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Arthur J. Gallagher & Co. has acquired London-based investment consulting firm Redington. Serving clients primarily in the UK, Redington provides investment, research and technology services to pension funds, wealth managers and institutional...
Posted: Oct 25, 2024
The latest people news in the industry today. The post Emma Crookes Promoted to Global Head of Insurance Vertical at Aon appeared...
Posted: Oct 25, 2024
The latest people news in the industry today. The post Verisk CEO Lee Shavel Appointed to Federal Advisory Committee on Insur...
Posted: Oct 25, 2024
The latest people news in the industry today. The post Tim Benson Appointed as Executive Vice President at Chubb appeared first on
Posted: Oct 25, 2024
Allianz is weighing options for its Allianz Global Investors unit, including a possible merger or partial sale of the division, four people with knowledge of the matter told Reuters, in a move that would give the business greater scale. AllianzGI, &#...
Posted: Oct 25, 2024
District of Columbia Attorney General Brian L. Schwalb reported that Universal Title will pay $500,000 after an investigation by his office found that the company was engaged in an illegal title insurance kickback scheme. The attorney general’s...
Posted: Oct 25, 2024
Third quarter 2024 net income at The Hartford improved about 18% compared to the same period a year ago despite $247 million in pretax catastrophe losses—$104 million from Hurricane Helene. Net income was $767 million compared to $651 million a ̷...
Posted: Oct 25, 2024
CONYERS, Ga. (AP) — A Georgia county is preparing a federal lawsuit that aims to shut down the BioLab chemical factory where a fire sent a toxic chemical cloud over Atlanta’s suburbs last month, the latest in a series of …
Posted: Oct 25, 2024
The latest people news in the industry today. The post Greg Schiffer Appointed as CEO, North America, Reinsurance at AXA XL appea...
Posted: Oct 25, 2024
According to a recent report by Conning, the escalating impact of natural catastrophes is threatening the homeowners insurance sector, indicating that the industry cannot sustain its current trajectory without significant changes. While natural di...
Posted: Oct 25, 2024
RALEIGH, N.C. (AP) — The catastrophic flooding and destruction caused by Hurricane Helene in western North Carolina likely caused at least a record $53 billion in damages and recovery needs, Gov. Roy Cooper’s administration said Wednesday. The...
Posted: Oct 25, 2024
Property & casualty (P&C) insurer The Hartford has posted an 18% year-on-year increase in net income to $761 million for the third quarter of 2024, driven by double-digit earned premium growth in both its Commercial and Personal Lines segm...
Posted: Oct 25, 2024
The Associate in Cyber Risk Management designation is intended to bolster the knowledge of different stakeholders in the risk management and risk transfer professions. The post
Posted: Oct 25, 2024
With the reinsurance industry remaining adequately capitalised and poised to meet demands at the upcoming January 1 renewals, J. Patrick Gallagher, Jr., Chairman, President and CEO of A.J. Gallagher & Co., remains confident that Gallagher Re w...
Posted: Oct 25, 2024
S&P Reveals Top 50 Largest P/C Insurers As the third-fastest growing company on a list of...
Posted: Oct 25, 2024
Eligible commercial property insurance clients of FM will receive a share of $400 million in what the insurer calls a “resilience credit” to be put toward climate mitigation solutions. This is the third resilience credit allocated since F...
Posted: Oct 25, 2024
Lloyd’s global re/insurer MS Amlin has appointed Jo Hine and Andrew Downes as Independent Non-Executive Directors. Hine takes over as Chair of the Risk and Solvency Committee, subject to regulatory approval. She has extensive experience in f...
Posted: Oct 25, 2024
The Philippines is ramping up efforts to contain the devastation caused by severe tropical storm Trami, which has killed 25 people, affected millions and shut government offices for a third straight day on Friday. President Ferdinand Marcos Jr. said...
Posted: Oct 25, 2024
The Singaporean corporations that owned and operated the cargo ship Dali have agreed to pay $101,980,000 to resolve a civil claim brought by the United States for costs related to the response to the catastrophic collapse of Baltimore’s Francis...
Posted: Oct 25, 2024
Cincinnati Financial Corporation has announced its financial results for the third quarter of 2024, reporting a combined ratio for the Consolidated Property Casualty Insurance segment of 97.4%, an increase from 94.4% in the same period last year d...
Posted: Oct 25, 2024
An Indian court in the southern state of Tamil Nadu has told insurer Star Health to help Telegram identify data leaked via its messaging app so the chatbots can be deleted. The country’s biggest insurer with roughly $4 billion market …
Posted: Oct 25, 2024
Broadstone, an independent financial services consultancy, has outlined four essential steps for insurers preparing for the Prudential Regulation Authority (PRA)’s new guidelines on Solvent Exit Planning. On January 23, 2024, the PRA released a co...
Posted: Oct 25, 2024
City firms reported a 72% surge in non-financial misconduct complaints over the last three years following a string of high-profile scandals including sexual harassment allegations leveled at hedge fund chief Crispin Odey. In the biggest review of di...
Posted: Oct 25, 2024
Global insurance and reinsurance broking group Aon has reported a 26% year-on-year rise in total revenue to $3.7 billion for the third quarter of 2024, with solid organic revenue growth across the business, including 7% to $503 million in its Rein...
Posted: Oct 25, 2024
Donegal Insurance Group has partnered with ZestyAI, a climate and property risk analytics solutions provider, to utilise its new AI-powered solution to enhance property risk assessment by accurately determining roof age across the US. Through the...
Posted: Oct 25, 2024
Kinsale Capital Group, Inc. has reported a net income of $114.2 million for Q3 2024, which includes after-tax catastrophe losses of $10.8 million, compared to after-tax catastrophe losses of $0.9 million in Q3 2023, when the net income was $76.1 m...
Posted: Oct 25, 2024
Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based broker, announced the acquisition of London-based Redington Ltd. Terms of the transaction were not disclosed. Redington is an investment consulting firm providing comprehensive invest...
Posted: Oct 25, 2024
Alcohol-fueled company events could become a thing of the past, as UK employers consider new rules that place an onus on firms to protect workers from sexual harassment or risk hefty damages claims. Under a new law, companies will have …
Posted: Oct 25, 2024
Ivans, a division of Applied Systems, has released the results for the third quarter of 2024 from the Ivans Index, which show year-over-year premium renewal rate increases across all major commercial lines of business, except Workers’ Compensation...
Posted: Oct 25, 2024
insurance, asset and wealth management and private equity – are planning to increase office attendance in the next 12 months, according to a new KPMG UK research. Of those planning to increase attendance, more than a third (37%) expect emplo...
Posted: Oct 25, 2024
Florida-domiciled and expansive primary insurance company, Universal Insurance Holdings, has reported a Q3 2024 combined ratio of 116.9%, up by 6.2 points from the comparative quarter, reflecting an increase in both the net loss and net expense ra...
Posted: Oct 25, 2024
Posted: Oct 25, 2024
Posted: Oct 25, 2024
Amid growing demand for reinsurance capacity, clients have shown interest in buying lower down to go back to past retention levels, MAPFRE RE’s Mark Meyerhoff has observed, yet this is not something he sees happening, instead he anticipates...
Posted: Oct 25, 2024
Through a partnership with Cognizant, FCCI Insurance Group (FCCI) has launched a new Excess & Surplus (E&S) line of business, marking a significant milestone in its modernisation journey. This collaboration utilises Cognizant’s exper...
Posted: Oct 25, 2024
Global insurance broker A. J. Gallagher & Co. has reported net earnings of $314.1 million for Q3 of 2024, up 12% from the same period of last year, while total revenues increased 13% to $2.77 billion. Gallagher’s EBITDAC also improved to...
Posted: Oct 25, 2024
S&P Global Ratings, a provider of credit ratings, research, and analytics, forecasts that most Protection and Indemnity (P&I) clubs will achieve near-breakeven results for the financial year ending February 20, 2025. The 12 P&I clubs i...
Posted: Oct 25, 2024
The Lloyd’s insurance and reinsurance market, as well as the Lloyd’s Market Association (LMA) and LIIBA (London & International Insurance Brokers’ Association), two London-focused insurance and reinsurance organisations have shared...
Posted: Oct 25, 2024
Global ratings agency AM Best has downgraded the Issuer Credit Ratings of South Carolina Farm Bureau Group (SCFBG) due to ongoing volatility in its operating results, primarily driven by weather-related events and inflationary pressures, particula...
Posted: Oct 25, 2024
H.W. Kaufman Group Names Kaufman and Kaufman Davis to Newly Established Co-President Role H.W. Kaufman Group, headquartered in Farmington Hills, Michigan, named Danny Kaufman and Jodie Kaufman Davis as co-presidents. The newly created positions estab...
Posted: Oct 25, 2024
H.W. Kaufman Group Names Kaufman and Kaufman Davis to Newly Established Co-President Role H.W. Kaufman Group, headquartered in Farmington Hills, Michigan, named Danny Kaufman and Jodie Kaufman Davis as co-presidents. The newly created positions estab...
Posted: Oct 25, 2024
As the third-fastest growing company on a list of the world’s top 50 largest insurance companies, State Farm Mutual Automobile Insurance Co. continued to rank No. 1, according to research S&P Global Market Intelligence. State Farm recorded...
Posted: Oct 25, 2024
MONTGOMERY, Ala. (AP) — A judge has appointed a mediator in the long-running dispute over who gets licenses to grow and sell medical marijuana in Alabama. Montgomery Circuit Judge James Anderson named retired Circuit Judge Eugene Reese to act as R...
Posted: Oct 25, 2024
The owner of a Fresno, California-based for-profit vocational school was charged with engaging in fraudulent billing practices related to workers’ compensation. Paul Steve Ramirez, 59, was charged with 11 felony counts, including insurance frau...
Posted: Oct 25, 2024
The parents of a high school senior in Massachusetts argued in federal court in Boston on Tuesday that their son was unfairly punished for using artificial intelligence while researching a history project, harming his prospects for acceptance to an e...
Posted: Oct 25, 2024
After two weeks of number-crunching, it now seems clear that investors in catastrophe bonds emerged from Hurricane Milton relatively unscathed. In fact, holders of the bonds may be looking at returns of as much as 12%, according to Zurich-based asset...
Posted: Oct 25, 2024
Washington Insurance Commissioner Mike Kreidler issued fines totaling $302,500 against insurance companies, agents, brokers and unlicensed entities in July, August and September for violations of state insurance laws and regulations. Among those acti...
Posted: Oct 25, 2024