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Oman Re, the sole reinsurer in the Sultanate of Oman, has announced it has obtained a Retakaful licence by the Capital Market Authority. Granted on 22 February 2024, the licence empowers Oman Re to establish Retakaful operations, further solidifyi...
Posted: Mar 06, 2024
Norfolk Southern crews and contractors are working on cleanup and track repair after a collision and derailment in eastern Pennsylvania over the weekend involving three trains that left some railroad cars scattered along a riverbank and at least one...
Posted: Mar 06, 2024
Mosaic Insurance, the Bermuda-based specialty insurer, has launched a suite of specialized financial institutions products, offering $25 million in investment management insurance (IMI), blended with cyber and other coverage for asset managers, funds...
Posted: Mar 06, 2024
A far-right, unofficial Catholic media website has agreed to pay $500,000 to a New Hampshire priest who sued for defamation over a 2019 article that it now disavows. The website also is planning to shut down soon, the priest’s attorney …
Posted: Mar 06, 2024
At about 4% of assets, the European insurance sector faces low exposure to the rising risks of commercial real estate (CRE), according to Fitch Ratings, with most insurers facing minimal risk to capital or ratings from falling CRE valuation. Fitch...
Posted: Mar 06, 2024
Sompo Holdings, Inc. has appointed Koji Takahashi to replace Emiko Maki as the Chief Risk Officer (CRO) and Head of Reinsurance for Sompo Japan, effective April 1st, 2024, reporting to Koji Ishikawa, President of the core subsidiary. Maki steps do...
Posted: Mar 06, 2024
Property and casualty insurer The Hartford has announced a new organisational structure combining its Operations and and Technology, Data, Analytics & Cyber functions under one leadership to advance the company’s strategy. As part of this new...
Posted: Mar 06, 2024
How the fear of reinjury can affect workers’ comp claims. The post The Silent Saboteur: How Kinesiophobia Affects Wo...
Posted: Mar 06, 2024
Howden has acquired Hencilla Canworth GI Ltd, a leading British independent specialist performing arts insurance broker, reportedly adding further scale and product expertise to its Sport and Entertainment division. The addition of Hencilla Canwor...
Posted: Mar 06, 2024
Legal & General (L&G) has posted their full-year results for 2023, which included an operating profit of £1.67 billion, a slight increase from the previous year’s £1.63 billion. Post-tax profit meanwhile decreased more than 40% to £4...
Posted: Mar 06, 2024
Talanx Group’s Retail International Division, headed by HDI International AG, has completed the acquisition of the business of Liberty Seguros in Chile, Colombia and Ecuador, making it the second-largest property and casualty insurer in Lati...
Posted: Mar 06, 2024
Greenlight Capital Re, Ltd. has reported a Q4 2023 combined ratio of 91.4% compared to 94.2% in the prior year quarter, as the current-year loss ratio improved by 3.8% to 54.7% driven by improved pricing on the in-force underwriting book. The rein...
Posted: Mar 06, 2024
Lancashire Holdings has revealed its overall profit after tax for 2023 was $321.5 million, resulting in a change in diluted book value per share of 24.7% and marking a massive improvement compared to 2022’s loss of $15.5 million. The firm...
Posted: Mar 06, 2024
Posted: Mar 06, 2024
Posted: Mar 06, 2024
Posted: Mar 06, 2024
Insurance and reinsurance broker Aon has announced the appointment of Darren T. Oliver as Head of Philippines, Thailand and Vietnam, with immediate effect. In his new role, based in Manila, Philippines, Oliver will be responsible for leading the n...
Posted: Mar 06, 2024
French reinsurer SCOR has reported net income of €162 million for the fourth quarter and a record €812 million for the full year 2023, as the P&C combined ratio strengthened in both periods on the back of lower catastrophe losses. Net income f...
Posted: Mar 06, 2024
Dozens of oil tankers used by Russia have stopped sailing under the Liberian and Marshall Islands flags in recent weeks after the United States ramped up sanctions enforcement on ships linked to those registries, according to shipping data and interv...
Posted: Mar 06, 2024
U.S.-based mortgage insurance specialist NMI Holdings has appointed Aurora Swithenbank as Executive Vice President (EVP) and Chief Financial Officer (CFO), effective May 1, 2024. Swithenbank will succeed Ravi Mallela, who has held the role since 2...
Posted: Mar 06, 2024
Sapiens International Corporation, has announced its strategic expansion in the Canadian market, bolstering its workforce and expertise to foster continued growth and innovation for regional customers. Sapiens has been successfully serving leading...
Posted: Mar 06, 2024
Credit insurer Coface has announced the launch of its 2024-2027 strategic plan, Power the Core, with a view to develop a global ecosystem of reference for credit risk management. With the new plan, Coface looks to build upon the successes of the p...
Posted: Mar 06, 2024
Bayer on Tuesday said it won a trial in a lawsuit brought by a retired postal service worker in Pennsylvania who alleged he developed non-Hodgkins lymphoma from using the company’s Roundup weedkiller. In addition to the jury verdict in the R...
Posted: Mar 06, 2024
Former North Carolina insurance and business mogul Greg Lindberg has lost an appeal on whether one of his companies can delay the liquidation of two of his troubled life insurance carriers. North Carolina Insurance Mike Causey said the March 5 …...
Posted: Mar 06, 2024
Charles Taylor, an international loss adjusting firm, recently announced the appointments of Bob Battoo as Managing Director, Asia Pacific (APAC) – Aviation, and Dennis San Jose as Resident Technical Manager – Aviation Asset Management. This strat...
Posted: Mar 06, 2024
California’s Division of Occupational Safety and Health recently increased penalties for certain violations, with some maximum penalties planned to rise as much as $4,983 this year, a smaller increase than in the past. This annual Cal/OSHA incr...
Posted: Mar 06, 2024
California’s high rainfall in 2023 is continuing into 2024 but has yet to have a material effect on credit quality for cities and counties rated by S&P Global Ratings, however the longer-term effects on issuers could be more significant, th...
Posted: Mar 06, 2024
California’s high rainfall in 2023 is continuing into 2024 but has yet to have a material effect on credit quality for cities and counties rated by S&P Global Ratings, however the longer-term effects on issuers could be more significant, th...
Posted: Mar 06, 2024
Insurance Business Magazine - US
Posted: Mar 06, 2024
Insurance Business Magazine - US
Posted: Mar 06, 2024
Major U.S. business groups on Tuesday filed the latest lawsuit challenging a Biden administration rule that would make it more difficult for companies to treat some workers as independent contractors rather than employees. The groups including the U....
Posted: Mar 06, 2024
AmFam Underwriting Loss Worsens to $1.7B in 2023 American Family Insurance posted a net u...
Posted: Mar 05, 2024
Insurance industry news from Messagepoint, Quadient, ICEYE and more.
Posted: Mar 05, 2024
To sustain a competitive advantage in this rapid digital era, insurers must enthusiastically adopt technological integration.
Posted: Mar 05, 2024
The Ninth Circuit didn’t rule on the merits of the claims, but rather upheld a district judge’s decision.
Posted: Mar 05, 2024
APCIA Vice President and Counsel James Whittle discusses why the organization has prioritized this issue.
Posted: Mar 05, 2024
As tax season approaches, cybercriminals are increasingly targeting individuals and businesses through various scams.
Posted: Mar 05, 2024
From coverage for shopping carts being blown into parked cars to the latest cybercrime trends, agents were kept up to date on the perils of the day thanks to weekly e-newsletters and the monthly magazine.
Posted: Mar 05, 2024
The partners will join the Verisk Claims Solutions ecosystem by integrating with Verisk’s ClaimSearch platform, which includes the world’s largest P&C claims database.
Posted: Mar 05, 2024
For those information providers who traffic in the unauthorized use of PII, including claims data, to produce vehicle history reports, now would be a good time to develop an alternate business model.
Posted: Mar 05, 2024
Is this the year that claims related to these known threats begin to impact insurance-carrier financial results?
Posted: Mar 05, 2024
The company has appointed a new CUO and CRO.
Posted: Mar 05, 2024
Realignment in Insurance: Strategic Priorities for Success From Our Partners sradomski
Posted: Mar 05, 2024
Despite a slowdown in premium increases, The Council's Q4 2023 survey reveals rising commercial property premiums and customer dissatisfaction, prompting brokers to prioritize enhancing customer experience. The post
Posted: Mar 05, 2024