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This offering is the latest addition to MassMutual’s Health and Wellness Program.
Posted: Oct 17, 2024
During Marsh McLennan’s earnings call for the third quarter of 2024, John Doyle, the company’s President and CEO, explained that the global broker’s $7.75 billion acquisition of McGriff Insurance Services, LLC, is expected to be...
Posted: Oct 17, 2024
US primary insurer Allstate reported estimated catastrophe losses of $889 million ($702 million after tax) for September, which includes $630 million in pre-tax losses related to Hurricane Helene, with total catastrophe losses for the third quarte...
Posted: Oct 17, 2024
Allstate Corp. doesn’t announce third quarter earnings until Halloween but today it released some scary September pretax catastrophe losses. In keeping with its initiative to announce monthly catastrophe losses that total at least $150 million,...
Posted: Oct 17, 2024
Demand for reinsurance and insurance catastrophic coverage in Brazil is expected to grow following the floods that struck the Brazilian state of Rio Grande do Sul earlier this year, says S&P Global Ratings. In a new report, S&P noted that...
Posted: Oct 17, 2024
Insurers faced mounting losses from frequent severe storms and floods in the first nine months of 2024, despite overall losses below average, according to Gallagher Re's Nat Cat Report. The post
Posted: Oct 17, 2024
At Swiss Re’s Baden-Baden media conference, Nikhil da Victoria Lobo, Head of P&C Reinsurance for Western & Southern Europe, Middle East & Africa, emphasised that rising global instability will lead to more Strikes, Riots, and Civil Com...
Posted: Oct 17, 2024
The death toll from Hurricane Milton has risen to at least 25, including an elderly man who died from smoke inhalation after a golf cart battery exploded when submerged by rising floodwaters. Local newspapers reported that the man in Charlotte …...
Posted: Oct 17, 2024
Dean Klisura, Chief Executive Officer (CEO) of Guy Carpenter, the reinsurance broking arm of Marsh McLennan, stated during the firm’s recent earnings call that although it’s still early, post hurricane Milton the broker sees a flatteni...
Posted: Oct 17, 2024
Insurance broker Marsh McLennan reported a 6% increase in third quarter consolidated revenue to $5.7 billion, while revenue increased 5% on an underlying (organic) basis. Q3 operating income was $1.1 billion, an 11% increase from $996 million reporte...
Posted: Oct 17, 2024
NASHVILLE, Tenn. (AP) — The family of a Tennessee employee who was killed by catastrophic flooding caused by Hurricane Helene has filed a wrongful death lawsuit against the company he worked for, arguing that workers were forced to stay at …
Posted: Oct 17, 2024
The Travelers Companies has today reported an underwriting gain of $685 million for the third quarter of 2024 despite a rise in catastrophe losses, net of reinsurance, to $939 million, while substantial net favorable prior year reserve development...
Posted: Oct 17, 2024
Travelers on Thursday said third quarter net income was $1.26 billion compared to net income of $454 million during the same period a year ago on record net premiums, favorable prior year reserve development, and higher investment income. The New ...
Posted: Oct 17, 2024
The New York Department of Financial Services (DFS) has issued new guidance to assist the more than 3,000 firms including insurers it regulates in addressing cybersecurity risks arising from artificial intelligence (AI). In a letter to letter compani...
Posted: Oct 17, 2024
Publicly traded HCI Group, the Tampa-based holding company for Homeowners Choice Property & Casualty, TypTap and a new condominium insurance reciprocal, is one of the first insurers to report estimated losses after recent hurricanes. HCI said in...
Posted: Oct 17, 2024
In an interview with Reinsurance News, Abdou Alassane, Technical Lead, Crisis Anticipation and Risk Financing at Start Network, emphasised that pooling funds and transferring some risk to the insurance market has enhanced Start Network’s hum...
Posted: Oct 17, 2024
Mission Underwriters, the MGA incubator, announced the launch of Carrow Insurance, under the leadership of Ronan Conboy, the former CEO of AmTrust International. Carrow is set to focus on warranty, accident & health, and income protection product...
Posted: Oct 17, 2024
Mission Underwriters, the MGA incubator, announced the launch of Carrow Insurance, under the leadership of Ronan Conboy, the former CEO of AmTrust International. Carrow is set to focus on warranty, accident & health, and income protection product...
Posted: Oct 17, 2024
AM Best has assigned a Financial Strength Rating of "A" (Excellent) and a Long-Term Issuer Credit Rating of "a+" (Excellent) to Helvetia.
Posted: Oct 17, 2024
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has reportedly generated revenue of $381 million in Q3 of 2024, an increase of 6% compared with the same quarter of 2023. Marsh McLennan’s Risk & Insurance Services unit, whic...
Posted: Oct 17, 2024
Insurance industry intermediary, Specialist Risk Group (SRG), has appointed Collin Yap as Chief Executive Officer (CEO) of Asia Pacific, after his current employment contract ends in the new year. This leadership appointment aligns with SRG’s broa...
Posted: Oct 17, 2024
This edition of International People Moves details appointments at Liberty Mutual Reinsurance and Marsh. A summary of these new hires follows here. LM Re Taps Vantage Risk’s Sweeney as Specialty Casualty Underwriting Manager Liberty Mutual Rein...
Posted: Oct 17, 2024
NFP, a subsidiary of Aon and an international insurance brokerage and consultancy, has announced its acquisition of IHI Group, a Dublin-based advisory firm specialising in financial planning, healthcare, and general insurance services. Philip Bren...
Posted: Oct 17, 2024
Argenta has strengthened its D&F Property Team with the appointment of Sarah Reeve as Senior Underwriter, a London-based role. Reeve will be joining Hannah Wyatt, Unit Head of Open Market Property, and James Blackwell, Divisional Head of Prope...
Posted: Oct 17, 2024
NFP, an Aon company and insurance brokerage, announced it has acquired IHI Group, the Dublin-based advisory firm that specializes in financial planning, healthcare and general insurance needs. Philip Brennan, CEO of IHI Group, will join NFP as VP bus...
Posted: Oct 17, 2024
AXA Insurance announced it has rebranded its Chinese reinsurance unit, XL Re China, to AXA International Re. The name change took effect on Oct. 16, 2024, following approval from the Chinese regulator, the National Financial Regulatory Administration...
Posted: Oct 17, 2024
Lilypad Insurance Holdings has completed its acquisition of Centauri Specialty Insurance Company and Centauri National Insurance Company, effective September 30th, 2024, following the receipt of all necessary regulatory approvals. The strategic ac...
Posted: Oct 17, 2024
AXA XL has grown its presence in the Australia market by appointing Chris McElroy and Amanda Rattue as Senior Underwriters for Property and Financial Lines respectively, while also naming Trent Jeuring as Senior Underwriter, Casualty. McElroy join...
Posted: Oct 17, 2024
Cytora, a digital risk processing platform, has teamed up with Meetrisk, a provider of advanced marine risk intelligence. This collaboration integrates Meetrisk’s Marine Platform into Cytora’s sophisticated underwriting productivity to...
Posted: Oct 17, 2024
Dallas-domiciled surplus lines insurance carrier, AM Specialty Insurance Company (ASIC), has entered a strategic capital partnership with Veritex Bank by obtaining a $20 million senior secured loan facility through a private placement with Veritex...
Posted: Oct 17, 2024
The Nebraska Department of Insurance shared that Insurtech on the Silicon Prairie will take place in Omaha on Oct. 28-29, with topics including AI, autonomous vehicles, cybersecurity, venture capital, the role of AI in operations. This is the second...
Posted: Oct 17, 2024
AXA Insurance has renamed its China reinsurance business, XL Re China, to AXA International Re, according to finews.asia. This reportedly follows AXA’s acquisition of the mainland China unit in April. Sally Wan, CEO of AXA Greater China, commented...
Posted: Oct 17, 2024
Posted: Oct 17, 2024
Posted: Oct 17, 2024
Posted: Oct 17, 2024
Insurer HCI Group expects to pay between $600 million and $750 million to policyholders across all three events, with net retained losses for the company far lower at around $185 million as a result of its comprehensive reinsurance arrangements. T...
Posted: Oct 17, 2024
The annual average insurable losses in the last decade increased in Canada by a whopping 379%, when compared to the prior 30-year average, according to an analysis from MyChoice, a Toronto-based insurtech company. The report pointed to statistics fro...
Posted: Oct 17, 2024
Starwind Specialty Insurance Services, has launched a new Political Violence and Terrorism (PVT) program – Starwind PVT, and has appointed Chris Kirby to lead as Program President. Launched on October 1, the PVT program is focused on providi...
Posted: Oct 17, 2024
DETROIT (AP) — A judge has approved a $13 million settlement in a lawsuit over an unannounced active shooter drill at a Michigan psychiatric hospital for children, an event that terrified kids and staff and caused them to scramble for …
Posted: Oct 17, 2024
Young British drivers who have just passed their test should be banned from carrying passengers of a similar age and should display special plates, according to the chief executive officer of the AA car breakdown service. The measures, proposed by &#...
Posted: Oct 17, 2024
Growth opportunities are emerging for insurers as demand for private coverage rises among Asia’s growing senior population, according to a recent report by Reinsurance Group of America, Incorporated (RGA). The report is based on a survey of...
Posted: Oct 17, 2024
Cyber risk solutions company Resilience has appointed industry veteran and former CrowdStrike executive, Matthew Polly as Chief Revenue Officer (CRO). As Resilience’s primary revenue strategist, Polly will help accelerate all existing and future r...
Posted: Oct 17, 2024
Some of the most prominent artificial intelligence models are falling short of European regulations in key areas such as cybersecurity resilience and discriminatory output, according to data seen by Reuters. The EU had long debated new AI regulations...
Posted: Oct 17, 2024
Coalition, an active insurer focused on preventing digital risks, has launched a service dedicated to recovering funds stolen by cyber attackers in the UK. Designed to intercept funds in the banking system before an attacker can move them, the cyb...
Posted: Oct 17, 2024