Saudi Re's recent announcement of a reinsurance contract with Walaa Cooperative Insurance Company marks a significant milestone in the Saudi insurance industry. This deal, centered around the Surety Insurance Bonds Coinsurance Program, is poised to provide financial guarantees ensuring that
On January 1, 2025, Aon, a prominent global insurance and reinsurance broking group, successfully completed the acquisition of Griffiths & Armour, a distinguished UK insurance broker. This strategic move aims to broaden Aon's regional footprint in the UK and Ireland, allowing both entities
On December 31, 2024, Taiping Reinsurance Co., Ltd. (Taiping Re) issued Asia's first dual-peril, dual-trigger catastrophe bond, worth $35 million, in Hong Kong. This was an important milestone in the financial world because it represents a new level of sophistication in catastrophe bonds.
The Trustees of the Airways Pension Scheme have successfully completed a £340 million longevity swap transaction with Metropolitan Tower Life Insurance Company, a subsidiary of MetLife. This significant financial maneuver, facilitated by Zurich UK, aims to mitigate the financial risks associated
In a concerning development, DAP Health and its subsidiary Borrego Health have reported a potential data privacy breach. The breach was initially detected earlier this year, raising significant concerns about the security of sensitive patient information. Delving into the details of this breach, it
The journey of one Registered Investment Advisor (RIA) firm towards significant growth began with a pivotal decision to outsource its investment management responsibilities. The firm's founder, burdened by the anxiety of managing investments for over 600 households, sought a solution that
The California Labor Commissioner’s Office (LCO) has recently issued a staggering $1.3 million in fines against 19 car washes in the South Bay area of Los Angeles County and Orange County for numerous labor violations that have affected 960 workers. The investigation into these car washes revealed i
In October and November of 2024, Washington Insurance Commissioner Mike Kreidler imposed fines amounting to $576,500 on various insurance entities, including PacificSource Health Plans, Delta Dental, and Lemonade Insurance Co., for breaching state insurance laws and regulations. This analysis
The insurance industry is witnessing a wave of strategic appointments aimed at bolstering leadership teams and driving growth in specialized sectors. Recent high-profile appointments at Generali Global Corporate & Commercial (GC&C) and the broker Miller highlight this trend. These moves are
The recent lawsuit and settlement involving Texas property management companies—Castle Hills Master Association Inc., Bright Realty LLC, Bright Industries LLC, and Bright Executive Services LLC—have brought to light significant issues regarding disability discrimination. The U.S. Equal Employment Op
