Reinsurance News
Travelers
President of Travelers calls for auto industry involvement on automation
17th July 2018
The Executive Vice President and President of Personal Insurance at American insurer Travelers, Michael Klein, has highlighted the important role the insurance industry must play in the development of policies surrounding autonomous vehicles. “With the increasing adoption of semi-autonomous vehicles and the potential for fully autonomous vehicles, several policy-related questions and ... Read the full article
Travelers appoints Bruce Gifford to Enterprise Chief Data and Analytics Officer
26th February 2018
Travelers has announced the appointment of Bruce Gifford to the newly created role of Enterprise Chief Data and Analytics Officer. In his new role, Gifford will be responsible for accelerating the transformation of data into insights through technologies, including artificial intelligence tools and techniques. He is set to report to Michael Klein, ... Read the full article
Travelers to realign reporting structure after retirement of President and COO
22nd December 2017
The Travelers Companies, Inc. has announced that it is realigning the reporting structure of its business leaders, in response to the retirement of President and Chief Operating Officer (COO), Brian MacLean. MacLean, who has been with the firm for three decades, is to retire on March 31st, 2018, a move that ... Read the full article
Travelers to establish Dublin subsidiary in wake of Brexit
19th December 2017
In response to the UK's vote to leave the European Union (EU), Travelers Europe, a subsidiary of the Travelers Companies, Inc., is to apply to the Central Bank of Ireland for authorisation to establish a new Dublin-based insurance subsidiary. Travelers is the latest to join a long and growing list of ... Read the full article
Travelers reveals up to $675 million California wildfire loss
9th November 2017
Travelers has released fourth quarter catastrophe loss estimates for the California wildfires, including estimated reinsurance recoveries, in the $525 million to $675 million range pre-tax. After tax, estimates are $340 million to $440 million. “The toll from one of the worst wildfire events in U.S. history is devastating,” said Alan Schnitzer, Chairman ... Read the full article
Cat losses push Travelers to underwriting loss in Q3
19th October 2017
Travelers has reported an underwriting loss of $246 million for the third-quarter of 2017, driven by a huge increase in catastrophe losses to $700 million, compared with just $89 million in the same period last year. The $700 million of Q3 catastrophe losses relates primarily to hurricanes Harvey, Irma, and Maria, ... Read the full article
Travelers elects Alan Schnitzer as new Board of Directors Chairman
2nd August 2017
Alan Schnitzer has been unanimously elected as the Travelers Companies Board of Directors' next Chairman, set to succeed John Dasburg, who is returning to a role as independent Lead Director. Dasburg, commented; “During this time of unprecedented change for the insurance industry, the Board believes that the company and its shareholders are ... Read the full article
Higher catastrophe losses dent Travelers’ Q2 performance
21st July 2017
High levels of both catastrophe and non-catastrophe weather losses saw insurer Travelers record lower net income in the second-quarter of 2017 when compared with the previous year, while the insurer's combined ratio weakened to 96.7%. The firm has reported pre-tax catastrophe losses, net of reinsurance, of $433 million for the second-quarter ... Read the full article
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