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Although the property and casualty (P&C) operations of reinsurers Munich Re, Swiss Re, Hannover Re, and SCOR were hit by elevated large loss costs in the first quarter of 2025, driven by the historic Los Angeles wildfires, analysts at Fitch Ra...
Posted: May 20, 2025
Boost Prices or Ret...
Posted: May 20, 2025
Workers Comp Premiums Fall 3% in 2024; Combined Ratio Holds at 86: NCCI Workers compensation remain...
Posted: May 20, 2025
Q1 Shows ‘Clear’ Signs of Commercial P/C Softening, Says CIAB According...
Posted: May 20, 2025
Turbulent Waters May Have Contributed to Mexican Tall Ship’s Crash into Brooklyn Bridge When a Mexican...
Posted: May 20, 2025
Global reinsurer Hannover Re has announced the appointment of Vincent Hermenier as Managing Director. He will be taking over the role from Sigrid Klass, who will be retiring from the company June 30, 2025 after more than 35 years of service. As MD...
Posted: May 20, 2025
RIMS recognizes Cruywagen, Meltzer, and Wood for international leadership and educational contributions. The post Global Risk Management...
Posted: May 20, 2025
Stablecoin legislation overcame a procedural blockade in the US Senate, marking a major victory for the crypto industry after a group of Democrats dropped their opposition Monday. The industry-backed regulatory bill is now set for debate on the Senat...
Posted: May 20, 2025
The Cyclone Reinsurance Pool, a reinsurance arrangement between insurers and Australian Reinsurance Pool Corporation (ARPC), has significantly reduced insurance premiums and improved insurance availability for Australians living in cyclone-prone a...
Posted: May 20, 2025
Coterie is a commercial insurance MGA.
Posted: May 20, 2025
New report from Insly explores leading AI use cases happening now, and how MGAs and insurers can deliver ROI from the technology, while managing the risks.
Posted: May 20, 2025
The more systems you add to your tech stack, the more important it is for those technologies to communicate with one another.
Posted: May 20, 2025
Global insurer and reinsurer Everest Group has announced the appointment of Darryl Page as an independent, non-executive member of its Board of Directors. Page currently serves as a Trustee, Treasurer, and Chair-Elect on the Board of the Dominican...
Posted: May 20, 2025
Massachusetts Insurance Commissioner Michael Caljouw has rejected an industry proposal to raise workers’ compensation rates by 7.1%. As a result, existing rates, which reflect a 14.6% decrease ordered last July, will remain in effect for polici...
Posted: May 20, 2025
The Insurance Information Institute (Triple-I) has released its latest wildfire Issues Brief, revealing a significant rise in wildfire risk across all regions of the United States. Data from the National Interagency Coordination Center (NICC) show...
Posted: May 20, 2025
Willis, a WTW business, has announced the appointment of Grant Williamson as Canada leader within the Corporate Risk and Broking (CRB) business. Based in Toronto, Williamson will leverage his two decades of industry experience to drive the Canadia...
Posted: May 20, 2025
The Deutsche Rück Group reported a strong performance for the 2024 financial year, with gross premiums written increasing across all business segments, up 18.3% year-over-year to approximately €2.1 billion. According to the firm, this growth was d...
Posted: May 20, 2025
Insurance Business Magazine - US
Posted: May 20, 2025
Bayer is preparing a plan to settle some of its mass lawsuits over Roundup weedkiller in Missouri, and may also seek bankruptcy for its Monsanto unit if the effort fails, the Wall Street Journal reported, citing sources. The German pharmaceutical ...
Posted: May 20, 2025
Shields Health Care Group has agreed to pay $15.3 million to settle federal and state class actions filed against it by patients over a 2022 data breach. Shields operates medical imaging and surgical centers in 50 locations across the New …
Posted: May 20, 2025
Origin Specialty, a partner company of Beyond Risk, is combining its deep expertise in hospitality underwriting with Emerald Bay’s strong financial backing and collaborative approach for the launch of a new Specialty Property Insurance Program. Ta...
Posted: May 20, 2025
Marsh, an insurance broker and risk advisor within Marsh McLennan, has been appointed by the Australian Government to the Maritime Insurance Program (MIP), which encompasses all aspects of the country’s naval shipbuilding, sustainment, and moderni...
Posted: May 20, 2025
Tokio Marine Holdings has announced its full year 2024 financial results for its International business, reporting JPY 428.4 million in profits, a 2% decrease compared to 2023’s JPY 436.9 million. According to the firm, the decrease was mainly due...
Posted: May 20, 2025
Japan’s three major casualty insurers plan to sell a total of about ¥1.37 trillion ($9.5 billion) of cross-held shares in the fiscal year started April in a push to reduce strategic holdings in line with government policy. Tokio Marine Holdings...
Posted: May 20, 2025
Global insurer and reinsurer MS Amlin Underwriting Limited (MS AUL) has reported a net income of £149 million for the full year 2024, representing a reduction of £47 million compared to the £197 million recorded the year prior. The company attribu...
Posted: May 20, 2025
A new report from Howden has revealed that the European agriculture sector loses an average of €28 billion annually due to adverse weather, with farmers bearing 70–80% of all weather-related farm losses, highlighting a significant insurance protec...
Posted: May 20, 2025
TJ Frost witnessed the benefits of medical cannabis and pioneered a brokerage for the then-nascent industry that is now booming. The post
Posted: May 20, 2025
AM Best, a credit rating agency and provider of financial data and analysis for the insurance industry, reports that insurers offering directors and officers (D&O) liability coverage in the US recorded their most favourable loss experience in...
Posted: May 20, 2025
MS Reinsurance (MS Re), a Switzerland-domiciled global reinsurer, has reported growth of 17.6% in gross written premiums (GWP) to $3.6 billion for full year 2024, up from $3.1 billion in 2023, driven by top line growth in a favourable market envir...
Posted: May 20, 2025
MarshBerry, a global M&A and investment advisor for insurance brokers, Managing General Agents (MGAs) and wealth management firms, continues its European growth strategy with the establishment of a presence in Germany, Austria, and Switzerland...
Posted: May 20, 2025
Sompo International has reported an adjusted profit of $1.38 billion for the 2024 financial year (FY2024), an increase of $230 million year-over-year, driven by robust top-line growth, reduced adverse prior-year development, and higher net investm...
Posted: May 20, 2025
Commercial and specialty lines insurer HDI Global has announced the appointment of Phil McDowell as Global Sales & Distribution Lead for International Programmes and Captives. Based in London, McDowell will work within the global International...
Posted: May 20, 2025
Vincent J. Gaffigan has been appointed U.S. Market Strategy and Engagement Group Leader at Lockton, reporting to Devin Beresheim, Lockton U.S. Risk Solutions Leader. Gaffigan will leverage his 35 years in the industry to strengthen the company’s d...
Posted: May 20, 2025
Boroughs Named Vice Chairman, Chubb Group; Hogan Succeeds Boroughs as Chubb Group Chief Investment Officer Chubb Limited, with U.S. headquarters in Warren, New Jersey, named Tim Boroughs vice chairman, Chubb Group and executive chairman, asset manage...
Posted: May 20, 2025
Bermuda-domiciled insurer and reinsurer Hamilton Insurance Group has appointed David Priebe and Karen Green to its Board of Directors, effective May 15th, 2025. Simultaneously, long-standing Director, Bill Freda, who has served on the Board since...
Posted: May 20, 2025
More tornadoes plowed through the central U.S. on Monday and thousands were without power as people from Texas to Kentucky continued to clean up from days of severe weather that killed more than two dozen people and destroyed thousands of …
Posted: May 20, 2025
The broader property and casualty (P&C) insurance trend is expected to remain steady through 2025, with personal lines and brokers likely leading on the earnings growth front, however, sector valuations are becoming less attractive as earnings...
Posted: May 20, 2025
This post is part of a series sponsored by AgentSync. Today’s insurance agencies rely on an average of 5.7 to 11.9 different technology platforms for day-to-day operations, depending on their total revenue. For large-scale carriers managing mul...
Posted: May 20, 2025
Driverless vehicle developer Aurora Innovation Inc. is putting a human back in front of the wheel of big rigs operating in Texas, reversing course less than three weeks after the company began commercial autonomous service there. The decision to move...
Posted: May 20, 2025
Energy companies have complex risk profiles, with significant liability, workers’ comp and regulatory exposures. Claims are often far from straightforward, but utilizing AI to gather information can help to simplify and streamline the process.
Posted: May 20, 2025
The American Property Casualty Insurance Association (APCIA) chimed in to a recent Senate subcommittee hearing to defend the industry’s response to claims following hurricanes Milton and Helene. “The vast majority of claims from Hurricane...
Posted: May 20, 2025
Italy’s data protection agency has fined the developer of artificial intelligence (AI) chatbot company Replika 5 million euros ($5.64 million) for breaching rules designed to protect users’ personal data, the authority said on Monday. Lau...
Posted: May 20, 2025
EY failed to spot a major fraud by main shareholders of UAE hospital operator NMC Health in what lawyers for the firm’s administrators described as disgraceful auditing, at the start of a roughly $3 billion London trial on Monday. The …
Posted: May 20, 2025
The EU will propose to G7 finance ministers this week to lower the current $60 per barrel price cap on Russian seaborne oil as part of the new sanctions package against Moscow, European Economic Commissioner Valdis Dombrovskis said on Monday. …
Posted: May 20, 2025
Motion Specialty has been approved as a Lloyd’s of London coverholder, founded by former Hiscox executives Dan Alpay and Alex Kickham. The business writes on behalf of Lloyd’s Syndicate 1301, managed by Inigo Ltd., and is supported by Joh...
Posted: May 20, 2025
The Federal Communications Commission said it was approving Verizon Communication’s $20 billion deal to acquire fiber-optic internet providers Frontier Communications after the largest U.S. telecom company agreed to end its diversity, equity an...
Posted: May 20, 2025