March 18, 2024
Via: Insurance Journal2023 was an unremarkable year for insurers. And that’s a good thing. Insurers and their shareholders prefer boring predictable results over unexpected volatile shocks. Property & casualty insurance company stocks performed relatively well. In 2023 the S&P Insurance Stock Index […]
March 14, 2024
Via: Insurance JournalCalifornia Insurance Commissioner Ricardo Lara said he will allow catastrophe modeling to be used in rate regulation for wildfires, a move he says will help restore insurance options for Californians, including allowing. It was the latest phase of Lara’s Sustainable […]
February 23, 2024
Via: Insurance JournalAn Iowa school board has reached an agreement resolving a lawsuit over a now-rescinded district policy that allowed students to request a gender support plan to begin socially transitioning at school, without the permission of their parents. Linn-Mar Community Schools’ […]
February 15, 2024
Via: Reinsurance NewsJapanese insurer Mitsui Sumitomo Insurance (MSI), owner of Lloyd’s of London underwriter MS Amlin, is investing in the UK hub as it announces its plans to increase its underwriting capacity to £3 billion in the next five years. According to […]
February 1, 2024
Via: Insurance BusinessReinsurance Group of America, Inc. has once again secured a spot on Fortune magazine’s esteemed 2024 list of the World’s Most Admired Companies. Expressing gratitude for this recognition, Tony Cheng, president and CEO of RGA, remarked, “It is both an […]
January 31, 2024
Via: Reinsurance NewsAtlas Insurance PCC, Malta-based insurer and Protected Cell Company (PCC) in the EU, has obtained authorisation for its UK branch license and extended its non-life insurance and reinsurance license to encompass life reinsurance. The insurer has been active in the […]
January 22, 2024
Via: JD SupraTexas Insurance Co. sued Talisman Specialty Underwriters Inc. for breaching the parties’ managing general agent (MGA) agreement by authorizing the issuance of hundreds of insurance policies by Texas Insurance in sectors (like marine and energy) where Talisman Specialty did not […]
January 17, 2024
Via: Reinsurance NewsAustralian primary insurer Suncorp is reportedly dealing with nearly 28,000 total insurance claims (including more than 20,000 claims for homes) across Queensland, New South Wales and Victoria from the recent storms and flooding that have impacted the east coast alongside […]
January 10, 2024
Via: Reinsurance NewsiSwiss Financial Group has announced that the United Arab Emirates has granted the group’s new company, iSwiss Reinsurance, a licence to operate in the country’s reinsurance market, from where it will also offer its services globally. The iSwiss Group explained […]
January 4, 2024
Via: Insurance BusinessAon has announced a new collaboration with the African Development Bank and Amini, focusing on enhancing crop insurance capacity across Africa and aiming to bolster the resilience of smallholder farmers and promote the adoption of nature-positive practices. Central to this […]
January 4, 2024
Via: Reinsurance NewsKBW Europe’s recent discussion on the January 1 reinsurance renewals, led by William Hawkins and Darius Satkauskas, reveals promising insights into the industry’s outlook for 2024. Hosted with industry experts David Flandro of Howden Re and James Vickers of Gallagher […]
January 3, 2024
Via: Insurance JournalThe Travelers Cos. completed its previously announced acquisition of Corvus Insurance Holdings Inc., a cyber insurance managing general underwriter. The $435 million acquisition was first announced in November 2023, which Travelers said would boost its middle-market excess and surplus lines […]
December 22, 2023
Via: Insurance BusinessThe US insurance industry witnessed a significant wave of layoffs in 2023, with property and casualty (P&C) carriers carrying out the bulk of these employment cuts. According to analysis by S&P Global Market Intelligence, the P&C sector saw a reduction […]
December 21, 2023
Via: Reinsurance NewsSpecialty re/insurer Aspen Insurance Holdings Limited has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed underwritten initial public offering (IPO) of its ordinary shares. This news follows a report […]
December 14, 2023
Via: Insurance BusinessLouisiana clinches the title of the least affordable state for both personal auto and homeowners insurance, the Insurance Research Council (IRC) revealed in a new report. According to IRC’s findings, Louisiana’s insurance affordability crisis is due to a combination of […]
December 14, 2023
Via: Insurance BusinessIn its new report titled “Exploring Property and Exposure Trends,” and as part of its “Storm Dynamics and the Reinsurance Industry” series, Lockton Re delves into the evolving dynamics of property exposure and their impact on the reinsurance industry, with […]
December 13, 2023
Via: Reinsurance NewsWith countries striking an agreement at COP28 to transition away from all fossil fuels to reach net zero emissions globally by 2050, Europe’s insurance industry has reconfirmed its commitment to fighting climate change and “overcoming climate protection gaps.” This morning, […]
December 11, 2023
Via: Reinsurance NewsMarsh, a global insurance broker and risk advisor, has partnered with specialist insurer Beazley to incentivise environmental, social, and governance (ESG) excellence in the construction sector. The collaboration offers construction contractors access to additional professional indemnity (PI) cover based on […]
December 6, 2023
Via: Reinsurance NewsIt should not come as a surprise that insurers are remaining somewhat cautious about adopting AI for customer-facing activities, especially given the lack of regulatory clarity. However, the opportunities to use AI technology to differentiate the value proposition and enrich […]
December 1, 2023
Via: Reinsurance NewsGlobal credit ratings agency AM Best has confirmed that it is maintaining a stable outlook on Vietnam’s non-life insurance segment. The agency cities premium growth and regulatory enhancements that strengthen risk management and corporate governance, as the key factors contributing […]