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Skyward Specialty Insurance Group, Inc. has reported a rise of 12.4% in gross written premiums (GWP) as they hit $400 million in Q3 2024, compared to last year’s $355 million. For 9M 2024, GWP hit $1.3 billion, increasing by 19% from the comparati...
Posted: Oct 30, 2024
More than 60 people died as eastern Spain was hit by one of the worst storms in decades on Tuesday night. The storm is “one of the three strongest in the last century in the region of Valencia,” the Spanish …
Posted: Oct 30, 2024
Qatar Insurance Company (QIC Group) has announced its financial results for the first nine months of 2024 reporting a net profit of QAR 525 million, a 16% increase compared to the same period the year prior. The global macroeconomic outlook has im...
Posted: Oct 30, 2024
Westhoff will be responsible for leading the $1 billion-plus Commercial Insurance portfolio.
Posted: Oct 30, 2024
Global insurance and reinsurance broking group Aon feels that “healthy” and “well-capitalized” insurance and reinsurance markets are positioned to absorb industry losses of between $34 billion and $54 billion from hurricane...
Posted: Oct 30, 2024
Rising health care costs threaten employer competitiveness and employee wages, but innovative strategies may help mitigate the impact, research by the National Alliance of Healthcare Purchaser Coalitions finds. The post
Posted: Oct 30, 2024
A former volunteer fire chief in North Carolina has been charged with embezzling almost $155,300 from his department by falsifying time sheets. State Insurance Commissioner Mike Causey said in a statement that Brian Jason Edwards, 49, of Granite Fall...
Posted: Oct 30, 2024
Verisk, the global data analytics and technology provider has reported its financial results for the third quarter of 2024, which includes an increase in its consolidated and organic constant currency (OCC) revenues, with growth contributions from...
Posted: Oct 30, 2024
Finance minister Rachel Reeves said on Wednesday she would raise employers’ social security contributions to 15% from April, a major revenue raiser for a budget the government hopes will kick-start moves to turn around a flagging economy. Brita...
Posted: Oct 30, 2024
The son of the late Major League Baseball Hall of Famer Roberto Clemente and Allstate Insurance Co. have settled their disputes over Allstate’s cancellation of the Clemente Family Agency’s contract and allegations of racial bias. The part...
Posted: Oct 30, 2024
A new US antitrust rule requiring companies to give the government more information on their mergers and acquisitions came with a surprise twist: The Federal Trade Commission passed it with a rare 5-0 vote. The agency’s two Republican commissio...
Posted: Oct 30, 2024
Realtors in California are reporting more difficulty selling homes because of the insurance crisis, according to a survey from the California Association of Realtors. The group surveyed its members and found 13% reported a home sale falling out of es...
Posted: Oct 30, 2024
Officials in two Southeastern states have taken steps to hold insurers or recipients of insurance funds accountable after Hurricanes Helene and Milton spurred thousands of insurance claims. The Tennessee Department of Commerce and Insurance reminded...
Posted: Oct 30, 2024
An increasing number of German mutual insurers are merging, with a common trend toward greater diversification in business lines and increased scale amid sharply rising IT costs, according to Berenberg analysts. In 2024, four mergers have either b...
Posted: Oct 30, 2024
Insurance and reinsurance broking group Gallagher has appointed Darren Richardson as an energy risk engineer to support the oil and gas value chain operations. From what Reinsurance News understands, in his new role, Richardson will also be respon...
Posted: Oct 30, 2024
Aviation underwriters are encountering increased challenges in accurately assessing risk exposure and managing portfolios, prompting a pressing need for real-time data insights and advanced tools, which Concirrus, an insurtech innovator, has addre...
Posted: Oct 30, 2024
Global Natural Catastrophe Insured Losses Exceed $102B During Q1-Q3 2024: Aon The third quarter of...
Posted: Oct 30, 2024
Surgery schedules around the country may be washed out for several more weeks while a crucial IV and sterile fluids factory remains shut down for hurricane-related damage. People often plan non-emergency surgeries in the fall and early-winter months...
Posted: Oct 30, 2024
Florida-based insurance broker King Risk Partners reports it has acquired Suzio Insurance Center, Inc., an independent insurance agency based in Meriden, Connecticut. Suzio Insurance Center was started in 1974 by the late Franklin Suzio and is curren...
Posted: Oct 30, 2024
Correction: A earlier version of this story had the wrong percentage in the headline. Insurance Journal regrets the error. New Jersey Commissioner of Banking and Insurance Justin Zimmerman has approved a 6.9% statewide average decrease in rates for w...
Posted: Oct 30, 2024
NewRe, a Property and Casualty reinsurance company part of Munich Re Group, has announced the appointment of Dr. Claudia Strametz as President of its Board of Directors. A seasoned executive with over 20 years of experience in the reinsurance mark...
Posted: Oct 30, 2024
Insurers across Europe will be on high alert as torrential rain has triggered devastating flash floods in southeastern Spain, causing widespread destruction and claiming at least 60 lives. According to the Spanish weather service AEMET, the town o...
Posted: Oct 30, 2024
Buyer-friendly conditions in the global insurance market have persisted through much of the third quarter of 2024, and even accelerated in some segments, creating opportunities as the year-end renewals draw near, Joe Peiser, Chief Executive Office...
Posted: Oct 30, 2024
Specialist Risk Group (SRG), the London-based insurance intermediary, announced the acquisition of Stonehatch, a leading specialist bloodstock and livestock insurance broker. Financial details of the transaction were not disclosed. Founded in 2014 by...
Posted: Oct 30, 2024
A new analysis from ICEYE, a provider of satellite-based disaster management solutions, has revealed that almost 185,000 buildings in Florida were impacted by hurricane Milton’s flooding. Readers will recall that ICEYE had previously warned...
Posted: Oct 30, 2024
Albanian prosecutors ordered that containers filled with suspected hazardous industrial waste be seized after the cargo was forced to return to Europe from Southeast Asia. The prosecutors’ order Sunday directed customs authorities and the polic...
Posted: Oct 30, 2024
When YouTube blocked three Russian channels it said were controlled by sanctioned supporters of Vladimir Putin’s invasion of Ukraine, the US video company thought any disputes would be resolved in courts in California and England. It couldnR...
Posted: Oct 30, 2024
During SCOR’s live session, “The Re(insurer) of Tomorrow,” Thierry Léger, CEO of SCOR, emphasised the urgent need for improved communication between public authorities and the insurance industry to enhance resilience against risks. Léger pointed o...
Posted: Oct 30, 2024
QBE North America, part of the global insurer, has announced the appointment of Matt Westhoff as President of its Commercial Insurance business, effective November 11, 2024. In this role, Westhoff will oversee QBE’s $1 billion-plus Commercial Insu...
Posted: Oct 30, 2024
The most powerful typhoon in almost six decades threatening to barrel across Taiwan this late in the year has raised the prospect of another suspension of the island’s $2.5 trillion stock exchange by a storm. Super Typhoon Kong-Rey has intensif...
Posted: Oct 30, 2024
Taiwan will suspend trading on its $2.5 trillion stock exchange Thursday as a powerful typhoon barrels toward the archipelago. Super Typhoon Kong-Rey has intensified as it skirts the Philippines and tracks toward Taiwan, where it’s expected to...
Posted: Oct 30, 2024
Indian police have asked Asit Rath, the chief executive of British insurer Aviva in the country, to join an inquiry into a former employee’s accusations of religious discrimination in the workplace, documents seen by Reuters showed. The investi...
Posted: Oct 30, 2024
Indian police have summoned Asit Rath, the chief executive of British insurer Aviva in the country, as part of an inquiry into a former employee’s accusations of religious discrimination at work, documents seen by Reuters showed. The investigat...
Posted: Oct 30, 2024
Indian police have summoned Asit Rath, the chief executive of British insurer Aviva in the country, as part of an inquiry into a former employee’s accusations of religious discrimination at work, documents seen by Reuters showed. The investigat...
Posted: Oct 30, 2024
Global property and casualty insurer Chubb has reported P&C underwriting income for Q3 2024 of $1.46 billion, up 11.7% from the same period in 2023, with a combined ratio of 87.7%. This occurred despite the firm disclosing pre-tax catastrophe...
Posted: Oct 30, 2024
Global legacy re/insurance specialist Enstar Group Limited has appointed Paul Brockman to the newly created role of Chief Commercial Officer, effective immediately, with Adrian Thornycroft set to join the firm in May of next year as Chief Administ...
Posted: Oct 30, 2024
Gallagher Re and African Risk Capacity Ltd (ARC Ltd) have developed a new parametric reinsurance product for the UN World Food Programme (WFP) aimed at providing timely financial responses to populations affected by drought and food insecurity in...
Posted: Oct 30, 2024
SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, has announced the appointment of former Guy Carpenter CEO Peter Hearn to its Board of Managers. Hearn is a seasonal executive with a career spanning...
Posted: Oct 30, 2024
Posted: Oct 30, 2024
AIA China has received approval from the National Financial Regulatory Administration Anhui Bureau to begin setting up a new branch in Anhui province. Located in Eastern China, Anhui province has a gross domestic product (GDP) of RMB4.7 trillion a...
Posted: Oct 30, 2024
Property & casualty (P&C) insurer The Hartford has announced an expansion of Michael Garrison’s responsibilities to include the International division, in addition to his current role as head of the company’s US wholesale organ...
Posted: Oct 30, 2024
Falcon Risk Services, a majority-owned MGA under HDI Global Specialty, which is a subsidiary of HDI Global SE, has partnered with ArxNimbus, a company in cybersecurity risk management, to reshape the approach to cyber risk quantification. This col...
Posted: Oct 30, 2024
Back-to-back hurricane landfalls in the span of less than two weeks have placed flood insurance in a new light for many inside and outside of the insurance industry, if not front and center. Images of flood and storm damage from …
Posted: Oct 30, 2024
Hub International Limited (HUB), a global insurance brokerage and financial services firm, has announced the appointment of Tim DeSett as President of North American Commercial Lines. DeSett will report to Chris Treanor, President of Programs &...
Posted: Oct 30, 2024