U.S.-based alternative investment manager Castlelake, L.P. announced the creation of a Bermuda-licensed reinsurance company, Itasca Re Limited, to offer insurance financing to buyers and owners of commercial aircraft assets. Itasca Re’s products enable competitive financing rates for aircraft asset buyers …
San Francisco-based wholesale insurance brokerage Socius Insurance Services, Inc. has acquired the assets of Kelly Underwriting Services, a Farmingdale, New York based managing general underwriter. Led by Tom Nash, Kelly provides underwriting for professional liability risks and currently manages four …
California’s weather was calmer this week after weeks of atmospheric rivers that slammed the state with damaging rains, wind and surf that flooded homes, highways and farm fields, collapsed hillsides and toppled countless trees. Tallying the damage will take time, …
Leader Bank in Massachusetts reports it has launched a subsidiary, Leader Insurance, to provide property, auto, and umbrella insurance to its loan clients on its digital platform. According to Jay Tuli, president, Leader is offering insurance to clients in Massachusetts …
Newly sworn-in Pennsylvania Gov. Josh Shapiro is assembling his team and has selected Mike Humphreys to be the state’s insurance commissioner. Humphreys is no stranger to the Pennsylvania Insurance Department or community. He is currently serving as acting insurance commissioner, …
AM Best downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of California Earthquake Authority. The outlook of the Long-Term ICR has been …
Bankrupt crypto exchange FTX said in a report to creditors on Tuesday that about $415 million in cryptocurrency had been stolen in hacks. FTX has said it had recovered over $5 billion in crypto, cash and liquid securities, but that …
Richard Blodgett, a single father, was jailed on a drug charge when a worker from Arizona’s child welfare agency delivered the news: His son was brain dead and on life support, just days after being taken into state custody. Blodgett …
The board of directors for Tampa-based Heritage Insurance Holdings has authorized the repurchase of $10 million in shares from stockholders, marking the second buy-back plan in recent months. The super-regional company (HRTG on the New York Stock Exchange), made the …
An oil company sued the city of Los Angeles over its recent law to ban the drilling of new oil and gas wells and to phase out existing ones within city limits over the next two decades. Warren Resources filed …
