Monthly Archives: <span>February 2024</span>

People Moves: QBE Promotes Shallow to Executive Director for International Markets; DUAL UK Taps Allianz’s Dixon as CUO, AXA’s Corner as Chief Distribution Officer

This edition of International People Moves details appointments at QBE’s International Markets division and Howden’s DUAL. A summary of these new hires follows here. QBE Names Shallow to Executive Director for International Markets QBE announced the appointment of Kevin Shallow …

Trinidad and Tobago’s Government Confirms Fuel Oil Is Leaking off Tobago’s Coast

Trinidad and Tobago’s government on Friday confirmed the refined product leaking from a barge that struck a reef and overturned off the coast of Tobago was tested and determined to be a type of fuel oil. The leak, which remains …

Risk Models Behind Insurance-Linked Securities Are Getting a Lot Harder to Crack

As the best hedge fund strategy of 2023 becomes a magnet for mainstream investors, the risk models it relies on are getting a lot tougher to crack. The strategy in question is tied to insurance-linked securities, which are dominated by …

Houthi Attack on Ship Led to ‘Environmental Disaster,’ US Says

The missile attack by Houthi militants on a ship carrying a cargo of fertilizer has led to an “environmental disaster” in the Red Sea, US Central Command said Friday evening. Hours later, Central Command reported that American forces had destroyed …

GM’s Cruise Prepares to Resume Robotaxi Testing After Halt

General Motors Co.’s Cruise autonomous driving unit is nearing the resumption of robotaxi testing in the coming weeks, with Houston and Dallas emerging as potential locations, following the grounding of its fleet last year, according to people with knowledge of …

Warren Buffett Says Berkshire ‘Built to Last’ Though Eye-Popping Gains Are Over

Warren Buffett on Saturday moved to reassure investors that his conglomerate Berkshire Hathaway would serve them well over the long term, even as he mourned the recent passing of his longtime second-in-command Charlie Munger. In his widely-read annual letter to …

GEICO’s ‘Eye-Popping’ 2023 Insurance Profits, Falling Employee Counts

Even though Berkshire Hathaway’s latest annual report featured Warren Buffett’s forecast that the days of “eye-popping performance” for the giant conglomerate are over, readers focused on property/casualty insurance saw numbers that jumped off the pages. Among them were: A 2023 …

Agents, Brokers Achieve Record Annual Growth in 2023

The independent insurance agent and broker channel posted an organic growth rate of 10.3% in 2023 — the highest annual level achieved since Reagan Consulting launched its quarterly growth and profitability study in 2008. According to a Reagan, at 22.8, …

Universities Settle Financial-Aid Antitrust Lawsuit for $166M

Dartmouth, Northwestern, Rice and Vanderbilt universities have agreed to pay a combined $166 million to resolve claims that they favored wealthy student applicants, pushing total settlements in a federal antitrust lawsuit over college financial aid practices to $284 million. Lawyers …

Higginbotham Adds 103-Year-Old FPH&A to the Lineup

Higginbotham, one of the largest independent insurance brokerages, has acquired Alabama-based Fountain, Parker, Harbarger & Associates, a 103-year-old agency. FPH&A was founded in 1921 and has been with some carriers for almost as long, the companies said in a news …