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Insurance Business Magazine - US
Posted: Apr 25, 2025
Transformational mega-deals reshape industry landscape as transaction volume increases 5% over previous year, Marsh Berry reports. The post
Posted: Apr 25, 2025
Rockford Mutual Insurance Company (RMIC), headquartered in Rockford, Illinois, appointed Levi Dutcher as marketing representative for the states of Indiana and Michigan. Dutcher, based in Grand Rapids, Michigan, most recently served as senior field t...
Posted: Apr 25, 2025
MONTGOMERY, Ala. (AP) — Alabama lawmakers advanced legislation last week that would allow local law enforcement to enforce immigration law, as conservative legislators push for increased alignment with the federal government’s crackdown on immi...
Posted: Apr 25, 2025
A middle schooler in the Dallas-Fort Worth area has tested positive for measles, the first known case in the urban area, a health official from Collin County confirmed. The young person is located in Lucas, about 30 miles north of …
Posted: Apr 25, 2025
The Louisiana Department of Insurance (LDI) said it has successfully completed the requirements and earned full national accreditation from the National Association of Insurance Commissioners (NAIC) for its work to promote effective financial solvenc...
Posted: Apr 25, 2025
The latest people news in the industry today. The post Liberty Mutual Insurance Names Dieter Korte Presiden...
Posted: Apr 25, 2025
Georgia Insurance Commissioner John King predicted property-casualty insurance rates will drop 3% to 5% in the next year after lawmakers approved significant tort reform measures. He also seemed to warn insurance companies about filing for major incr...
Posted: Apr 25, 2025
The company that owned the railcar that caused the devastating East Palestine train derailment in 2023 won’t have to help pay for the $600 million settlement Norfolk Southern agreed to with residents. An Ohio jury decided Wednesday that GATX is...
Posted: Apr 25, 2025
The latest people news in the industry today. The post Berkshire Hathaway Specialty Insurance Promotes Jeff...
Posted: Apr 25, 2025
While tariff-induced inflationary factors impacting property insurance are expected to affect property reinsurance as well, Morningstar DBRS analysts have suggested reinsurers will only see a mild impact due to their diverse global operations and...
Posted: Apr 25, 2025
A federal judge on Wednesday found the state of North Dakota entitled to nearly $28 million for responding to protests of the Dakota Access oil pipeline in 2016 and 2017 — a win for the state in its multiyear effort …
Posted: Apr 25, 2025
The latest people news in the industry today. The post AIG Names Ray Hall Head of Western World appeared first on Ri...
Posted: Apr 25, 2025
The latest people news in the industry today. The post Konstantinos Papapetridis Appointed Regional Ma...
Posted: Apr 25, 2025
Chemicals used in flea and tick treatments have been linked to the premature deaths and destruction of eggs and hatchlings in wild bird nests. The post
Posted: Apr 25, 2025
Echo Reinsurance Limited (Echo Re), a Swiss-based reinsurer, reported gross written premiums of $482 million in its full-year 2024 results, marking a 7.3% increase from $449 million in 2023. In light of the solid premium growth in 2024, Property m...
Posted: Apr 25, 2025
Ardonagh Acquires Zurich-Based SRB Assekuranz Broker The Ardonagh Group, the London-based independent insurance distribution platform, announced it has acquired the Zurich-based broker SRB Assekuranz Broker AG (SRB). Founded in 1980, SRB focuses on c...
Posted: Apr 25, 2025
Regardless of the turbulent macroeconomic environment, the long-term trends, in terms of levels of risk, is on the rise, and as the need for solutions increases, there will be implications for demand and pricing of re/insurance, according to Greg...
Posted: Apr 25, 2025
The world’s first-ever exchange-traded fund based on catastrophe bonds has failed to get the seed capital it expected after launching on the eve of the Trump administration’s tariff war. “Some of our seed capital investors are sitti...
Posted: Apr 25, 2025
Marks & Spencer stopped taking online orders in the UK and Ireland on Friday following a cyber attack which it reported earlier in the week, an announcement which sent its shares down by 5%. The British company, which sells its …
Posted: Apr 25, 2025
Net income at The Hartford decreased 16% to $630 million in the first quarter 2025, driven by losses from the California wildfires. Property/casualty catastrophe losses for Q1 2025 were $467 million pretax—$325 million, net of reinsurance, from the C...
Posted: Apr 25, 2025
Global Aerospace, a provider of aviation and aerospace insurance, has announced the appointment of Eric Donofrio as Chief Underwriting Officer. In this role, Donofrio will oversee U.S. underwriting operations, reporting to Jeffrey Bruno, President...
Posted: Apr 25, 2025
It’s not often that applause breaks out in the audience after a vote at the Hawaiʻi Legislature, but that one afternoon this week. The measure was House Bill 1001, and the subject was settling claims related to the August 2023 …
Posted: Apr 25, 2025
The new president and CEO of Global Risk Consultants provides his perspective on property risk engineering and other topics. The post
Posted: Apr 25, 2025
US insurance holding company Donegal Group Inc. has announced its financial results for the first quarter of 2025, reporting an increase in net income to $25.2 million and in net premiums earned, $232.7 million, as well as an improved combined rat...
Posted: Apr 25, 2025
The family of one of three college students who died in a Cybertruck crash in California filed a lawsuit in a bid to gain access to the Tesla Inc. pickup and better understand how their daughter died. The driver and …
Posted: Apr 25, 2025
Willis, a WTW business, has announced the appointment of Dom Spinelli as Head of Transactional Insurance Claims for North America. In this role, he will lead the claims function within Willis’ Alternative Asset Insurance Solutions (AAIS) division,...
Posted: Apr 25, 2025
A new report from AM Best, the credit rating agency, highlights a pressing issue for the US property and casualty insurance sector: nearly half of all US states recorded their highest single-year property catastrophe loss ratio in the past decade...
Posted: Apr 25, 2025
Britain’s water company bosses will face up to two years in prison and be banned from taking bonuses for covering up sewage spills under new legislation in force from Friday. The new measure delivers on the government’s promise to bring &...
Posted: Apr 25, 2025
Despite rain statewide this month, the New Hampshire Forest Protection Bureau reports that 72% of the Granite State is currently experiencing abnormally dry conditions. The bureau is reminding the public that spring is the beginning of the state̵...
Posted: Apr 25, 2025
Florida-domiciled and expansive primary insurance company, Universal Insurance Holdings, has reported a 4.7% increase in direct premiums written for the first quarter of 2025, at $467.1 million from $446.1 million a year earlier, driven by 34.7% g...
Posted: Apr 25, 2025
During RenaissanceRe’s first-quarter 2025 earnings call, CEO Kevin J. O’Donnell focused early remarks on the impact of tariffs and inflation—two major forces shaping the global economic landscape and the reinsurer’s business stra...
Posted: Apr 25, 2025
At a time when firefighters are battling one of the worst wildfires in New Jersey’s history, there is an increased risk for rapid fire spread this afternoon across portions of the Garden State and eastern Pennsylvania, according to the National...
Posted: Apr 25, 2025
At a time when firefighters are battling one of the worst wildfires in New Jersey’s history, there is an increased risk for rapid fire spread this afternoon across portions of the Garden State and eastern Pennsylvania, according to the National...
Posted: Apr 25, 2025
Floodbase, a platform focused on insuring flood risks beyond traditional coverage, has partnered with insurance intermediary Yokahu to introduce automated parametric flood insurance in New Orleans. The initiative aims to provide faster, more flexi...
Posted: Apr 25, 2025
Everest of Warren, New Jersey, made three key leadership appointments to the company’s U.S. wholesale business, Everest Evolution. Matt Meserole has been named head of excess casualty, overseeing the strategic direction and underwriting perform...
Posted: Apr 25, 2025
Around 156 million Americans, nearly half of the US population, now live in areas with unhealthy levels of air pollution, part of a trend toward declining air quality as climate change-related extreme weather events like wildfires occur more frequent...
Posted: Apr 25, 2025
Global broking group Aon’s Reinsurance Solutions arm delivered year on year organic revenue growth of 4% to $1.2 billion in the first quarter of 2025, as total revenue across the group increased by 5% on an organic basis to $4.7 billion. In...
Posted: Apr 25, 2025
The world’s biggest corporations have caused $28 trillion in climate damage, a new study estimates as part of an effort to make it easier for people and governments to hold companies financially accountable, like the tobacco giants have been. A...
Posted: Apr 25, 2025
Baloise on Friday said that Patria Genossenschaft had acquired a 9.35% stake in the Swiss insurer, which this week announced plans to merge with competitor Helvetia. Patria is Helvetia’s main shareholder. The shares were acquired from Cevian Ca...
Posted: Apr 25, 2025
The Hartford has reported a Q1 2025 net income available to common stockholders of $625 million, down from $748 million in Q1 2024, primarily driven by P&C current accident year catastrophe losses of $467 million, before tax, including $325 mi...
Posted: Apr 25, 2025
Everest, a provider of reinsurance and insurance solutions, is expanding the executive leadership team for its US Wholesale insurance business, Everest Evolution™. The appointments include Matt Meserole as Head of Excess Casualty, where he will ov...
Posted: Apr 25, 2025
MAPFRE RE, which encompasses the Reinsurance and Global Risks businesses of Madrid-based insurer MAPFRE, has reported a combined ratio of 97.9% for Q1 2025, an increase of 4.1 percentage points from Q1 2024, driven by the California wildfires, whi...
Posted: Apr 25, 2025
The International Underwriting Association’s Board has welcomed three new members, all senior leaders from the London company market. Its three new member representatives are Charlotte Lach, Chief Operating Officer of AIG UK and Global Speci...
Posted: Apr 25, 2025
Pen Underwriting, a specialist underwriting agency in the UK, has appointed Lorraine Malcolm as Senior Underwriter for Scotland within its Commercial Risk Managed team, effective Tuesday, 22nd April. This team serves brokers and clients nationwide...
Posted: Apr 25, 2025
hyperexponential (hx), a UK-based pricing decision intelligence platform for re/insurers, has partnered with Duck Creek Technologies, a provider of intelligent solutions for the property and casualty insurance industry, to drive performance and pr...
Posted: Apr 25, 2025
Global insurer and reinsurer, AXIS Capital Holdings Limited and global legacy re/insurance specialist, Enstar Group Limited have completed their previously announced 75% ground-up quota share loss portfolio transfer (LPT) reinsurance agreement. Th...
Posted: Apr 25, 2025