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The Fidelis Partnership, previously known as Fidelis MGU, has recently appointed Douglas Somerville as its new Head of Capacity and Ceded Reinsurance. Somerville brings 14 years of industry experience to his new role, offering a wealth of expertis...
Posted: Apr 22, 2024
Thousands of parents in Singapore are furious, with some now pursuing legal action, after a major operator of cord blood banks in Asia irreparably damaged their children’s samples through improper handling. The ongoing case, one of the worst to...
Posted: Apr 22, 2024
The European Union endured its joint-hottest year on record in 2023, according to new scientific analysis, pointing to a more perilous future for what is already the world’s fastest-warming continent. Europe experienced its largest wildfire on...
Posted: Apr 22, 2024
A Redfin survey has found that nearly three-quarters (70.3%) of Florida homeowners and over half (51%) of California homeowners have seen a rise in insurance costs or change in coverage in the past year. The survey was fielded to 2,995 homeowners...
Posted: Apr 22, 2024
Insurance Business Magazine - US
Posted: Apr 22, 2024
Insurance Business Magazine - US
Posted: Apr 22, 2024
McElroy joined AIG in 2018 as President and CEO of Lexington Insurance Company.
Posted: Apr 22, 2024
Jensten closed out 2023 having completed a total of 12 strategic acquisitions.
Posted: Apr 22, 2024
A group of FTX investors and customers has agreed to drop their claims against co-founder Sam Bankman-Fried in exchange for his cooperation against other defendants in a sprawling set of lawsuits over the cryptocurrency exchange’s collapse. The...
Posted: Apr 22, 2024
French insurer and reinsurer SCOR has made Lily Song, previously the Chief Underwriting Officer (CUO) of China Reinsurance, the new Head of Property and Casualty (P&C) for China. Song took on her new Beijing, China based role in April 2024, ha...
Posted: Apr 22, 2024
The Vermont Mutual board of directors named Mark J. McDonnell president of Vermont Mutual Insurance Group. McDonnell is the 18th president, succeeding former president and current CEO Daniel C. Bridge, who will retire at the end of 2024. McDonnell jo...
Posted: Apr 22, 2024
CHATTANOOGA, Tenn. (AP) — Employees at a Volkswagen factory in Chattanooga, Tennessee, overwhelmingly voted to join the United Auto Workers union Friday in a historic first test of the UAW’s renewed effort to organize nonunion factories. The un...
Posted: Apr 22, 2024
Re/insurance broker Arthur J. Gallagher & Co. has announced the acquisition of Louisiana-based Fontenelle & Goodreau Insurance, LLC. in an undisclosed transaction. Fontenelle & Goodreau Insurance offers commercial property & casual...
Posted: Apr 22, 2024
Going, Going, Gone: ‘Disruption’ to Shrink Premiums for Auto...
Posted: Apr 22, 2024
Global Insured Natural Disaster Claims Again Dominated by Severe U.S. Storms: Gallagh...
Posted: Apr 22, 2024
New York’s attorney general has urged the state judge overseeing the state’s civil fraud case against Donald Trump to reject the former president’s $175 million appeal bond. Attorney General Letitia James objects to Knight Specialty...
Posted: Apr 22, 2024
New York’s attorney general has urged the state judge overseeing the state’s civil fraud case against Donald Trump to reject the former president’s $175 million appeal bond. Attorney General Letitia James objects to Knight Specialty...
Posted: Apr 22, 2024
Mulberri, an AI-driven insurance platform, and Acronis, a provider of cyber security and data protection solutions, have partnered to provide cyber insurance to US-based small & medium-sized businesses customers. Through this partnership, Acro...
Posted: Apr 22, 2024
Wells Fargo was accused of sex discrimination in a lawsuit by a bond saleswoman who said the fourth-largest U.S. bank denied pay and promotions available to men and tolerated an “unapologetically sexist” workplace. The complaint filed on...
Posted: Apr 22, 2024
American International Group, Inc. (AIG), a global insurer, has announced that David McElroy will retire from the group effective May 1st, 2024. The company has confirmed that McElroy and AIG have agreed to accelerate his retirement date for perso...
Posted: Apr 22, 2024
A third temporary channel for boats to enter and depart the Port of Baltimore has opened, expanding further shipping access as collapsed sections of the Francis Scott Key Bridge are salvaged before the span can ultimately be rebuilt. The alternate &#...
Posted: Apr 22, 2024
American International Group (AIG) today announced a top executive will retire in less than two weeks. David McElroy will retire from AIG on May 1. “Mr. McElroy has agreed with AIG to accelerate his retirement date for personal reasons and R...
Posted: Apr 22, 2024
Global insurance and reinsurance brokerage Aon has announced the appointment of David Hogg as the new Regional Managing Director, Europe, Middle East, and Africa (EMEA), for Captive and Insurance Management. Hogg, who has 32 years of experience in...
Posted: Apr 22, 2024
The strong pricing environment for most business lines written in the London insurance market is expected to support good underwriting profitability – factors that have led AM Best to revise its outlook for the segment to positive from stable. Furthe...
Posted: Apr 22, 2024
The city of Philadelphia has reached a $110 million settlement of its 2021 lawsuit against Walgreens pharmacy for the company’s role in supplying and perpetuating the opioid addiction crisis in Philadelphia. Under the terms of the agreement, Wa...
Posted: Apr 22, 2024
Swiss Re has introduced an upgraded version of Life Guide, now featuring Swiss Re Life Guide Scout, a Generative AI-powered underwriting assistant aimed at enhancing efficiency and quality in underwriting. Life Guide, Swiss Re’s manual for Life &#...
Posted: Apr 22, 2024
French insurer Groupama has posted it’s annual results for 2023, which includes a net income of €510 million, and a economic operating income of €627 million, despite an elevated climate-related claims charge (€1.3 billion before reinsurance...
Posted: Apr 22, 2024
MNK Group, through its holding company Specialty Management UK, is strengthening and expanding its re/insurance businesses in Central America and the LatAm region with the acquisition of Oceánica de Seguros S.A., an insurer based in Costa Rica. Wi...
Posted: Apr 22, 2024
PERILS, the Zurich-based catastrophe insurance data provider, has disclosed its third industry loss estimate for the floods and storms caused by low-pressure systems Babet (Viktor) and Aline (Wolfgang) over the British Isles and northwestern Europ...
Posted: Apr 22, 2024
More than 70% of the global workforce is exposed to risks linked to climate change that cause hundreds of thousands of deaths each year, the International Labour Organization said on Monday, adding governments would need to act as the numbers …
Posted: Apr 22, 2024
Echo Reinsurance Limited (Echo Re), a Swiss-based reinsurer, has recently appointed Pablo Andres Lugo Iparraguirre as its new Senior Underwriter for Latin America (LatAm) & Caribbean. Bringing over 18 years of underwriting experience, particul...
Posted: Apr 22, 2024
Global credit rating agency AM Best has placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of the members of GeoVera Insu...
Posted: Apr 22, 2024
Commercial property insurer FM Global has appointed Malcolm C. Roberts, the firm’s current President and Chief Executive Officer (CEO), as Chair of the company’s Board of Directors. The appointment is effective immediately, with Robert...
Posted: Apr 22, 2024
Rating agency AM Best has revised its outlook for the London market insurance segment to positive from stable, driven by an expected strong pricing environment for most business lines to support good underwriting profitability. AM Best also highli...
Posted: Apr 22, 2024
Posted: Apr 22, 2024
SSP Broker has appointed Christian Wright as its new Head of Market Development, where he will drive the company’s future growth plans. In his new role, Wright will focus on strengthening relationships with brokers, ensuring they have optima...
Posted: Apr 22, 2024