Susanne Sclafane
Executive Editor at Insurance Journal
Executive Editor at Carrier Management
Senior Editor, Wells Media
Articles
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3 weeks ago |
carriermanagement.com | Susanne Sclafane
While a feared downgrade by “multiple notches” didn’t happen, Standard & Poor’s Global Ratings announced a one-notch downgrade of State Farm General yesterday—on the same day that California’s regulator approved an interim emergency homeowners rate increase. S&P lowered its financial strength and issuer credit ratings on the California affiliate of State Farm Mutual Automobile Insurance Company to A+ from AA, leaving the ratings on CreditWatch with negative implications.
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3 weeks ago |
insurancejournal.com | Susanne Sclafane
“You can’t cut yourself to greatness.”Simon Wilson, chief executive officer of Markel Insurance, made the simple statement at a Markel Group brunch meeting for investors in Omaha, Nebraska on May 4 to convey the idea the hard work of reducing underperforming insurance business has been largely done in recent years. Markel Insurance is now intent on growing its “bread-and-butter” excess and surplus lines insurance business, written through wholesale brokers.
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3 weeks ago |
carriermanagement.com | Susanne Sclafane
“You can’t cut yourself to greatness.”Simon Wilson, chief executive officer of Markel Insurance, made the simple statement at a Markel Group Brunch meeting for investors in Omaha on May 4 to convey the idea the hard work of reducing underperforming insurance business has been largely done in recent years. Markel Insurance is now intent on growing its “bread-and-butter” excess and surplus lines insurance business, written through wholesale brokers.
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1 month ago |
carriermanagement.com | Susanne Sclafane
He’s not yet ready to declare “mission accomplished,” but Ajit Jain, Vice Chair of Berkshire Hathaway’s insurance operations, said the conglomerate’s personal auto insurer, GEICO, is no longer lagging behind competitors in several key areas. “[I]n the last seven quarters, GEICO has shown a combined ratio that has an eight in front of it. I never thought I’d live to see the day when anyone could have a combined ratio as low as it is right now.
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1 month ago |
insurancejournal.com | Susanne Sclafane
Some property/casualty insurers talk about experimenting with artificial intelligence to automate call center responses and back-office operations. But that’s not the road to turbocharging growth that AIG CEO Peter Zaffino envisions for his company. AIG is all-in on AI that is directly focused on its core activities—underwriting and claims, Zaffino and Claude Wade, executive vice president and chief digital officer, told analysts during a four-hour Investor Day event late last month.
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