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The U.S. Justice Department and a group of 30 states and the District of Columbia Thursday sued to break up Live Nation, arguing the big concert promoter and its Ticketmaster unit illegally inflated concert ticket prices and hurt artists. “It &...
Posted: May 23, 2024
The largest single-site, not-for-profit retirement community in the US is selling municipal bonds to finance an expansion, less than two years after Hurricane Ian caused as much as $85 million of damages. Fort Myers, Florida-based Shell Point Retirem...
Posted: May 23, 2024
US-based private flood insurance company, Neptune Flood, has promoted Matt Duffy to the role of Managing Director (MD) and Chief Risk Officer. Duffy has been with the company for three years, serving as the Chief Risk Officer. Previously, he serve...
Posted: May 23, 2024
A coalition of U.S. business groups has filed a lawsuit seeking to block a Biden administration rule that would extend mandatory overtime pay to 4 million workers, saying it goes too far. The groups filed a complaint in U.S. District …
Posted: May 23, 2024
The U.S. homeowners insurance segment posted its worst underwriting results in over a decade in 2023, according to an analysis by S&P Global Market Intelligence. The net combined ratio for the homeowners business, excluding policyholders’ d...
Posted: May 23, 2024
Representatives from the Lloyd’s Market Association (LMA) and the London Market Group (LMG) have expressed their hopes that a new UK government continues to back the country’s financial services to support the Lloyd’s market’s significance a...
Posted: May 23, 2024
U.S. Home Insurers Post Net Combined Ratio Over 110: S&P Global Market Analysis The U.S. homeowners insurance...
Posted: May 23, 2024
HDI Global Insurance Company, the US subsidiary of international commercial insurer, HDI Global SE (HDI) has entered into a multi-year partnership with Hallmark Financial Services, Inc. Through this collaboration, the insurer aims to provide capac...
Posted: May 23, 2024
New York can continue to require companies with health insurance plans to cover medically necessary abortions, the state’s highest court ruled Tuesday. The Roman Catholic Diocese of Albany and other church groups challenged the rule, arguing th...
Posted: May 23, 2024
The company that runs global financial exchanges and clearing houses has agreed to a $10 million fine to settle charges it delayed notifications of a cyber intrusion about 3 years ago. The U.S. Securities and Exchange Commission (SEC) on May …
Posted: May 23, 2024
A new report from Global Insurance Law Connect (GILC) showcases that natural disasters linked to climate change, cyber security, artificial intelligence (AI) and regulations related to consumer protection are the “biggest challenges” f...
Posted: May 23, 2024
Insurance Business Magazine - US
Posted: May 23, 2024
This multi-year partnership continues HDI’s investment in strengthening its position in the US market.
Posted: May 23, 2024
California could eventually join the European Union in requiring all new cars to alert drivers when they break the speed limit, a proposal aimed at reducing traffic deaths that would likely impact motorists across the country should it become law. &#...
Posted: May 23, 2024
Global insurance and reinsurance broking group, Aon, has named Wen Chen as the Head of Agriculture for the firm’s Reinsurance Solutions Asia Pacific (APAC) region, effective June 1st, 2024. Chen will be based in Singapore and will have a dual repo...
Posted: May 23, 2024
Aviva posted a 16% rise in general insurance gross written premiums to 2.7 billion pounds ($3.44 billion) in the first quarter, helped by strong performance in Britain. Life and general insurer Aviva, which has its main operations in Britain, Canada...
Posted: May 23, 2024
Consilium, the global speciality re/insurance broking arm of the Aventum Group, has introduced its new Marine division and appointed Thomas Noakes as Senior Partner. The division will grant comprehensive access to top-rated carriers in the Lloyd’s...
Posted: May 23, 2024
Canopius, the global specialty and property/casualty re/insurer, announced it has appointed Andy Haste as its new group chairman with effect from July 1, 2024. He will assume responsibility for chairing the group board as Canopius embarks on realizin...
Posted: May 23, 2024
Canopius, the global specialty and property/casualty re/insurer, announced it has appointed Andy Haste as its new group chairman with effect from July 1, 2024. He will assume responsibility for chairing the group board as Canopius embarks on realizin...
Posted: May 23, 2024
Global re/insurance company Fidelis Insurance Group has announced the appointment of Aoife Woulfe to the role of Head of Underwriting, Ireland. She will be based in Dublin and report to Group Chief Underwriting Officer, Ian Houston. Woulfe joins F...
Posted: May 23, 2024
Axis Insurance Managers Inc., the Vancouver, Canada-headquartered brokerage, announced it has acquired The Magnes Group Inc. Axis Insurance said it made its initial investment in Magnes in 2015. Financial details of the transaction were not disclosed...
Posted: May 23, 2024
In their results for the first quarter of 2024, Aviva has posted general insurance premiums of £2.7 billion, representing an increase of 16% from the prior year quarter. Growth was heavily driven by both the UK & Ireland and Canada, with stron...
Posted: May 23, 2024
The deadly turbulence on a Singapore Airlines Ltd. flight on its way from London to Singapore has put a spotlight on the world’s most unstable air routes. A British man was killed and seven other people were critically injured after …
Posted: May 23, 2024
Super-regional property and casualty insurance holding company, Heritage Insurance Holdings, has announced a 3.3% rate decrease approval by the Florida Office of Insurance Regulation for its Florida homeowner’s (HO3) business. This rate redu...
Posted: May 23, 2024
Lockton Caribbean & Central America (CCA) announced the launch of CCA FAB, the insurance broking industry’s first Food, Agriculture & Beverage practice that focuses exclusively on the region. The new Food, Agriculture & Beverage pra...
Posted: May 23, 2024
Bowhead Specialty, a provider of casualty and professional liability products, has revealed the pricing of its upsized initial public offering (IPO) of 7,529,412 shares of its common stock at a public offering price of $17.00 per share. Earlier th...
Posted: May 23, 2024
Global re/insurance broker WTW has appointed Alex Rosati as the Head of Claims Asia for its Corporate Risk & Broking (CRB) business, effective August 1st, 2024. Rosati will succeed Neil Thomas who retired earlier this year. Rosati will be base...
Posted: May 23, 2024
Travel insurance policies “will likely” cover injuries sustained by aircraft turbulence, but policies may vary, the Association Of British Insurers said following the Singapore Airlines SIAL.SI incident on Tuesday. One passenger died of a...
Posted: May 23, 2024
Gallagher Re Japan has revealed significant senior leadership changes, naming George Sherriff as the new CEO, while Tsuyoshi “Travis” Noguchi has been appointed Chairman. Currently leading the Global Client proposition across Asia Pacific from Sin...
Posted: May 23, 2024
Insurance Business Magazine - US
Posted: May 23, 2024
Courts around the world are hearing an ever-growing number of climate change lawsuits with some of the largest cases in history being decided in 2024 and 2025. Here are the key cases to watch: INTERNATIONAL COURT OF JUSTICE (ICJ) The …
Posted: May 23, 2024
As per analysts from KBW, most of the re/insurance executives that the firm met in this week’s Bermuda Tour expect the Florida-heavy June 1 property catastrophe reinsurance renewals to reflect overall y/y risk-adjusted rate changes in the “flat to...
Posted: May 23, 2024
Catastrophe bond and related insurance-linked securities (ILS) issuance has already broken the first-half year record at $10.9 billion, beating the previous high set in H1 2023 by around $600 million, with June issuance still to complete and add t...
Posted: May 23, 2024
Posted: May 23, 2024
Bermuda-domiciled, tech-driven insurance management and reinsurance transform organisation, Nascent Group, has added two industry veterans, Yulanda Francis and Shehan Ranasinghe, to its senior leadership team. These strategic hires are aligned wit...
Posted: May 23, 2024
Gordon Browne has been appointed Global Head of Specialty at American International Group (AIG), effective June 11, 2024, reporting to Jon Hancock, Executive Vice President and Chief Executive Officer, International Insurance. He will also serve o...
Posted: May 23, 2024
The Pacific Catastrophe Risk Insurance Company (PCRIC) alongside broker WTW have designed a parametric insurance policy to help protect PNG DataCo., a Papua New Guinea (PNG) operator, from the financial impact of earthquake damage. The parametric...
Posted: May 23, 2024
The International Underwriting Association has expressed approval for a recent decision to halt proposed alterations in the Financial Services Compensation Scheme (FSCS). The Prudential Regulation Authority (PRA) had entertained the idea of expand...
Posted: May 23, 2024
Munich Re Automation Solutions Ltd, a provider of automated underwriting and analytics solutions to the life insurance industry, has announced that its SARA risk assessment solution is now live with Brazilian life insurance firm, MAG Mongeral Aego...
Posted: May 23, 2024
American International Group, Inc., headquartered in New York, appointed Gordon Browne as global head of specialty, effective June 11. Browne will serve on the international insurance leadership team. Browne has over 20 years of industry experience i...
Posted: May 23, 2024
American International Group, Inc., headquartered in New York, appointed Gordon Browne as global head of specialty, effective June 11. Browne will serve on the international insurance leadership team. Browne has over 20 years of industry experience i...
Posted: May 23, 2024
A former managing director at Citigroup sued the bank and its chief operating officer on Wednesday, alleging she was fired for opposing what she said were attempts to give regulators false information. Kathleen Martin, a former managing director Citi...
Posted: May 23, 2024
A former managing director at Citigroup sued the bank and its chief operating officer on Wednesday, alleging she was fired for opposing what she said were attempts to give regulators false information. Kathleen Martin, a former managing director Citi...
Posted: May 23, 2024