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Category: News


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Smart Choice Signs a Record Number of Independent Insurance Agencies

May 20, 2024

Via: Insurance Journal

Smart Choice® has signed a record number of independent insurance agencies in the first quarter of 2024 with 444 agencies partnering with the fastest growing insurance network in the nation. This number eclipses all historical first quarter results. In addition, […]


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What would a Trump-Rubio ticket mean for the insurance industry?

May 13, 2024

Via: Insurance Business

Among the names being bounced around as a potential running mate for former President Donald Trump’s re-election bid is Sen. Marco Rubio (R-Fla.). But what could a Trump-Rubio ticket mean for the insurance industry? As a Republican, Rubio has generally […]


News

Zurich expands presence to the Baltic market

March 21, 2024

Via: Reinsurance News

Zurich Nordic has announced that it will be offering its insurance and risk mitigation services in the Baltic region, in a move that the company hopes will make a difference for businesses operating in the middle-market segment of Estonia, Latvia, […]


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The Year in Insurance – A Look Back, A Look Ahead

March 18, 2024

Via: Insurance Journal

2023 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 […]


News

California Insurance Commissioner: Allow Cat Modeling in Rates for Wildfires

March 14, 2024

Via: Insurance Journal

California 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 […]


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Iowa School District to Pay $20K to Settle Gender Policy Lawsuit

February 23, 2024

Via: Insurance Journal

An Iowa school board has reached an agreement resolving a lawsuit over a now-rescinded district policy that allowed students to request a gender support plan to begin socially transitioning at school, without the permission of their parents.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’ […]


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Mitsui Sumitomo reportedly to increase underwriting capacity in London to £3bn

February 15, 2024

Via: Reinsurance News

Japanese 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 […]


News

Reinsurance Group of America earns spot on Fortune’s 2024 list

February 1, 2024

Via: Insurance Business

Reinsurance 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 […]


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Atlas Insurance PCC receives UK branch authorization and life reinsurance license

January 31, 2024

Via: Reinsurance News

Atlas 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 […]


News

Reinsurer Permitted to Intervene in Affiliate’s Lawsuit Related to Breach of MGA Agreement

January 22, 2024

Via: JD Supra

Texas 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 […]


News

Claims from Australian storms & tropical cyclone Jasper hit 28,000: Suncorp

January 17, 2024

Via: Reinsurance News

Australian 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 […]


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iSwiss Reinsurance gets licence to operate in UAE reinsurance market

January 10, 2024

Via: Reinsurance News

iSwiss 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 […]


News

Aon reveals crop insurance collaboration with African Development Bank

January 4, 2024

Via: Insurance Business

Aon 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 […]


News

1.1 reinsurance renewal points to strong 2024 earnings: KBW

January 4, 2024

Via: Reinsurance News

KBW 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 […]


News

Travelers Completes Acquisition of Corvus Insurance

January 3, 2024

Via: Insurance Journal

The 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 […]


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P&C giants lead wave of insurance layoffs in 2023

December 22, 2023

Via: Insurance Business

The 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 […]


News

Aspen Insurance files for US IPO to “increase financial flexibility”

December 21, 2023

Via: Reinsurance News

Specialty 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 […]


News

Louisiana is the least affordable state for home and auto insurance – report

December 14, 2023

Via: Insurance Business

Louisiana 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 […]


News

Lockton Re report delves into the impact of property construction dynamics on insured losses

December 14, 2023

Via: Insurance Business

In 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 […]


News

Insurance Europe reconfirms commitment to climate fight as COP28 deal lands

December 13, 2023

Via: Reinsurance News

With 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, […]