U.S. household wealth rose to a record of roughly $156.2 trillion at the end of 2023 thanks to a surging stock market that offset a drop in property market values, the Federal Reserve said on Thursday. Household net worth rose …
In an era of heightened climate risks and evolving insurance dynamics, the traditional insurance model faces a conundrum. Insurers find themselves grappling with the aftermath of more frequent and severe storms, and struggling to collect adequate premiums while navigating stringent …
UK Insurer Aviva has agreed to sign a binding agreement with the specialist managing general agent Azur Underwriting Ltd., to acquire its high-net-worth personal lines business in the UK and Ireland. Financial details of the transaction, which will be funded …
This edition of International People Moves details board changes at Beazley and appointments at Miller and AXA XL. A summary of these new hires follows here. Beazley’s Chair Roberts to Step Down Beazley plc announced that its chair, David Roberts …
Howden, the London-based international insurance broker, announced the signing of the acquisition of SPF Private Clients (SPF), subject to regulatory approval. Financial details of the deal were not disclosed. SPF was formed in 2011 after a management buyout and rebrand …
Miller, the London-based independent specialist re/insurance broker, announced the launch of its online Private Clients platform, providing digital solutions for clients in the high-net-worth space. The online system is the first broker offering of its type in the market and …
Groves, John & Westrup Ltd. has been a coverholder for Munich Re’s Lloyd’s syndicate for decades, writing marine, pleasure boat and private yacht insurance. This year, the company branched out into the high net worth (HNW) sector, trading under the …
Morgan Stanley has expanded its insurance offerings to include property & casualty insurance coverage for its high net worth clients through insurance brokers HUB International, Marsh Private Client Services, and Willis Towers Watson. The coverage will target risks associated with …
The PURE Group of Insurance Companies (PURE Group), which includes Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property and casualty insurer designed for high net worth individuals and families, has restructured its jewelry insurance to include more protection for losses …
G2 Insurance Services has partnered with Urgent.ly, a global, digital roadside assistance platform, to offer roadside assistance services to G2’s high net worth clients. G2’s Personal Risk Management clients will be assigned a dedicated phone number that will allow access …
