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In view of the firm’s very good capitalisation, the Executive Board of global reinsurer Hannover Re has decided to realign its dividend policy, set to take effect from the 2025 financial year. Under the new policy, the payout ratio for the r...
Posted: Oct 06, 2025
New behavioral study reveals injury severity, not company size, drives multimillion-dollar awards, Swiss Re reports. The post
Posted: Oct 06, 2025
Hedge funds speculating on wildfire insurance claims in California were just dealt a legal blow, after the state adopted new legislation designed to stifle such bets. Under the law, approved last month by California Governor Gavin Newsom, alternative...
Posted: Oct 06, 2025
Chaucer Group, the global specialty re/insurance group, announced the launch of Vanguard, a comprehensive cyber risk management and insurance solution designed to protect organizations in the face of an evolving threat landscape. This new primary bus...
Posted: Oct 06, 2025
Gallagher Re, a global reinsurance brokerage and risk advisory firm, has announced the appointment of Carl Axel Holtsmark as Head of Life, Accident & Health for the Nordics. In his new role, Holtsmark will lead the delivery of innovative reins...
Posted: Oct 06, 2025
In a recent interview with Reinsurance News, Greg Schiffer, CEO of North America Reinsurance at AXA XL Re, shared his perspectives on the sustainability of current market conditions in the region and what lies ahead. We spoke with Schiffer, who jo...
Posted: Oct 06, 2025
Russian warships have repeatedly sailed on collision courses, aimed weapons at Danish naval vessels and disrupted navigation systems in Denmark’s straits that connect the Baltic Sea to the North Sea, its defense intelligence service said on Fri...
Posted: Oct 06, 2025
Global specialty insurer and reinsurer SiriusPoint has agreed to sell its 49% equity stake in managing general agent (MGA), Arcadian Risk Capital, to Lee Equity Partners for total consideration of $139 million, inclusive of a pre-close dividend. A...
Posted: Oct 06, 2025
India’s government has begun early-stage talks with local insurers about designing a nationwide climate-linked insurance program aimed at simplifying the payout process after extreme weather events such as heatwaves and floods. The scheme would...
Posted: Oct 06, 2025
Analysts at KBW have suggested that very low catastrophe losses, reflecting the near-total absence of U.S.-landfalling hurricanes, together with the resulting strong EPS and BVPS growth, well-funded share repurchases, and larger expected 2026 prop...
Posted: Oct 06, 2025
Insurance Business Magazine - US
Posted: Oct 06, 2025
Malaysia’s financial services firm MBSB Bhd will provide MYR1.3 billion ($309 million) in funding to support the expansion of Weststar Aviation Services Sdn Bhd, the aviation arm of The Weststar Group, the Edge newspaper reported Friday, citing...
Posted: Oct 06, 2025
Following years of volatility, the commercial insurance market is entering a period of relative stability, with favourable conditions for buyers driven by abundant capital, advancing technology, and data-driven risk strategies, according to a rece...
Posted: Oct 06, 2025
Starwind Specialty Insurance Services, a CRC Group company, has launched a dedicated brand, Starwind Marine and Energy. As part of this initiative, Starwind Specialty will consolidate JH Blades, Southern Marine, and Energy Technical Underwriters (...
Posted: Oct 06, 2025
Miller, the independent specialist insurance and reinsurance broker, has announced the appointment of Nick Taylor as Head of Direct P&I. In his new role, Taylor will lead the development of Miller’s Direct P&I broking team, strengthening t...
Posted: Oct 06, 2025
With Don Bailey, Executive Vice President and Chief Executive Officer of North America Commercial Insurance at AIG, set to step down at year-end, the firm has announced a new North America leadership structure that will take effect on January 1, 2...
Posted: Oct 06, 2025
Balavant Insurance Group has announced two key leadership promotions: Tracy Bernard as Chief Program Officer of Balavant, and Krissy Kyjovsky to Executive Vice President of Tangram. In her new role, Bernard will be responsible for guiding product...
Posted: Oct 06, 2025
AM Best, the credit rating agency, reported that US property and casualty (P&C) mutual insurance companies achieved a net income of $26.0 billion in 2024, a notable rebound from a $10.8 billion net loss in 2023. AM Best evaluates the financial...
Posted: Oct 06, 2025
Kendra Kay loved growing up in the quiet of West Texas. She enjoyed the peacefulness brought in by the open lands. She appreciated how everyone in her community had a purpose and contributed to their way of life. She never …
Posted: Oct 06, 2025
Phinsys, a finance automation software provider for the insurance and reinsurance industry, has entered into a strategic partnership with Dynamo Analytics, a consultancy and software provider, to integrate finance and actuarial processes for insur...
Posted: Oct 06, 2025
Willis, a business of insurance and reinsurance broker WTW, has appointed Ollie Moore as Head of Broking, Pacific, effective immediately. In his new role, Moore will enhance Willis’ broking strategy, drive innovation, and strengthen partnerships w...
Posted: Oct 06, 2025
S&P Global Ratings, an international credit rating agency, has upgraded its outlook on Milli Reinsurans T.A.S. (Milli Re) to positive from stable, while reaffirming the company’s long-term issuer credit and insurer financial strength ratings a...
Posted: Oct 06, 2025
A Delaware judge said former Activision Blizzard officials including Chief Executive Bobby Kotick must face most of a lawsuit alleging they shortchanged shareholders when Microsoft bought the “Call of Duty” game maker for $75.4 billion. C...
Posted: Oct 06, 2025
Executives at large organizations are being extorted by a notorious ransomware group, which claims to have stolen data from them via Oracle Corp.’s popular E-Business Suite applications, according to a Google cybersecurity executive and three o...
Posted: Oct 06, 2025
After Paola Freites was allowed into the U.S. in 2024, she and her husband settled in Florida, drawn by warm temperatures, a large Latino community and the ease of finding employment and housing. They were among hundreds of thousands of …
Posted: Oct 06, 2025
A toxic cloud of chemicals was released from an industrial site near Cocoa Beach last week, but authorities said no one was seriously injured, and the leak has been repaired. Florida Today and other news outlets reported that about 10 …
Posted: Oct 06, 2025
Florida’s Citizens Property Insurance Corp. is deferring the required proof of flood insurance while the federal government shutdown continues and the National Flood Insurance Program is in limbo. “Citizens will accept applications and de...
Posted: Oct 06, 2025
Federal transportation safety officials told Philadelphia’s mass transit agency this week that it should shelve an aging electric railcar model that is heavily used in its regional rail fleet until it figures out how to stop them from catching...
Posted: Oct 06, 2025
More and more, big arrays of lithium-ion batteries are being hooked up to electrical grids around the U.S. to store power that can be discharged in times of high demand. But as more energy storage is added, residents in some …
Posted: Oct 06, 2025
Gov. Greg Abbott reappointed Brett Flagg to the Texas Mutual Insurance Company board of directors. Flagg’s term is set to expire on July 1, 2031. Flagg, of Frisco, is an attorney and the owner of Flagg Law Group PC. in …
Posted: Oct 06, 2025
President Donald Trump said Friday he has personally reversed $187 million in funding cuts made by his administration for New York’s law enforcement and counterterrorism operations, following bipartisan outcry from New York officials. The Repub...
Posted: Oct 06, 2025
Paul Singer’s Elliott Investment Management escalated a legal fight with a Texas-based private equity firm it has accused of charging excessive expenses. Stronghold Investment Management is being accused of improperly overcharging expenses to o...
Posted: Oct 06, 2025
Howden, the global insurance and reinsurance broking group, has announced the appointment of Christine Palomba as Deputy Head, Natural Resources, Howden US. The appointment follows Howden’s recent entry into the U.S. retail market, led by Mike Par...
Posted: Oct 06, 2025
American International Group (AIG) on Friday said its head of commercial insurance in North America is retiring at the end of the year to focus on his health. The insurer said three AIG employees have been promoted to lead the …
Posted: Oct 06, 2025
Pinnacol Assurance named Gabriel Lockhart its senior medical director. Dr. Lockhart joins Pinnacol after a career that includes serving as medical director of the ICU and quality improvement chairman at Saint Joseph Hospital. He is a board-certified...
Posted: Oct 06, 2025
Two Delta Air Lines regional jets collided at the intersection of two taxiways at LaGuardia Airport in New York, injuring a flight attendant, damaging a cockpit and tearing off part of a wing, the National Transportation Safety Board said Thursday. &...
Posted: Oct 06, 2025
The California Department of Insurance launched enforcement actions against Tesla Insurance Services Inc. and Tesla Insurance Company companies for allegedly failing to adequately handle hundreds of California automobile policy claims. The actions ar...
Posted: Oct 06, 2025
Insurance Business Magazine - US
Posted: Oct 05, 2025
Insurance Business Magazine - US
Posted: Oct 05, 2025
Hurricane Katrina made landfall on August 29, 2005, with the eye of the Category 3 hurricane centered on Bay St. Louis, Mississippi, though the storm is remembered largely because of the devastation to New Orleans, Louisiana. Over 1,800 people died &...
Posted: Oct 05, 2025
As mergers and acquisitions continue to reshape the insurance landscape, independent agency owners face increasingly complex decisions about financing growth. Among the most prominent capital sources are private equity (PE) and industry-focused bank...
Posted: Oct 05, 2025
By Don Jergler Being pleasant may not sound like it’s part of a recipe for success at a firm operating in a space where people survive and thrive by making sales, but it’s among the core philosophies at Kulchin Ross …
Posted: Oct 05, 2025
I recently read several articles marking the 20th anniversary of Hurricane Katrina. The articles covered a plethora of changes, including ISO form changes, the quality of claims serviced, the enormous financial cost, the unreal people cost, the impro...
Posted: Oct 05, 2025
By Chad Hemenway Michelle Sartain, president Marsh U.S. and Canada, who has worked at Marsh for more than 28 years, encouraged lawmakers on Capitol Hill last month to reauthorize the Terrorism Risk Insurance Act. More than two decades after Marsh ...
Posted: Oct 05, 2025
Homeowners’ insurance rates are rising at a pace not seen in more than a decade, so more customers are asking why they should stay loyal if they perceive their insurer isn’t reciprocating. According to a recent survey from J.D. Power, ...
Posted: Oct 05, 2025