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Chubb today said it has made several executive leadership changes in its North American general insurance business, with John Lupica becoming executive chairman. Lupica was vice chairman of Chubb Group and president of North American insurance. In hi...
Posted: Jul 09, 2024
This post is part of a series sponsored by PCF Insurance Services. The transportation industry is filled with risks. Unexpected events can lead to costly legal outcomes called “nuclear verdicts.” These are lawsuit damages that often excee...
Posted: Jul 09, 2024
Global insurer QBE has announced that Davide Anselmo is joining from CNA Hardy as its new general manager for Italy, based in Milan, subject to regulatory approval. Anselmo takes over from Angela Rebecchi, who will be retiring this summer after le...
Posted: Jul 09, 2024
Greek authorities evacuated a hospital after a wildfire broke out in Patra, the country’s third-biggest city. Firefighters, assisted by planes and helicopters, safely evacuated a hospital and a nursing home, state-run ERT TV reported. The fire...
Posted: Jul 09, 2024
French reinsurer CCR Re has seen significant growth in its ESG asset portfolio, which has increased by 20% since 2022, reaching over €1 billion out of €3.6 billion in Assets Under Management (AUM). In its 2023 ESG Report, CCR Re attributes this ro...
Posted: Jul 09, 2024
High Named EVP of Evaluation Services; Marentette VP of Payer Services Independent insurance broker The IMA Group, headquartered in Tarrytown, New York, named Matt High as executive vice president of evaluation services operations and Elijah Marentet...
Posted: Jul 09, 2024
Less people died in traffic accidents during the first three months of 2024, compared to the same time the prior year. The quarter looks to be the eighth in a row for a decline in traffic fatalities, dating back to …
Posted: Jul 09, 2024
This edition of International People Moves details appointments at SiriusPoint and Everest Insurance. A summary of these new hires follows here. SiriusPoint International Managing Agency Names Castel’s Williams as Chief Risk Officer SiriusPoint...
Posted: Jul 09, 2024
Everest Insurance, the insurance arm of Bermuda-based re/insurer Everest Group, has promoted Harry Townsend to Chief Ceded Reinsurance Officer, leading the Ceded Re strategy for the global division. Townsend joined Everest in January 2024 as Head...
Posted: Jul 09, 2024
Private self-insured claim volume in the California workers’ compensation system fell 9.5% in 2023, the biggest year-to-year decline in private self-insured claim frequency in more than 15 years. However, double-digit increases in the average a...
Posted: Jul 09, 2024
Two years after the U.S. Forest Service sparked what would become the largest and most destructive wildfire in New Mexico’s recorded history, independent investigators say there are gaps that need to be addressed if the agency is to be successf...
Posted: Jul 09, 2024
Jamaica’s Minister of Finance, Dr. Nigel Clarke, has revealed that the country’s Tropical Cyclone policy with the Caribbean Catastrophe Risk Insurance Facility (CCRIF) has been triggered by Beryl, with a payment amount of $16.3 million...
Posted: Jul 09, 2024
Commercial Lines Not at Top of Cycle; ‘Thie...
Posted: Jul 09, 2024
Former USAA CEO Robles, 78, Dies Former USAA chief executive officer Josue "Joe" Robles Jr., 78, died Jul...
Posted: Jul 09, 2024
Reinsurers’ Appetite Grows During Mid-Year Renewals but Discipline Rem...
Posted: Jul 09, 2024
The Battle Over J&J’s Bankruptcy Plan to End Talc Lawsuits Eron Evans died in...
Posted: Jul 09, 2024
CRC Group, a wholesale specialty distributor with operations across North America, announced new additions to its Tampa team. Craig Anderson, who has been in the insurance business for more than 25 years, is now an underwriting team leader for marine...
Posted: Jul 09, 2024
WTW, the advisory, broking, and solutions company, has introduced “IMI Plus,” an enhanced investment management insurance solution designed to meet the needs of all kinds of asset managers, including wealth managers, hedge funds, private...
Posted: Jul 09, 2024
UK fintech Ripe has announced the appointment of Jamie Richards as Head of Mergers and Acquisitions (M&A). Tasked with leading Ripe’s Acquisitions strategy, his appointment is to help the company to further expand the business through targeted...
Posted: Jul 09, 2024
The bankrupt estate of Purdue Pharma says it will support a move by the opioid maker’s creditors to sue members of the Sackler family over allegations that they improperly shifted billions of dollars of Purdue profits into offshore trusts. The...
Posted: Jul 09, 2024
A Russian court has ordered Volkswagen to pay 16.9 billion roubles ($193 million) in damages to Russian carmaker GAZ Group, which had sued the German automaker over lost profits after Volkswagen exited the Russian market. In May 2023, Volkswagen fina...
Posted: Jul 09, 2024
Insurance Business Magazine - US
Posted: Jul 09, 2024
Commercial real estate (CRE) remains a large exposure for US life insurers, which hold over $900 billion in CRE, or roughly 17% of total invested assets, mostly in commercial mortgage loans (CMLs) and commercial mortgage backed securities (CMBS),...
Posted: Jul 09, 2024
Davies, a specialist in professional services and technology, has appointed Amber Wilkinson as its new Group Chief Financial Officer (CFO). Currently serving as CFO at global law firm DLA Piper since 2021, Wilkinson brings extensive experience fro...
Posted: Jul 09, 2024
Much of Houston remained without power in Tropical Storm Beryl’s wake, and authorities warned the blackout could last days even as heat builds across the battered region. Beryl left the nation’s fourth-largest city a morass of flooded str...
Posted: Jul 09, 2024
A slight overall rise in commercial property/casualty insurance rates reflects insurers' confidence in pricing strategies, according to MarketScout. The post
Posted: Jul 09, 2024
Specialist Risk Group (SRG), the insurance intermediary, has acquired the ongoing business of Carriagehouse. Established over three decades ago, Carriagehouse plays a key role in supporting the equestrian industry by providing a wide range of spec...
Posted: Jul 09, 2024
Europe’s financial markets watchdog said companies shouldn’t anticipate that the complexity of new ESG reporting requirements will excuse sloppy disclosures. The European Securities and Markets Authority acknowledged that complying with t...
Posted: Jul 09, 2024
Earth’s more than year-long streak of record-shattering hot months kept on simmering through June, according to the European climate service Copernicus. There’s hope that the planet will soon see an end to the record-setting part of the h...
Posted: Jul 09, 2024
Global specialty re/insurer SiriusPoint has appointed Anthony Williams as Chief Risk Officer for SiriusPoint International Managing Agency (SIMA) and its International business, effective August 19, 2024. Williams joins SiriusPoint with over two d...
Posted: Jul 09, 2024
When ranked by gross premiums written (GPW) in 2022, global insurer AXA tops the list of the largest European insurance companies with US$106.1 billion. AXA also recorded $42.3 billion in capital & surplus from the same year. Based on data fro...
Posted: Jul 09, 2024
The founder and CEO of vQuip shares how this specialty insurance company is targeting outdoor experience rental equipment, like jet skis or snowmobiles, and what it means for them to be an "insurance chameleon." The post
Posted: Jul 09, 2024
As per a new report from EY, the number of publicly disclosed M&A deals in the UK insurance industry increased from 54 in H1 2023 to 94 in H1 2024, while the overall disclosed deal value climbed from £400 million to £900 million. This informat...
Posted: Jul 09, 2024
Insurance Advisory Partners (IAP), a specialised investment bank in insurance and the insurtech industry, has appointed Johan Slabbert as a Senior Advisor, based in London. Slabbert is an industry veteran with over 27 years of experience, having w...
Posted: Jul 09, 2024
AXA XL has announced several new appointments in its Large Commercial business unit and on its Client and Distribution team, which comes following the recent reorganisation of its Americas insurance operation. Donnacha Smyth has been appointed Chi...
Posted: Jul 09, 2024
Finish insurer Sampo has obtained all the necessary regulatory approvals for the exchange offer to the shareholders of P&C insurer Topdanmark. Back in June Sampo announced its intentions to acquire all of the outstanding shares in Topdanmark n...
Posted: Jul 09, 2024
This post is part of a series sponsored by IAT Insurance Group. This episode covers continuing and emerging challenges contractors face in construction and how to safeguard projects amidst volatility. This episode features IAT Surety’s AVP of H...
Posted: Jul 09, 2024
Lockton Re, the reinsurance arm of the independent insurance broker, has announced that Aldo Mendieta will be joining the firm next month in Mexico City as part of Lockton México Intermediario de Reaseguro, S.A. de C.V. Mendieta is joining the fir...
Posted: Jul 09, 2024
Lloyd’s, the global insurance and reinsurance marketplace, has announced the members of the Inclusive Futures Coalition, which targets meaningful and lasting change by enabling Black and ethnically diverse individuals to participate and progress f...
Posted: Jul 09, 2024