Peak Reinsurance Co. Ltd., a Hong Kong-based reinsurer, has been granted the approval-in-principle by the Labuan Financial Services Authority to carry on general reinsurance business in and through the Labuan insurance market. Labuan is the the federal territory of Malaysia. …
Reduced market access, regulatory fragmentation, the return of inflation and cloud risk accumulation pose the largest challenges with the highest downside risk potential in the short term, according to experts at Swiss Re. Other risks further out on the time …
Rogers & Gray Insurance, a Kingston, Mass.-headquartered independent insurance agency, has hired Peter Cullivan as its first chief information officer, effective June 2. In this newly-created senior management position, Cullivan will direct the technological advancement of the agency. Cullivan has …
The former general manager of a now-defunct New Jersey car dealership who got nearly $3 million through a fraud scheme has been sentenced to five years in prison. Richard Pepe had pleaded guilty to bank fraud and filing a fraudulent …
Frederick Mutual Insurance Company (FMIC), a Frederick, Md.-based provider of insurance coverage to homeowners and businesses in the states of Maryland and Pennsylvania through a network of independent agents, has promoted Mark J. Roso to executive vice president and chief …
Salt Lake City, UT, June 13, 2017- Prime Holdings Insurance Services, Inc., (“Prime”), announced that it received $10,000,000 from an undisclosed insurance enterprise in exchange for 2,000 shares of Prime’s non-voting common stock. All proceeds will be contributed to Prime’s …
American International Group Inc. said it was not “unwelcoming to working mothers” as the insurer fought a discrimination lawsuit filed by a former London trader dismissed while on maternity leave. Jennifer Marlow, who until September 2016 was a senior foreign …
Editor’s Note: This is the first of two articles by Burand based on his most recent 50-page whitepaper, State of the P&C Insurance Industry 2017. The whitepaper is available from Insurance Journal’s Research and Trends division here. The second article …
Natural coastal habitats such as mangroves, coral reefs and salt marshes protect communities more effectively against coastal storms than seawalls, and insurers should consider this when pricing flood risk, Lloyd’s of London said. Investment to conserve natural habitats also makes …
Well-capitalized private equity investors still have an advantage among buyers of insurance agencies, but privately-held brokers continue to be among the most active players in agency mergers and acquisitions, according to Reagan Consulting. Also, while consolidation continues in the ranks …
