All Posts
Insurance Business Magazine - US
Posted: Aug 02, 2024
The latest people news in the industry today. The post Ryan Watkins Promoted to Regional CEO of Upper Mid...
Posted: Aug 02, 2024
The latest people news in the industry today. The post Joseph Madigan...
Posted: Aug 02, 2024
The latest people news in the industry today. The post Lucy Clarke Joins WTW as President of Risk & Broking appeared first on...
Posted: Aug 02, 2024
The latest people news in the industry today. The post Julie Haase Appointed as...
Posted: Aug 02, 2024
Ambac Financial Group said it has completed the acquisition of a 60% controlling stake in London-based Beat Capital Partners for about $282 million, up to $40 million of which will be paid in shares of Ambac common stock. The deal …
Posted: Aug 02, 2024
Former reality TV star Fredrik Eklund zips up and down Miami in a lilac Rolls-Royce with a turquoise interior, hunting for multi-million-dollar homes for the rich and powerful. That is, when he’s not stuck in the gridlock. Eklund, 47, is …...
Posted: Aug 02, 2024
Cayman Islands-domiciled reinsurer Bay Harbor Re has recently announced the appointment of Mark LaManna as Senior Vice President (SVP) of Casualty Underwriting. LaManna brings 35 years of industry experience to his new role, with expertise in casu...
Posted: Aug 02, 2024
The National Hurricane Center is keeping an eye on a tropical wave that could strengthen over the weekend, bringing heavy rain to parts of Florida. Gov. Ron DeSantis declared a state of emergency for 50 Florida counties ahead of the …
Posted: Aug 02, 2024
InsurTech wefox has successfully completed two transactions to exit the German insurance market, aligning with the company’s strategy to focus on profitable market positions of critical size If you recall, wefox’s plans to exit the Ger...
Posted: Aug 02, 2024
Firefighters have increased containment on the Park Fire near Chico, California, which at 621 square miles as of Friday is now the fourth largest wildfire in history. The fire, which covers parts of four counties—Butte, Plumas, Shasta and Tehama—has...
Posted: Aug 02, 2024
Ryan Specialty, a publicly traded provider of specialty products for insurance agents, brokers and carriers, has agreed to buy US Assure Insurance Services of Florida, a company specializing in builder’s risk insurance. Based in Jacksonville an...
Posted: Aug 02, 2024
Marsh McLennan Agency, a business of Marsh and a leading provider of business insurance, employee health & benefits, retirement & wealth, and private client insurance solutions across North America, today announced the completion of its previ...
Posted: Aug 02, 2024
Ambac Financial Group has completed its acquisition of Beat Capital Partners, a London-based insurance underwriting and managing general agency (MGA) incubation platform. The acquisition follows an announcement on June 5, 2024, where Ambac disclos...
Posted: Aug 02, 2024
A scuba dive boat captain was ordered to pay about $32,000 in restitution to the families of three of the 34 people killed in a fire aboard the vessel in 2019. Jerry Boylan’s criminal negligence as captain of the Conception …
Posted: Aug 02, 2024
Johnson & Johnson, a managing general agency working in 48 states, has acquired Strickland General Agency in Suwanee, Georgia, J&J announced. The deal closed July 31. Terms were not disclosed. Strickland, known as SGA, is a multi-line excess...
Posted: Aug 02, 2024
Insured losses from wildfires are mounting due to increased activity in Canada and the US, with 574 active fires in Canada and 95 in the US as of August 1, according to Aon’s weekly catastrophe report. In Canada, the wildfire in Jasper National Pa...
Posted: Aug 02, 2024
Experts Say More Collaboration Needed for Critical Infrastructure Cyber Risk Insurers continue to grappl...
Posted: Aug 02, 2024
Due to the limited amount of impacted companies with insurance and the deployment of a quick fix to mitigate losses, Guy Carpenter said the insured losses from the CrowdStrike outage is likely between $300 million and $1 billion. The leading …
Posted: Aug 02, 2024
Due to the limited amount of impacted companies with insurance and the deployment of a quick fix to mitigate losses, Guy Carpenter said the insured losses from the CrowdStrike outage is likely between $300 million and $1 billion. The leading …
Posted: Aug 02, 2024
DeCotis Specialty Insurance, headquartered in Providence, Rhode Island, named Jessica Wrigley as director of commercial lines. Wrigley’s responsibilities include overseeing the commercial lines division, managing key customer and carrier relati...
Posted: Aug 02, 2024
MDS Brazil, a subsidiary of the Ardonagh-owned MDS Group, has finalised the acquisition of D’Or Consultoria, a broker with expertise in health, dental, life insurance, and pensions, which is part of Rede D’Or São Luiz S.A. This acquisition signifi...
Posted: Aug 02, 2024
When Michigan farmer Clara Ostrander heard about the benefits of hosting a solar energy project, she remembered something her father had told her four days before he died: Don’t sell the farm. Keep it in the family. Skeptical at first, …
Posted: Aug 02, 2024
Vermont’s governor said Wednesday that the latest storms to hit the state have undone much of the cleanup and recovery work from its last major bout of flooding only weeks ago, and he called on residents to “stick together” amid ...
Posted: Aug 02, 2024
AI music startup Suno is pushing back against the world’s biggest record labels, saying in a court filing that a lawsuit they filed against the company aims to stifle competition. In a filing Thursday in federal court in Massachusetts, Suno ...
Posted: Aug 02, 2024
Chevron Corp. is relocating headquarters to Houston from California after repeatedly warning that the Golden State’s regulatory regime was making it a tough place to do business. The move announced Friday will end the company’s more than...
Posted: Aug 02, 2024
Specialty insurance provider Trisura Group has announced its financial results for the second quarter of 2024, reporting a net income of $27.1 million, which according to the firm, is comparable to Q2 2023’s $26.8 million, which included cer...
Posted: Aug 02, 2024
Orion180 has announced its expansion into the Buckeye State. According to a press release, the company now offers homeowners insurance services and coverage in Ohio through Orion Select Insurance Co., Orion180’s admitted insurance carrier. Orio...
Posted: Aug 02, 2024
AM Best has upgraded the Financial Strength Rating of Skyward Specialty Insurance Group’s subsidiary insurance companies from “A-” to “A” (Excellent) rating with a stable outlook. Skyward Specialty’s members Long-Term Issuer Credit Ratings (Long-T...
Posted: Aug 02, 2024
International specialty insurance firm, Ryan Specialty Holdings, Inc. has reported a Q2 2024 total revenue growth of 18.8% year-over-year to $695.4 million compared to last year’s $585.1 million. According to Ryan Specialty, this increase was prim...
Posted: Aug 02, 2024
AIA Group Ltd. was subject to a record fine of HK$23 million ($2.9 million) by the Insurance Authority for anti-money laundering oversight, as the city’s regulators steps up scrutiny of the industry. An on-site inspection by the regulator found...
Posted: Aug 02, 2024
West P&I Club, an insurance provider to the global maritime and offshore industries, has announced plans to open to a new regional office in Dubai, set to be led by Captain Gagan Dhillon, who has been recruited as CEO (Dubai). With this, West...
Posted: Aug 02, 2024
In their results for the second quarter of 2024, SiriusPoint’s combined ratio deteriorated six points year on year to 89%, compared to the previous year’s 83%, driven primarily by lower favorable prior year loss reserve development. Th...
Posted: Aug 02, 2024
In Q2 2024, Reinsurance Group of America (RGA), a global life and health reinsurer, reported a 17.5% year-over-year increase in consolidated net premiums, reaching $3.9 billion compared to $3.3 billion in the previous year. Consolidated net premiu...
Posted: Aug 02, 2024
Tesla registered an insurance broking firm in China at the end of July, based on a national corporate information database, in a sign that the U.S. automaker may be trying again to gain approval to sell insurance products in the …
Posted: Aug 02, 2024
Ryan Specialty, an international specialty insurance intermediary, has announced a definitive agreement to acquire US Assure Insurance Services of Florida, Inc., a Jacksonville-based specialist in builder’s risk insurance that will be integr...
Posted: Aug 02, 2024
This post is part of a series sponsored by PCF Insurance Services. PCF VP of Operations Benefits, Kirk Benson, teamed up with Joey Mattingly, Vice Chair of Research at the University of Utah College of Pharmacy, to discuss the impact …
Posted: Aug 02, 2024
AXA XL and U.S. Marine Insurance Group (US MIG) have entered into an underwriting agreement to expand its Inland Marine insurance offerings in the supply chain and transportation sectors. Founded in 2015, U.S. Marine Insurance Group is an underwri...
Posted: Aug 02, 2024
Insured losses from the CrowdStrike-linked global IT outage will fall between $300 million and $1 billion, as per a new report from Guy Carpenter. For those unaware, On July 19, CrowdStrike, a leading cybersecurity technology provider, released a...
Posted: Aug 02, 2024
Posted: Aug 02, 2024