Commercial Lines

For the CEO of Crum & Forster, Doug Libby, who voluntarily describes himself as "a contrarian," there is little not to like about the $294 million deal, closed in February, that adds First Mercury Financial Corp. to his group's specialty-insurance operations.

An overriding theme of the latest wave of mergers and acquisitions in the insurance industry: strategic buys of specialty-flavored books is specialization.

Multinational corporations are still enjoying the benefits of a competitive marketplace, but underwriters are taking a closer look at certain risks impacted by recent catastrophes For example, the earthquake/tsunami in Japan and floods in Australia are having an impact on certain programs, primarily catastrophe property and business interruption.

If you own an underwriting agency with a very specialized, quality book of business—and have no plans to sell it—then Stephen Way, CEO of Houston International Insurance Group, may want to talk about making a deal.

Despite reporting catastrophe losses that doubled over last year, Progressive says its May net income increased 68 percent over the same period last year.

Outgoing Liberty Mutual Group chief executive Edmund "Ted" Kelly says his continued role as chairman will not include stepping on David H. Long's toes.