The American Property Casualty Insurance Association (APCIA) recently released a report that concludes over-regulation impedes insurance markets “Insurance markets function best when allowed to operate competitively, free from excessive price regulation,” said Robert Gordon, APCIA’s senior vice president, policy, research …
APCIA: Insurance Markets Work Best Without Excessive Price Regulation Read More »
American International Group (AIG) said it is organizing into three segments and Jon Hancock will lead two of them. Hancock will continue to lead AIG’s international commercial business and will also take on leadership of the newly formed global personal …
AIG’s Hancock to Lead Global Personal Lines as Insurer Restructures Businesses Read More »
The crew of the Hong Kong-flagged ASL Bauhinia have abandoned the container ship in the Red Sea after it caught fire on Tuesday, two maritime sources said, adding the cause of the incident was not immediately clear. The crew were …
Crew Abandon HK-Flagged Container Ship in Red Sea After Fire: Sources Read More »
Everest Group preannounced full-year 2024 earnings yesterday, disclosing about a 45% drop in net income attributable to a $1.7 billion boost in its casualty insurance reserves. The company, which writes more than twice as much reinsurance premium as insurance premium, …
Everest Group Boosts Casualty Losses Reserves $1.7B Read More »
Storm Herminia triggered the worst flooding in four decades in parts of northwest France and created dangerous avalanche conditions in the Alps. In Brittany, hundreds of people were evacuated from their homes in the department of Ile-et-Vilaine, including the city …
Storm Triggers Worst Floods in 40 Years in Northwest France Read More »
Japan’s Fuji Media said on Monday its chairman and the head of its TV unit would step down immediately amidst a probe into alleged sexual misconduct by a celebrity TV host. The scandal, which has led to an exodus of …
Fuji Media, Rocked by Sexual Misconduct Allegations, Says Executives to Resign Read More »
Ardonagh Netherlands, part of The Ardonagh Group, has reached an agreement to acquire a majority stake in Private Insurance Assuradeuren B.V. (PIA) and Private Insurance Nederland B.V. (PIN), two prominent players in the Dutch insurance market for high-net-worth individuals. Financial …
Ardonagh Netherlands to Buy Majority Stake in 2 High-Net-Worth Specialist Firms Read More »
The world’s oceans are warming four times faster than they were in the late 1980s, according to a new study. The alarming acceleration helps explain why 2023 and 2024 saw unprecedented ocean temperatures — and more extreme storms. The findings …
Oceans Are Warming Faster and Faster as the Earth Traps More Energy Read More »
German watchdog BaFin said the country’s financial industry needs a better grasp of physical risks stemming from climate change because of the increasing impact of events such as floods and droughts. Banks often don’t have data on where their clients …
German Watchdog Raises Focus on Physical Risks Stemming From Climate Change Read More »
Plymouth Rock Assurance, headquartered in Woodbridge, New Jersey, named Greg Kalinsky as president and CEO of the Plymouth Rock Management Co. of New Jersey, effective February 24. Kalinsky will oversee Plymouth Rock’s direct-to-consumer and exclusive agent auto insurance division, based …
People Moves: Kalinsky Named CEO of Plymouth Rock Management; Hunter Joins Protecdiv Read More »
