Month: February 2022

February 10, 2022

Zurich Insurance expects continued revenue and profit growth in the next two years, its chief financial officer said on Thursday, after the Swiss insurer reported its biggest annual profit since the financial crisis. Insurers were gloomy about the outlook when […]

February 10, 2022

With the intent to “draw and retain talent,” American Family Insurance (AmFam) has announced it is raising its minimum hourly wage to $23 an hour. The wage increase will take effect in July, affecting over 2,000 employees at AmFam group […]

February 9, 2022

Bermuda-domiciled financial services holding company White Mountains has posted comprehensive income of $34 million for the fourth quarter of 2021, and a loss of $273 million for the full-year. Both figures were well below the $495 million and $716 million […]

February 9, 2022

XPT Specialty has acquired Insurance Brokers Incorporated, headquartered in Indianapolis, Indiana, in a move that continues a series of acquisitions for the company. IBI is a wholesale insurance broker and general agency that offers agents a broad range of personal, […]

February 8, 2022

A new auto insurer is turning the tables on car manufacturers that offer insurance with their roadside and emergency services by including these accident services with its auto insurance policy. Austin, Texas-based Sensa is calling itself the “first proactive insurance […]

February 8, 2022

The Florida property insurance market is showing more signs of trouble, with one of the state’s largest carriers deciding to stop writing new homeowner business in the state – while also asking for a rate increase on some policies. United […]

February 7, 2022

A trade group of insurance agents and agencies has filed a lawsuit against the Department of Labor (DOL), to challenge the federal agency’s interpretation of who is required to act as fiduciaries for customers. The lawsuit was filed by the […]

February 7, 2022

The average price paid by motorists for their motor insurance in 2021 fell to its lowest level in six years according to the ABI’s latest Motor Insurance Premium Tracker. However, there is evidence that sustained cost pressures are beginning to […]

February 4, 2022

New York City Mayor Eric Adams’s chief of staff has been issued a subpoena for documents related to a $4.5 million insurance fraud lawsuit filed by GEICO. In a complaint filed in federal court in Brooklyn, GEICO alleged that a […]

February 4, 2022

Analysts at Goldman Sachs believe that the London Market and re/insurance stocks are debating whether companies are pricing correctly for the increased cost of weather losses due to climate change, or whether companies are basing pricing on historical trends. According […]

February 3, 2022

The Texas Windstorm Insurance Association Board voted Feb. 2 to select Aon to perform catastrophe modeling analysis to satisfy the Board’s statutorily required determination of the Association’s 1-in-100-year probable maximum loss (PML) for the 2022 hurricane season and reinsurance purchase […]

February 3, 2022

The Allstate Corporation has reported a YoY increase in revenues of 20.7% in its latest results. The insurance giant reported that its consolidated revenues rose from $41,909m across the whole of 2020 to $50,588m in 2021. It was also reported […]

February 2, 2022

The last five years have undoubtedly shifted the landscape of attracting, developing, and keeping talent, leaving industry leaders questioning what the post-pandemic talent pool will look like. Robert Mescher, senior vice president of casualty at Admiral Insurance Group, sat down […]

February 2, 2022

Global insurance and reinsurance giant Chubb reported one of the best year’s in its history in 2021, delivering record full-year net income and particularly strong premium growth in its reinsurance business. The global reinsurance business was again one of the […]

February 1, 2022

Consumer Watchdog has issued a notice saying that the California Department of Insurance (CDI) has retracted its policy to delete agency email databases – days after the consumer advocate group warned the regulator that it would threaten legal action over […]

February 1, 2022

Arch Mortgage Insurance Company (Arch MI) has announced that it has obtained over $315 million of indemnity reinsurance on a pool representing approximately $6.3 billion of mortgages from Bellemeade Re 2022-1 Ltd., a special purpose reinsurer. The coverage was obtained […]