q1 Income Down 27%

  By Mark E. Ruquet, PropertyCasualty360.com  |  April 25, 2013

  Allied World Assurance Co. Holdings’ CEO Scott Carmilani says the company is off to a strong start for 2013 despite first-quarter net income dropping 27 percent.

• Fitch: Limited Impact on Chinese Insurers from Sichuan Quake

  By Staff Writer  |  April 25, 2013

  Fitch Ratings does not expect the April 20 earthquake in China to have a significant impact on Chinese insurers' financial performance or solvency position.