Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurer Group Hammers Claim that California Prop 103 Saved Drivers Billions
Oct 17 2018 // The insurance industry is taking exception to a new report commemorating the 30th anniversary of one of California’s primary auto insurance laws that claims the law has saved drivers billions of dollars. The Consumer...
Virginia’s Prosper Insurance Company to Expand Headquarters, Add 75 Jobs
Oct 17 2018 // Prosper Insurance Company has announced it will expand from its 6,000-square-foot headquarters in Virginia Beach, Va. The corporate investment is expected to be $750,000 with the buildout, furniture, fixtures and...
Specialty Insurer StarStone Taps Hendrickson from Validus as CEO, Replacing Smith
Oct 17 2018 // StarStone, the London-based specialty insurer, announced the appointment of John Hendrickson as group chief executive officer of StarStone Group, with immediate effect. He succeeds Demian Smith, who resigned in September...
P/C Insurers Double Net Income in First Half of Year
Oct 16 2018 // U.S. property/casualty insurers saw their net income after taxes more than double to $34 billion in first-half 2018 from $15.5 billion in first-half 2017, with the help of lower catastrophe losses, growing premiums, and an...
Softbank Plans Big Push into Insurance Investments
Oct 16 2018 // Softbank’s Vision Fund plans to pump more money into insurance, a sector it sees as both ripe for disruption and a potential booster for its bigger bets in cars, health and financial services, a Vision Fund executive...
Florida Orders Insurers to Halt Rate Hikes; Sets Up Hurricane Michael Claims Village
Oct 16 2018 // Florida’s insurance regulator has issued an emergency order that ensures “additional protections” to Florida policyholders – including freezing any rate hikes for 90 days – to support recovery efforts...
UK Insurers, Banks Need ‘Credible Plans’ for Climate Change Risks: Bank of England
Oct 15 2018 // Britain’s banks and insurers must come up with credible plans for protecting themselves against risks from climate change and may need to hold more capital, the Bank of England said on Monday. “Financial risks...
Market Changes Not Expected From Hurricane Michael; Florida Insurers ‘Heavily’ Reinsured
Oct 15 2018 // Losses to the insurance industry from Hurricane Michael, a Category 4 storm that hit the Florida Panhandle before continuing a path of destruction through several other Southeast states, will be substantial but not enough...
Insurtech Partnerships: What Insurers Want and Get
Oct 15 2018 // Remember the scene in the 1989 movie When Harry Met Sally? During lunch with Harry at a deli, Sally very publicly fakes a wild orgasm. A nearby patron, when asked what she’d like to order, signals in Sally’s...
Insurtech Pilots and Pivots: Learning by Doing and Undoing
Oct 15 2018 // “If you can’t admit a failure, you’re not an entrepreneur. You are not a good business person. There’s nothing brilliant about what you are doing.” –Mark Cuban Insurtechs are great for...
Texas Coastal Lawmakers Urge Denial of Windstorm Insurer’s Filed 10% Rate Hike
Oct 15 2018 // More than 20 state legislators have signed a letter addressed to Texas Insurance Commissioner Kent Sullivan requesting that a 10 percent rate increase filed by the state’s property insurer of last resort for wind and...
4 New Insurers OK’d to Do Business in Arkansas
Oct 12 2018 // Arkansas Insurance Commissioner Allen Kerr has approved four new out-of-state companies to sell insurance products in Arkansas. The Arkansas Insurance Department (AID) has granted Certificates of Authority to...
Wisconsin’s Burns Insurance Agency Joins Keystone Insurers Group
Oct 12 2018 // Keystone Insurers Group (Keystone) has named Burns Insurance Agency of Marshfield to its growing list of partners in Wisconsin. Burns Insurance Agency was established in May 2000 by Cindy Burns. Dan Burns joined the agency...
Insurers, Reinsurers Can Handle Hurricane Michael Losses: Fitch
Oct 12 2018 // The property/casualty re/insurance industry should be able to absorb the losses from Hurricane Michael, on top of losses from Hurricane Florence, as capital remains very strong, according to Fitch Ratings. Hurricane...
Enmity Erupts Between Former Private Equity Partners Over Lucrative Insurance Units
Oct 12 2018 // Nearly a decade ago, Imran Siddiqui helped engineer a shrewd maneuver for buyout mogul Leon Black’s Apollo Global Management LLC, one that’s yielded many millions for the firm. Then Siddiqui and Apollo parted...
A.M. Best: Insurer Losses from Hurricane Michael Will Be ‘Significant’
Oct 12 2018 // Insurers, reinsurers and ILS investors could face significant losses from Hurricane Michael, a major Category 4 storm that began its assault on the Florida Panhandle Wednesday, according to a briefing from A.M. Best. Best...
The IPCC Climate Change Report and Implications for Insurers
Oct 11 2018 // A report out earlier this week from the Intergovernmental Panel on Climate Change doesn’t say a whole lot about insurance, but the implications for the industry are hard to ignore. Chief among those implications is...
London Market Insurers’ Profits Remain Under Pressure with Excess Capacity: Fitch
Oct 11 2018 // The profitability of London market and Lloyd’s insurers is expected to remain under pressure in 2018, despite the fact that rates improved slightly following the catastrophe losses in the second quarter of 2017,...
Largest African Insurer Sanlam Completes Acquisition of Morocco’s Saham Finances
Oct 11 2018 // Sanlam Ltd., Africa’s largest insurer by market value, said it fulfilled all the conditions for the $1.1 billion purchase of the shares it doesn’t already own in Morocco’s Saham Finances SA after...
CoreLogic Estimates Hurricane Michael Losses Could Top $4.5B; Top 10 Insurers Affected
Oct 11 2018 // Hurricane Michael’s torrential rain, storm surge, and hurricane-force maximum sustained winds that reached 140 miles per hour Wednesday could result in a historically devastating event for the northeastern Gulf...
