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Posted: Jul 12, 2024
Managing general agent, XS Global, has established its presence in Dubai with the launch of its operating unit, XS Global (DIFC) Limited, led by Stephen Saunders. The MGA has stated this move is to strengthen its reinsurance capacity globally, as...
Posted: Jul 12, 2024
MARION, N.C. (AP) — Three people were killed when a small plane crashed in western North Carolina, officials said Monday. McDowell County Emergency Management said in a statement that emergency personnel responding to a report of a missing small plan...
Posted: Jul 12, 2024
MEMPHIS, Tenn. (AP) — A sitting Tennessee sheriff pleaded not guilty Wednesday to charges that he illegally profited from the work of jail inmates under his supervision and housed dozens of them in a home outside of the prison without …
Posted: Jul 12, 2024
Blackstone Credit & Insurance (BXCI), a division of the global investment firm Blackstone, recently announced the appointment of Tyler Dickson, the former Global Head of Investment Banking and Vice Chair of Banking & International at Citi,...
Posted: Jul 12, 2024
Illinois-based specialty insurance broker Origin Specialty Underwriters Agency announced it has acquired Agricultural Insurance Management Services (AIMS), an agribusiness insurance-focused managing general underwriter based in Bow, New Hampshire. AI...
Posted: Jul 12, 2024
Insurance Business Magazine - US
Posted: Jul 12, 2024
Insurance Business Magazine - US
Posted: Jul 12, 2024
Insurance Business Magazine - US
Posted: Jul 12, 2024
During yesterday’s S&P Global Ratings Insurance In Focus webinar, Ali Karakuyu, Director and Lead Analyst, stated that if a large tail, 1-in-200 year catastrophe event were to occur, the global reinsurance sector is well-prepared and wou...
Posted: Jul 12, 2024
AT&T said Friday the company suffered a massive hacking incident as data from about 109 million customer accounts containing records of calls and texts from 2022 was illegally downloaded in April. The U.S. telecom company said the FBI is investig...
Posted: Jul 12, 2024
US Senator Bob Menendez’s lawyer told jurors that the politician’s wife failed to tell him details of how she got a Mercedes Benz from a convicted felon who testified during the lawmaker’s corruption trial that the car was a bribe....
Posted: Jul 12, 2024
Ascot U.S, a P&C re/insurer part of Ascot Group Limited., has partnered with Phinsys, a finance automation software provider for the re/insurance sector, to modernise its business technology landscape and enhance its financial and accounting o...
Posted: Jul 12, 2024
Storms that pounded South Africa’s Western Cape province have led to flood damage affecting more than 35,000 households in the city of Cape Town, Executive Mayor Geordin Hill-Lewis said. “We’ve got more than 35,000 families in the c...
Posted: Jul 12, 2024
US carbon-credit insurance carrier Oka, and Socotra, a provider of modern policy administration systems, have formed a strategic partnership aimed at the carbon markets and scaling climate solutions. This partnership combines Oka’s team and...
Posted: Jul 12, 2024
Markel Canada, a division of London-domiciled casualty insurer Markel International, a subsidiary of Markel Group, has officially launched Markel Play, which will serve as a comprehensive insurance product tailored for the sports, fitness, and rec...
Posted: Jul 12, 2024
Favourable first-quarter economic and underwriting results for property & casualty (P&C) insurance are reportedly in line with projections that the sector will see a small underwriting loss in 2024, but achieve profitability in 2025, accor...
Posted: Jul 12, 2024
In a change in regulatory practice, Connecticut has decided that all commercial lines claims made insurance forms and rates are now subject to full regulatory review. Citing compliance issues, Insurance Commissioner Andrew Mais issued a new bulletin...
Posted: Jul 12, 2024
Japanese reinsurance group Toa Re has reported that net income for the fiscal year ending March 2024 was 15.5 billion yen ($97.4 million), marking an increase of 13.1 billion yen ($82.3 million) compared to the previous fiscal year. Toa Re reporte...
Posted: Jul 12, 2024
Concert Group Holdings, Inc., a privately owned insurance holding company, has announced the appointment of Charles Rawlins as Senior Vice President, Property Underwriting and Program Management. In his new role, Rawlins will be responsible for un...
Posted: Jul 12, 2024
Origin Specialty Underwriters Agency, a partner company of Beyond Risk, has acquired Agricultural Insurance Management Services (AIMS), an agribusiness insurance-focused MGU. AIMS offers a variety of farm-related coverages, including homes, barns,...
Posted: Jul 12, 2024
The International Underwriting Association (IUA), which represents companies in the London insurance market, has appointed Matthew Dumbrell, General Counsel for Generali’s UK branch, as Chair of the IUA’s Legal and Regulatory Committee. This...
Posted: Jul 12, 2024
In a new report on the matter, Conning has revealed that the total U.S. Managing General Agents (MGA) market, including business written for the account of Lloyd’s syndicates, exceeded $102 billion in direct premiums written in 2023. Accordi...
Posted: Jul 12, 2024
Catastrophe risk modeller CoreLogic has updated its insurance industry loss estimate for the impacts of hurricane Beryl, putting the total for wind losses in Texas at between $2.5 billion and $3.5 billion. At the same time, CoreLogic has updated i...
Posted: Jul 12, 2024
Posted: Jul 12, 2024
Posted: Jul 12, 2024
Sompo, a global provider of commercial and consumer property, casualty, and specialty re/insurance, has announced the appointment of Bill Zhang as President, Consumer Lines, Asia Pacific (APAC). In his new role, Zhang will report directly to Kenne...
Posted: Jul 12, 2024
Greece is fighting a deadly fire on the island of Lesvos, as temperatures in some parts of the country exceed 40C (104F). A person died in a burned-out car on Lesvos, where authorities are investigating whether the vehicle was scorched …
Posted: Jul 12, 2024
A ring of wildfires has erupted around Canada’s unofficial oil-sands capital of Fort McMurray, adding new threats to crude production from the world’s third-largest petroleum reserves. Eight out-of-control blazes have been discovered just...
Posted: Jul 12, 2024
The fintech industry is poised for significant growth despite recent challenges, according to a recent report by Boston Consulting Group (BCG), a management consulting firm, and QED Investors, a venture capital firm specialising in fintech, titled...
Posted: Jul 12, 2024
Specialty automotive insurer Hagerty, Inc. has appointed former Munich Reinsurance US Holdings (Munich Re US) Chief Executive Officer (CEO), Anthony J. Kuczinski, to its Board of Directors, effective immediately. Kuczinski is an industry veteran w...
Posted: Jul 12, 2024
Impressive Inroads in Early Cancer Detection Life & Health ClareCarroll1
Posted: Jul 12, 2024
AdvantageGo, a commercial re/insurance software provider and part of Coforge, has formed a strategic partnership with FortifyData, a cyber risk management solutions provider, aiming to enhance underwriters’ ability to analyse cyber risks. FortifyD...
Posted: Jul 12, 2024
A hard market combined with underwriting capacity from fronting companies allowed for robust growth in the MGA market in 2023, according to a new Conning strategic study. The global investment management firm’s 11th annual study on the P/C prog...
Posted: Jul 12, 2024
Climate change is expected to increase the frequency and severity of floods in the U.S., posing greater risks to homeowners and mortgage lenders—and since flood damage tends to lower the market value of affected homes, it’s more likely that hom...
Posted: Jul 12, 2024
AXA XL, headquartered in Stamford, Connecticut, appointed Joseph Madigan as chief underwriting officer for its North American environmental insurance business for the middle market. Madigan joined AXA XL’s environmental insurance business as an...
Posted: Jul 12, 2024
Tara Hill Insurance Services, the newly launched Excess and Surplus (E&S) program administrator, has appointed renowned industry veteran, Richard Edsall as Senior Vice President. Most recently, Edsall served as SVP of commercial management lia...
Posted: Jul 12, 2024
A federal judge in Texas said on Wednesday he would block the National Labor Relations Board from pursuing claims that Elon Musk’s SpaceX forced workers to sign illegal severance agreements, pending the outcome of the rocket maker’s chall...
Posted: Jul 12, 2024
One Acre Fund and Global Parametrics, a CelsiusPro Group company, have partnered to provide financial protection for smallholder farmers in Zambia and Malawi against the financial strain of losing their crop due to drought. Using data collected an...
Posted: Jul 12, 2024
A workers’ compensation insurer is entitled to continue to receive reimbursements from the Massachusetts second injury fund even after it stops writing business in the state, the state’s high court has ruled in an opinion reversing itself...
Posted: Jul 12, 2024
A new Vermont-based captive insurer is promising to provide insurance for New York affordable rental housing buildings at a time when advocates say coverage is difficult to afford or obtain. The Milford Street Association Captive Insurance Co. will b...
Posted: Jul 12, 2024
A new Vermont-based captive insurer is promising to provide insurance for New York affordable rental housing buildings at a time when advocates say coverage is difficult to afford or obtain. The Milford Street Association Captive Insurance Co. will b...
Posted: Jul 12, 2024
A new Vermont-based captive insurer is promising to provide insurance for New York affordable rental housing buildings at a time when advocates say coverage is difficult to afford or obtain. The Milford Street Association Captive Insurance Co. will b...
Posted: Jul 12, 2024