Reinsurance

While global insurance premiums increased in 2016 across all insurance sectors, P&C profitability declined again, according to the latest Swiss Re Institute sigma study.

Peter Zaffino, former CEO of Marsh LLC, was named global chief operating officer of AIG, again working closely with CEO Brian Duperreault.

Total aggregated economic losses in the U.S. from severe weather in May was set to exceed $4 billion, while public and private insurers faced a combined payout approaching $3 billion, according to Aon Benfield's Global Catastrophe Recap report. (Those totals may change as further assessments are conducted.)

National Underwriter's Top 100 and Heads of the Lines lists the data for which is provided by S&P Global Market Intelligence offer a look at who's on top, who's taken a hit, and who's making progress in a crowded and highly competitive P&C market.

Auto losses, AIGs reinsurance deal with Berkshire Hathaway, and high competition in non-auto business lines are the stories to watch in 2017, according to S&P Global Market Intelligence.

Lloyds plans to introduce a new organization structure in the fourth quarter and the job cuts will be part of that change.