Casualty Actuarial Society

Cincinnati Financial Corporation Announces Executive Leadership Transition, Expands Board to 14, Appoints Two New Directors

Retrieved on: 
Friday, January 26, 2024
Boston Consulting Group, Cincinnati Financial, CSU, Associate, Casualty, CINF, Insurance, Casualty Actuarial Society, Spray, Intelligence, American Academy, Society of Actuaries, Annual general meeting, Marketing, Data science, Growth, Management

"Steve is the ideal candidate to lead the company forward," commented Steve Johnston, chairman and chief executive officer.

Key Points: 
  • "Steve is the ideal candidate to lead the company forward," commented Steve Johnston, chairman and chief executive officer.
  • Additionally, Mr. Wu was appointed to the audit committee and Mr. Spray to the executive committee of the board, effective immediately.
  • Spray, age 57, serves as president of Cincinnati Financial Corporation and its U.S.-based subsidiaries.
  • Johnston noted, "Our shareholders benefit from our highly engaged board of directors who bring their wide range of experiences and skills.

AM Best to Join IFRS 17-Related Panel at Actuarial Society of Hong Kong Appointed Actuary Symposium

Retrieved on: 
Tuesday, November 21, 2023
Data Analytics, Professional Services, Insurance, Finance, Casualty Actuarial Society, Casualty, News, ALL, Analytics, Life insurance, Hong Kong

AM Best Senior Director of Analytics Christine Lee will join a panel discussion on IFRS 17 and its impact on insurance companies at the Actuarial Society of Hong Kong’s Appointed Actuary Symposium on 30 November 2023 in Hong Kong.

Key Points: 
  • AM Best Senior Director of Analytics Christine Lee will join a panel discussion on IFRS 17 and its impact on insurance companies at the Actuarial Society of Hong Kong’s Appointed Actuary Symposium on 30 November 2023 in Hong Kong.
  • Topics will include how insurers are approaching the new accounting standard and how IFRS 17 impacts AM Best’s rating assessments on insurance companies.
  • She also is a Fellow of the Actuarial Society of Hong Kong and the Casualty Actuarial Society.
  • For more information about the Actuarial Society of Hong Kong, please visit www.actuaries.org.hk .

Sompo International Global Reinsurance Expands into Canada and Adds New A&H Product in North America

Retrieved on: 
Monday, September 11, 2023
Science, BS, University, Head, The Co-operators, Health, Are, Business, MBA, Associate, Casualty Actuarial Society, CPCU, JT Group Limited, SVP, Chartered Property Casualty Underwriter, Insurance, Mathematics, Casualty

PEMBROKE, Bermuda, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Sompo International, a leading global provider of commercial and consumer property and casualty (re)insurance, today announced the appointment of Apundeep Lamba as Head of Reinsurance, Canada.

Key Points: 
  • PEMBROKE, Bermuda, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Sompo International, a leading global provider of commercial and consumer property and casualty (re)insurance, today announced the appointment of Apundeep Lamba as Head of Reinsurance, Canada.
  • Mr. Lamba will be based in Toronto as part of the Canada Branch.
  • * Further, the Company is also pleased to share that Denise Sheehan has joined as SVP, Head of North America Accident & Health Reinsurance.
  • Margaret Hyland, President, North America Reinsurance, commented, “Our ability to attract and retain experienced top-tier talent is a competitive advantage for Sompo International’s Global Reinsurance team, particularly as we look to expand our product offerings and geographic footprint in pursuit of our strategic growth goals.

AM Best to Participate at 2023 Casualty Loss Reserve Seminar

Retrieved on: 
Monday, August 28, 2023
Banking, Professional Services, Insurance, Finance, AM Best, ALL, American Academy, Public policy, American Academy of Actuaries, EDT, Casualty Actuarial Society, Casualty, AM, News, Chirico

AM Best Director Steven Chirico will speak on a panel, titled, "Rating Agency & Investor Views of Insurer Financial Condition" on Tuesday, Sept. 12, at 10:00 a.m. (EDT) at the 2023 Casualty Loss Reserve Seminar, which will take place Sept. 11-13, 2023, in Orlando, FL.

Key Points: 
  • AM Best Director Steven Chirico will speak on a panel, titled, "Rating Agency & Investor Views of Insurer Financial Condition" on Tuesday, Sept. 12, at 10:00 a.m. (EDT) at the 2023 Casualty Loss Reserve Seminar, which will take place Sept. 11-13, 2023, in Orlando, FL.
  • The seminar is hosted by the Casualty Actuarial Society and the American Academy of Actuaries.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.
  • Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates.

Industry Visionaries and Change-Makers to Speak at Earnix Eˣcelerate Summit 2023

Retrieved on: 
Tuesday, July 18, 2023
Professional Services, Technology, Insurance, Software, Finance, Fintech, Banking, USAA, Software as a service, Analytics, VKB, County hall, Culture, Business, Information technology, Multimedia, Profitable growth, Hollard Group, Casualty Actuarial Society, CSOB, Casualty, Lloyds Banking Group, Risk management, CAS, CIO, Aviva Group Ireland, Environment, Guidewire Software, Online shopping

Earnix , the global provider of intelligent, composable, SaaS solutions for insurers and banks, today announced its speaker line-up for Earnix Eˣcelerate 2023.

Key Points: 
  • Earnix , the global provider of intelligent, composable, SaaS solutions for insurers and banks, today announced its speaker line-up for Earnix Eˣcelerate 2023.
  • Pundits from the financial services and insurance industries will share their expertise and advice with hundreds of business leaders at the global summit.
  • View the full release here: https://www.businesswire.com/news/home/20230718129292/en/
    Dame Inga Beale, iconic financial services leader, will deliver the keynote address at Earnix Eˣcelerate Summit 2023.
  • “We’re honoured to have some of the industry’s brightest minds share their advice and perspectives with Eˣcelerate Summit attendees,” said Robin Gilthorpe, CEO, Earnix.

AM Best to Join Panel Discussion at Casualty Actuarial Society Seminar on Reinsurance

Retrieved on: 
Wednesday, May 24, 2023
Consulting, Professional Services, Insurance, Finance, AM Best, S&P Global, Senior, ALL, EDT, Casualty Actuarial Society, Casualty, CAS, AM, Bermuda, News

AM Best Senior Director Carlos Wong-Fupuy will participate in a panel discussion at the Casualty Actuarial Society (CAS) Seminar on Reinsurance, which will be held at the Westin Philadelphia in Philadelphia, PA, from June 5-6, 2023.

Key Points: 
  • AM Best Senior Director Carlos Wong-Fupuy will participate in a panel discussion at the Casualty Actuarial Society (CAS) Seminar on Reinsurance, which will be held at the Westin Philadelphia in Philadelphia, PA, from June 5-6, 2023.
  • The panel will discuss and analyze the drivers of recent industry results and the future trends that will shape the property/casualty industry, including shrinking reinsurance capacity, hard-market pricing and heightened catastrophe activity.
  • CAS is the world’s only actuarial organization focused exclusively on property/casualty risks and serves over 9,500 members worldwide.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

Frankenmuth Insurance Names Zachary Martin Assistant Corporate Secretary

Retrieved on: 
Sunday, May 21, 2023
Risk, Society, University, TD, Central Executive Committee of the Pakistan Peoples Party, Insurance, Texas A&M University, Statistics, FCAS, CSPA, Tennessee Student Assistance Corporation, American Academy, Champaign–Urbana metropolitan area, Austin v. Michigan Chamber of Commerce, Liberty Mutual, Casualty Actuarial Society, American Academy of Actuaries, Zurich Insurance Group, MAAA, Society of Actuaries, Nonprofits Insurance Alliance, Casualty, Executive Committee, FSA, Martin, Retirement, Commerce, Life insurance, Science

FRANKENMUTH, Mich., May 21, 2023 /PRNewswire-PRWeb/ -- Frankenmuth Insurance has announced Vice President Zachary Martin has been appointed to serve as Assistant Corporate Secretary, effective April 25, 2023.

Key Points: 
  • Frankenmuth Insurance has announced Vice President Zachary Martin has been appointed to serve as Assistant Corporate Secretary, effective April 25, 2023.
  • FRANKENMUTH, Mich., May 21, 2023 /PRNewswire-PRWeb/ -- Frankenmuth Insurance has announced Vice President Zachary Martin has been appointed to serve as Assistant Corporate Secretary, effective April 25, 2023.
  • Martin joined Frankenmuth Insurance in 2018 as the Director of Actuarial, Risk, and Compliance Services and brought 13 years of prior actuarial and technical experience from working for Liberty Mutual, Zurich North America, and TD Insurance.
  • In addition to serving on the Executive Committees of Frankenmuth Mutual Holding Company, Frankenmuth Holdings, Inc., Frankenmuth Insurance Company, and all subsidiary companies, Martin is a member of the Retirement, Political Affairs, and Risk committees.

AXA XL continues U.S. Middle Market insurance team build out adding Matthew Duke as new head of pricing

Retrieved on: 
Tuesday, April 25, 2023
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NEW YORK, April 25, 2023 /PRNewswire/ -- AXA XL Insurance in the Americas continued the build out of its U.S. Mid-Market team with the addition of Matthew Duke as Head of Pricing, U.S. Middle Market Analytics.

Key Points: 
  • NEW YORK, April 25, 2023 /PRNewswire/ -- AXA XL Insurance in the Americas continued the build out of its U.S. Mid-Market team with the addition of Matthew Duke as Head of Pricing, U.S. Middle Market Analytics.
  • In his new role with us, Matt is tasked with developing our US Middle Market pricing strategy and infrastructure."
  • Mr. Duke joins AXA XL from Xceedance, where he served as Senior Vice President and Chief Actuary, Head of Global Actuarial Services.
  • Prior to his most recent position, he served as Head of Pricing and Growth Analytics and interim Head of Risk for Blackboard Insurance.

Social Inflation Contributed to $30B Increase in Commercial Auto Costs, Paper Finds

Retrieved on: 
Monday, March 6, 2023
Professional Services, Insurance, Finance, Insurance Information Institute, CAS, Movement, Casualty Actuarial Society, LDF, FCAS, Local development framework, Partnership, ACAS, Casualty, Policy, Calendar, CSPA, Cryptocurrency, Life insurance

The Triple-I/CAS paper, Social Inflation and Loss Development – An Update , revisited previous work that examined changes in loss development from one calendar year to the next.

Key Points: 
  • The Triple-I/CAS paper, Social Inflation and Loss Development – An Update , revisited previous work that examined changes in loss development from one calendar year to the next.
  • These changes point to an upward movement in the cost of commercial auto liability insurance.
  • The authors consider how phenomena besides general inflation could be meaningful underlying contributors to the upward movement in this cost.
  • Separately, Triple-I has found that legal system abuse and third-party litigation funding are two significant causes of increases in claim costs above general inflation (i.e., social inflation).

Marijuana decriminalization is not associated with a notable increase in traffic accidents, says new actuarial report

Retrieved on: 
Thursday, December 8, 2022
Data science, Fatality, Impact, Research, Casualty Actuarial Society, Accident, Casualty, Machine learning, CIA, Weather, Insurance, CAS, Canadian Institute of Actuaries, Drug

The study did not detect any statistically significant impacts of decriminalization on the car accident fatality rate, insurance claim frequency or average cost per claim, particularly over the long term.

Key Points: 
  • The study did not detect any statistically significant impacts of decriminalization on the car accident fatality rate, insurance claim frequency or average cost per claim, particularly over the long term.
  • Temporal patterns of human activity (such as yearly, weekly and daily cycles) and inclement weather are much better predictors of the vehicle accident experience than marijuana decriminalization.
  • The study overcomes the limitations and disadvantages of earlier research on the effects of marijuana decriminalization by incorporating novel data-driven methodologies.
  • The models used high-resolution weather data to account for the effects of weather factors,” says the report author, Dr. Vyacheslav Lyubchich.