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Global Indemnity Group announced that its subsidiary Penn-America Underwriters has completed the acquisition of Sayata, an AI-enabled digital distribution marketplace and agency operations platform for commercial insurance. Global Indemnity Group sai...
Posted: Sep 04, 2025
Australian general insurers spent around AUD2.5 billion on reinsurance last financial year, a strategy that prevented the need for up to AUD70 billion in capital to cover natural disasters and other major claims, according to research from the Act...
Posted: Sep 04, 2025
S&P Global Ratings, a provider of credit ratings and financial analysis, has stated that reinsurers’ growing reliance on managing general agents (MGAs) represents both opportunity and risk. According to S&P, MGAs enable reinsurers to acces...
Posted: Sep 04, 2025
The SEADRIF Insurance Company made a payout of $2 million to the Ministry of Finance of Lao PDR on 1st September 2025, under a first-of-its-kind policy that uses official government data on the number of people affected as the sole payout trigger,...
Posted: Sep 04, 2025
President Donald Trump’s administration plans to revoke federal approval of Avangrid’s planned New England Wind project off the coast of Massachusetts, according to a court filing on Wednesday. The legal maneuver is the latest move by U.S...
Posted: Sep 04, 2025
Willis Re, a specialised reinsurance broker, has announced that industry veteran Neville Ching has joined the company in Bermuda to support the firm’s reinsurance joint venture. As a reminder, in December 2024, WTW confirmed its plan to re-enter t...
Posted: Sep 04, 2025
Member companies of the Association of Bermuda Insurers and Reinsurers (ABIR) recorded a solid performance in 2024, showing a 10% increase in premium written, an 8.5% rise in total equity and gross written premium (GWP) increased to over $188 bill...
Posted: Sep 04, 2025
River Valley Underwriters, Inc has announced that it will be acquiring the book of business from Patriot National Underwriters, Inc, as well as the current employees. The parties expect to complete the transaction effective September 1, 2025. RVU is...
Posted: Sep 04, 2025
Dale Underwriting Partners, the trading name of Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, a specialist insurer at Lloyd’s of London, has announced it will cease writing Offshore Energy as an independent class of business. The decision...
Posted: Sep 04, 2025
Insurance Business Magazine - US
Posted: Sep 04, 2025
Global specialty insurer and reinsurer Ascot Group has announced the appointment of Stephen O’Flynn as Senior Vice President, Underwriter on the Ascot Re Casualty Treaty team in Bermuda. In this role, O’Flynn will report to Sean Ramlal...
Posted: Sep 04, 2025
Lockton Re, the reinsurance business of the independent insurance broker, has launched its Dubai operations, which will be led by Gerard Monayer as Chief Executive Officer (CEO), Lockton Re, Middle East and North Africa (MENA). The move marks the...
Posted: Sep 04, 2025
A South Dakota father and son have been ordered to pay over $4 million to resolve violations of the False Claims Act arising out of their 2018 and 2019 crop insurance fraud, according to the U.S. Attorney’s Office, District of …
Posted: Sep 04, 2025
OAK Global is launching a new strategic business unit, OAK Enterprise, which will be focused on underwriting retrocession business with an appetite for property and specialty classes. The newly formed Lloyd’s Syndicate 1440 has received in-prin...
Posted: Sep 04, 2025
In a frank letter accompanying Lloyd’s half-year results, CEO Patrick Tiernan called for a reset of expectations around key milestones for Blueprint Two, including market testing, dress rehearsals and a safe cutover, confirming that the re-platfor...
Posted: Sep 04, 2025
Global reinsurance provider OAK Re has rebranded its group identity to OAK Global, and launched a strategic business unit, OAK Enterprise, to underwrite retrocession business with an appetite for property and specialty classes, which will also pro...
Posted: Sep 04, 2025
Lloyd’s, the specialist insurance and reinsurance marketplace, generated gross written premium (GWP) of £32.5 billion in the first half of 2025, while the underwriting result contracted to £1.5 billion as the Los Angeles, California wildfire...
Posted: Sep 04, 2025
A global ship management and maritime services company was ordered to pay $2 million for improperly discharging oily waste into the Gulf of Mexico, the U.S. Attorney’s Office, Middle District of Louisiana announced last week. V.Ships Norway A.S...
Posted: Sep 04, 2025
Insurance Business Magazine - US
Posted: Sep 04, 2025
Insurance Business Magazine - US
Posted: Sep 04, 2025
Climate change made the extreme weather conditions that fueled the wildfires in Portugal and Spain about 40 times more likely to happen and the blazes themselves 30% more intense than if the world hadn’t warmed, research scientists said. The 10...
Posted: Sep 04, 2025
The European private credit market is gaining ground on the US, according to a report from Moody’s Ratings. Over the last several years, the depth of the market in Europe has lagged behind the US, mostly because of regulatory and …
Posted: Sep 04, 2025
Steadfast Group, an Australian insurance broker, has announced the acquisition of a majority stake in Novum Underwriting Partners LLC, an US-based specialty managing general agency (MGA) and wholesale brokerage. Established in Ohio in 2019, the bu...
Posted: Sep 04, 2025
Karen Clark & Company (KCC), a provider of catastrophe risk modelling solutions, has announced the appointment of Dr. Milan Simic as Global Strategy Advisor. In this role, Simic will lead global growth initiatives and manage international clie...
Posted: Sep 04, 2025
Neptune Insurance Holdings Inc., the parent company of Neptune Flood Incorporated, has announced the public filing of a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of i...
Posted: Sep 04, 2025
A U.S. judge on Wednesday held a three-hour hearing to consider objections to a deal between the Justice Department and Boeing that allows the planemaker to avoid prosecution on a charge stemming from two fatal 737 MAX plane crashes that …
Posted: Sep 04, 2025
A Carrier Management summary of earnings metrics for the year so far reveals a second-quarter average combined ratio of roughly 88, and a year-to-date ratio of just under 92 for a cohort of 27 insurers. Among the group, made up …
Posted: Sep 04, 2025
The European Union’s medicines regulator said on Wednesday there has been a surge in illegal medicines marketed as weight-loss and diabetes medicines online in recent months across the region, and warned about a serious risk to public health. G...
Posted: Sep 04, 2025
With inland flooding, storm surge losses and government cutbacks on the rise, parametric flood insurance may finally be having a moment in Florida and elsewhere in the Southeast. “It’s starting to get some traction. We’re seeing mor...
Posted: Sep 04, 2025
With inland flooding, storm surge losses and government cutbacks on the rise, parametric flood insurance may finally be having a moment in Florida and elsewhere in the Southeast. “It’s starting to get some traction. We’re seeing mor...
Posted: Sep 04, 2025
The U.S. property/casualty insurance industry recorded a net underwriting gain of $11.5 billion and net income of $49.1 billion for the first-half of 2025, according to a new report. “The lack of any significant natural catastrophes in the seco...
Posted: Sep 04, 2025
A chemical leak and fire at a suburban New York beauty products warehouse Tuesday may have been caused by a forklift mishap, officials said, warning neighbors to stay indoors. Commuter trains were temporarily stalled in the area ahead of the …
Posted: Sep 04, 2025
Descartes Underwriting, a specialist in corporate parametric insurance solutions for climate and emerging risks, has appointed Sébastien Bardy to the newly created role of Chief Financial Officer (CFO). Bardy will report to CEO Tanguy Touffut and...
Posted: Sep 04, 2025
A Pennsylvania man has been charged with tricking people into investing money he claimed would be used to buy thousands of automated teller machines, causing more than $400 million of investor losses, U.S. authorities said on Wednesday. Daryl Heller,...
Posted: Sep 04, 2025
U.S. states of California, Oregon and Washington said on Wednesday they have launched a new health alliance to provide unified vaccine recommendations amid growing tensions over federal immunization policies and public health directives. Under the We...
Posted: Sep 04, 2025
South Korea’s largest mobile operator was hit with a fine and stern criticism from the country’s privacy regulator after a cyberattack disclosed in April compromised the data of about half the nation’s population. The Personal Infor...
Posted: Sep 03, 2025
Goldman Sachs Group Inc. is fighting an £8.9 million ($11.9 million) claim from a former compliance manager who won a sex-discrimination ruling that he was unfairly fired after taking six months of paternity leave. Jonathan Reeves, who worked in Gold...
Posted: Sep 03, 2025
The funding will support regulatory expansion, new product development, and deeper partnerships with financial institutions and non-financial brands worldwide.
Posted: Sep 03, 2025
The combined organization will have $1.7+ billion in annual written premium.
Posted: Sep 03, 2025
When a vehicle is in storage, it needs insurance protection, but the needs differ from those of a car that’s driven.
Posted: Sep 03, 2025
Sedgwick’s majority shareholder is The Carlyle Group.
Posted: Sep 03, 2025
New capabilities enhance image and document analysis to support fraud prevention and streamline claims processing.
Posted: Sep 03, 2025
Coiteux will lead revenue strategy and market expansion for the cloud-based P&C software provider.
Posted: Sep 03, 2025