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Oxbridge Re Holdings Limited, a Cayman Islands-based reinsurance company, reported a net loss of $821,000 for the second quarter of 2024, significantly larger than the net loss of $85,000 in Q2 2023, driven primarily by a negative change in the fa...
Posted: Aug 09, 2024
Florida-based insurtech HCI Group has posted its results for the second quarter of 2024, which includes a net income of $57.1 million and a pre-tax income of $76 million, a solid increase compared to the prior year’s $14.9 million and $20.2...
Posted: Aug 09, 2024
Delta Air Lines said on Thursday it is pursuing legal claims against CrowdStrike and Microsoft after a global outage last month caused mass flight cancellations, disrupting travel plans of 1.3 million customers and costing it at least $500 million. A...
Posted: Aug 09, 2024
Australian insurer QBE has entered into a reserve transaction with RiverStone International and Enstar, that will de‑risk its exposure to reserves totalling approximately $1.6 billion, effective July 1st, 2024. The transactions are expected to clo...
Posted: Aug 09, 2024
Generali has reported its financial results for the first half of 2024, revealing a significant increase in gross written premiums (GWP), to €50.1 billion from the €42.2 billion seen in H1 2023, driven by substantial growth in both the Life and P&...
Posted: Aug 09, 2024
Sompo International’s commercial P&C business has reported an underwriting income of $127.4 million for Q1 of the 2024 financial year, down from $155.3 million in the same period of 2023, while its combined ratio increased 1.7 points to...
Posted: Aug 09, 2024
Last year marked the fourth consecutive year in which global insured natural catastrophe losses exceeded $100 billion, however, reinsurers largely avoided significant impacts due to strategic positioning, according to S&P Global Ratings. In 20...
Posted: Aug 09, 2024
Australian insurer QBE has reported a statutory net profit after tax of $802 million for the first half of 2024, compared with $400 million last year, as the combined ratio improved to 93.8% from 98.8% on the back of lower catastrophe costs, more...
Posted: Aug 09, 2024
Australia’s QBE Insurance Group on Friday reported a more than twofold jump in its first-half profit, boosted by higher income from premiums, but missed analysts’ view, sending its shares to over a six month low. The company’s gross...
Posted: Aug 09, 2024
Australia’s QBE Insurance Group on Friday reported a more than twofold jump in its first-half profit, boosted by higher income from premiums, but missed analysts’ view, sending its shares to over a six month low. The company’s gross...
Posted: Aug 09, 2024
Zurich headquartered global reinsurer MS Reinsurance (MS Re) has reported a 305% rise in net income to $81 million for the first quarter of the fiscal year, as the combined ratio improved to 89.7% from 94.2% a year earlier. MS Re is part of global...
Posted: Aug 09, 2024
Hong Kong is seeing an influx of professionals from mainland China’s finance and tech sectors who are disillusioned with their career and salary prospects across the border. Many are trying to make a living and stay in the city by …
Posted: Aug 09, 2024
Home insurance firm Hippo has announced its financial results for the second quarter of 2024 reporting revenue growth of 88% year over year (YoY), with premium retention more in-line with risk-retention. At $90 million, up from $48 million in Q2 2...
Posted: Aug 09, 2024
As per a new report from Gallagher Re, Hurricane Debby will remain a “very manageable” event for the re/insurance industry, with combined wind and water-related insured losses from the private insurance market and National Flood Insura...
Posted: Aug 09, 2024
One of global insurer Enstar Group Limited’s wholly-owned subsidiaries has agreed to provide a ground-up Loss Portfolio Transfer (LPT) with certain subsidiaries of QBE Insurance Group Limited (QBE), covering a diversified portfolio of US commercia...
Posted: Aug 09, 2024
Assured Guaranty Inc. (AG), a company that offers financial guarantees and credit enhancement products, has completed the merger of Assured Guaranty Municipal Corp. (AGM), with AG as the surviving company. The merger was initially announced on Jul...
Posted: Aug 09, 2024
Insurer’s Lack of Repairs Caused Woman’s Death After Ian: Florida Lawsuit Just as another hurricane hit...
Posted: Aug 09, 2024
Rockford Mutual Insurance Company has chosen Sapiens ReinsurancePro to fully automate its reinsurance management processes, aiming to enhance efficiency and reduce costly claims leakage. Sapiens ReinsurancePro streamlines the underwriting and admi...
Posted: Aug 09, 2024
The Everen Group, a consortium of energy insurance companies, has appointed Robert Foskey as its new President and Chief Executive Officer, effective August 5, 2024. Foskey brings extensive experience and a successful history with the Everen Group...
Posted: Aug 09, 2024
Bondaval, a provider of technology-enabled credit insurance solutions, has announced the appointment of Paul Collier as Group Vice President of Risk Underwriting. In his new role, Collier will lead all risk underwriting activity and assist in sett...
Posted: Aug 09, 2024
Despite the dangers and expense associated with living in high-risk areas, large numbers of people are still moving to parts of America most impacted by wildfires, flooding and extreme heat. According to a new report from real estate company Redfin,...
Posted: Aug 09, 2024
Alliant Insurance Services, a distributor of insurance products around the U.S., has named Sean Bisig vice president and producer in its employee benefits group. He will continue to be based in Charlotte, North Carolina. Bisig spent 18 years with Uni...
Posted: Aug 09, 2024
IMA Financial Group, a large brokerage specializing in wealth management and risk advice, is moving into the Florida commercial property insurance market with the acquisition of Wallace Welch & Willingham Inc. WW&W, based in the St. Petersbur...
Posted: Aug 09, 2024
Pro Pallet, LLC, a Pennsylvania-based construction company, will pay $50,000 and furnish other relief to settle a retaliation lawsuit filed by the Equal Employment Opportunity Commission (EEOC). According to the EEOC’s lawsuit, a human resource...
Posted: Aug 09, 2024
A Vermont judge has denied the city of Burlington’s request to dismiss a lawsuit alleging that police used excessive force and discriminated against a Black teenager whose mother had called law enforcement to teach him a lesson about stealing....
Posted: Aug 09, 2024
In their results for the second quarter of 2024, Kemper Corporation has posted a net income of $75.4 million, a major improvement compared to a net loss of $97.1 million from the second quarter of 2023. Kemper’s total revenues for Q2’2...
Posted: Aug 09, 2024
The third trial over claims that discontinued heartburn drug Zantac ended in a mistrial on Wednesday when jurors could not agree about whether pharmaceutical company Boehringer Ingelheim was responsible for an Illinois man’s cancer. Martin Gros...
Posted: Aug 09, 2024
Alliant Insurance Services named Travis Davis a senior vice president within its Alliant Americas division. Davis is based in Bend, Oregon. Davis has a decade of experience in the insurance industry, supplemented by tenure as an engineer and project...
Posted: Aug 09, 2024
For the first time in roughly 40 years, the Environmental Protection Agency used its emergency authority to halt the sale of a weed-killing pesticide that harms the development of unborn babies. Officials took the rare step because the pesticide DCPA...
Posted: Aug 09, 2024
The number of workers’ compensation claims for student-on-school-employee assault dropped significantly during the 2023-24 school year, according to data from Gallagher Basset. This change comes after two years of increasing claims following th...
Posted: Aug 09, 2024
The New Hampshire Supreme Court has reversed the conviction of a former police chief who was accused of violating sexual harassment policies following a call he made to a female employee, saying a judge misinterpreted the law. In a 3-1 …
Posted: Aug 09, 2024
Hub International Ltd. acquired the assets of SCIC LLC (Southern Colorado Insurance) in Colorado Springs, Colorado. Debbie Klisch, owner, and Andrew Klisch, president, and the Southern Colorado Insurance team will join Hub Colorado. Southern Colorado...
Posted: Aug 09, 2024
Insurance Business Magazine - US
Posted: Aug 08, 2024
After trees fell on an insured's roof during a windstorm, the carrier is limiting payment to remove the trees from the roof to the $1,000 sublimit under Section 1—Additional Property Coverages for Debris Removal.
Posted: Aug 08, 2024
IIR talks with CEO Tim Fleming about the range of solutions TMG offers, from capital to technology, to improve the underwriting success of its member companies.
Posted: Aug 08, 2024
The outage highlights the need for insurers to evaluate their technology risk and have a robust recovery plan.
Posted: Aug 08, 2024
Nayya publicly disclosed $105 million in funding.
Posted: Aug 08, 2024
California Insurance Commissioner Ricardo Lara issued a one-year moratorium on insurance companies to preserve residential insurance coverage for more than 185,000 policyholders affected by the Park, Borel and Gold Complex fires. The moratorium shiel...
Posted: Aug 08, 2024
Tech Bytes: New Partnerships at Bold Penguin, Cover Genius, Insurwave Digit...
Posted: Aug 08, 2024
Vitesse Secures $93M in Series C Funding Led by KKR Vitesse, a...
Posted: Aug 08, 2024
Sure, the insurance technology leader that unlocks the potential of digital insurance, today announced it has been featured on CNBC’s list of the World’s Top Insurtech Companies.
Posted: Aug 08, 2024