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Posted: May 30, 2025
Posted: May 30, 2025
Brazilian reinsurer IRB(Re), via its wholly owned subsidiary, Andrina Special Purpose Insurance Entity (SSPE), has issued the first insurance-linked securities (ILS) transaction in the country, a R$33.7 million transaction (USD 5.9m) covering risk...
Posted: May 30, 2025
The latest people news in the industry today. The post Jeff Lang Promoted to President of Retail Property and Casualty...
Posted: May 30, 2025
A former West Virginia volunteer fire official who pleaded guilty to fraud after burning down his home and misusing the fire department’s credit card has been sentenced to 33 months in prison. Donald A. Ennis, 44, of St. Albans, also …
Posted: May 30, 2025
ZestyAI announced that the Michigan Department of Insurance and Financial Services has approved its severe convective storm suite. The approval comes as Michigan contends with rising weather-related insurance losses. According to NOAA’s Nationa...
Posted: May 30, 2025
The Texas House gave a thumbs Wednesday to a bill allowing smaller homes on smaller lots in Texas’ biggest cities, part of a broad push by state lawmakers to put a dent in the state’s high home prices. But the …
Posted: May 30, 2025
Berenberg, a private bank and financial institution in Europe, has released new analysis highlighting a clear trend across the London insurance market: stronger pricing discipline is holding, driven by structural changes in the global reinsurance...
Posted: May 30, 2025
The Republican-led House of Representatives has narrowly passed a giant tax and spending bill that would end Inflation Reduction Act subsidies for clean power years early. The proposed changes threaten to unravel a variety of incentives that would re...
Posted: May 30, 2025
Dai-ichi Life Holdings, Inc., a Japanese life insurance company, and M&G, an international asset manager and asset owner, have announced a long-term strategic partnership involving asset management and life insurance. Under this agreement, M&#...
Posted: May 30, 2025
Markel integrates mea Platform into Canadian underwriting operations.
Posted: May 30, 2025
Swedish insurer has introduced a new car-sharing insurance product.
Posted: May 30, 2025
The European Commission will propose a new EU climate target in July that includes flexibilities for how countries meet it, as Brussels attempts to fend off mounting criticism of Europe’s environmental aims, EU diplomats told Reuters. The Europ...
Posted: May 30, 2025
Wildfires are threatening about 5% of Canada’s crude output as a blaze in Alberta’s oil sands region spreads and approaches major production sites. A total of 26 out-of-control fires are burning in the province amid hot, dry weather, brin...
Posted: May 30, 2025
Global multiline insurers (GMIs) are expected to report stable profits or a low single-digit increase in profits in 2025, compared with 2023-2024, S&P revealed in a recent report. “We anticipate aggregate earnings of $65 billion-$75 bill...
Posted: May 30, 2025
This edition of International People Moves details executive appointments at Markel and AXA XL Reinsurance. A summary of these new hires follows here. Markel Taps Former RSA Exec Mooney to Succeed Galjaard Who Will Step Down Markel, the insurance ope...
Posted: May 30, 2025
After losing their biggest export market due to Donald Trump’s trade wars, US farmers are now counting on the president’s support for biofuels to prevent their next crop from piling up in storage. The administration is set to soon unveil...
Posted: May 30, 2025
CVS and Express Scripts asked a federal judge on Thursday to block a law prohibiting pharmacy benefit managers from owning or operating pharmacies in Arkansas, challenging the first such restriction enacted by a state. The lawsuits come a little over...
Posted: May 30, 2025
CVS and Express Scripts asked a federal judge on Thursday to block a law prohibiting pharmacy benefit managers from owning or operating pharmacies in Arkansas, challenging the first such restriction enacted by a state. The lawsuits come a little over...
Posted: May 30, 2025
US Coastal Insurance Company (USCIC) and US Coastal Property and Casualty Insurance Company (USCPC)—together known as US Coastal—have sponsored a debut catastrophe bond, securing $330 million in US named storm reinsurance through its Chartwell Re...
Posted: May 30, 2025
The Honolulu Police Department said it will review all impaired driving arrests after the American Civil Liberties Union of Hawaii filed a lawsuit alleging officers are arresting sober drivers in an overzealous focus on making drunk-driving arrests....
Posted: May 30, 2025
The Czech Republic has accused China of being “responsible” for cyberattacks against a a communication network of its Foreign Ministry, officials said on Wednesday [May 28]. The Foreign Ministry in Prague said the malicious activities sta...
Posted: May 30, 2025
In an era where billion-dollar disasters are becoming the norm, one truth stands above the wreckage: strong building codes save buildings – and lives. Yet despite mounting risks, the U.S. remains caught in a paradox. We have the knowledge and …
Posted: May 30, 2025
Aon, a professional services firm specialising in risk, retirement, and health solutions, has released its latest Weekly Catastrophe Report highlighting severe weather impacts across the United States. Over the past week, the southern US experienc...
Posted: May 30, 2025
The only stock in the FTSE 100 with buy recommendations from every analyst that covers it just gained another bull. Beazley Plc was named a ‘top pick’ by Berenberg, which gave the Lloyd’s of London insurer a 1,150 pence price …...
Posted: May 30, 2025
Arden Insurance Services, a tech-enabled managing general agency (MGA), has surpassed $300 million of in-force premium since its founding in June 2016. This major milestone means Arden now insures over $175 billion of total insured value. The MGA...
Posted: May 30, 2025
The U.S. Securities and Exchange Commission on Thursday voluntarily dismissed its civil lawsuit against Binance, the world’s largest cryptocurrency exchange, extending the regulator’s new approach to cryptocurrencies since President Donal...
Posted: May 30, 2025
Florida’s personal property insurance market reported a significant recovery in 2024, posting its first underwriting profit after eight consecutive years of losses, according to a recent AM Best report. The sector also recorded a substantial incre...
Posted: May 30, 2025
A former WWE executive who had been fighting sexual abuse allegations in a lawsuit by an ex-employee has agreed to a confidential settlement and will now help the accuser as she continues suing the company and former leader Vince McMahon, …
Posted: May 30, 2025
Markel Insurance, the insurance arm of Markel Group Inc., has appointed Lee Mooney to lead its UK regional business, succeeding Neil Galjaard, who will step down from his role towards the end of June. Galjaard has served as Divisional Managing Dir...
Posted: May 30, 2025
The upcoming 2025 Atlantic hurricane season is expected to see “above average” activity, though likely less extreme than in 2024, with the reinsurance market appearing well-positioned to manage it, according to Acrisure Re, the re/insurance divisi...
Posted: May 30, 2025
AM Best has removed the under review with developing implications status it placed on Velocity Specialty Insurance Company (VSIC) earlier this year, upgrading its Financial Strength Rating to A from A- and its Long-Term Issuer Credit Rating (Long-...
Posted: May 30, 2025
Industry Vets Bonneau and Bredahl Lead ‘Novel’ HoldCo....
Posted: May 30, 2025
Appeals Court Allows Trump Tariffs to Stay in Effect for Now A federal appeals court temporari...
Posted: May 30, 2025
Palomar Holdings has completed key reinsurance placements effective June 1, 2025, adding approximately $455 million in incremental limit to support its expanding Earthquake franchise, bringing total earthquake coverage to $3.53 billion and U.S. hu...
Posted: May 30, 2025
Steve Parker is to head up Vasek Insurance, part of Gallagher’s UK & Ireland Retail division, as Managing Director, taking over the role from James Collins, who has been appointed Managing Director to lead the firm’s UK-wide real estate offeri...
Posted: May 30, 2025
Florida headquartered property insurer American Integrity Insurance Group has completed the placement of its 2025-2026 catastrophe excess-of-loss reinsurance program, lifting the amount of limit secured by 45%, or $799 million year on year to $2.5...
Posted: May 30, 2025
Universal Insurance Holdings’ wholly-owned insurance subsidiaries have completed their combined reinsurance program for the 2025–2026 period, setting the top of their reinsurance tower for a single All States event (including Florida) at $2.526 bi...
Posted: May 30, 2025
Global shipping losses have fallen to their lowest level in decades—just 27 vessels in 2024, down from more than 200 annually in the 1990s—according to the Safety and Shipping Review 2025 by Allianz Commercial, the corporate insurance division of...
Posted: May 30, 2025
Global fintech Acrisure has entered into a definitive agreement to acquire Heartland Payroll Solutions, Global Payments’ payroll business, for $1.1 billion. Heartland Payroll is a payroll and human capital management (HCM) company in the United St...
Posted: May 30, 2025
Canadian managing general agent (MGA) Revau, a specialist in property and casualty insurance, is expanding its footprint in the US through its recent partnership with Brazos Specialty Risk Insurance and Twenty Mile Insurance Services, two independ...
Posted: May 30, 2025
The former chief executives of Partner Re and Howden Tiger are joining two other industry veterans to form a company, which they describe as “an independent holding company that oversees carriers supporting managing general underwriters. Novel...
Posted: May 30, 2025
Florida Gov. Ron DeSantis has vetoed a bill that would have restored some family members’ right to file suit after a loved one dies from medical negligence. The Florida Legislature this year approved House Bill 6017 by wide margins. The …
Posted: May 30, 2025