Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
People Moves: NFP Appoints Markel’s Horsman as Head of Canadian National Broking; Insurer Openly Expands Reinsurance Division, Hiring Landi From Everest Re
Jun 3 2022 // This edition of International People Moves details appointments at the broker NFP and homeowners’ insurer, Openly. A summary of these new hires follows here. NFP Appoints Markel’s Horsman as Head of Canadian...
RoofClaim.com Fires Up Florida Insurers with Roof Financing Plan
Jun 3 2022 // RoofClaim.com, a name that has caused heartburn in the Florida insurance industry in recent years, announced that it is now offering no-money-down roof financing in the wake of insurance rate hikes, insurer insolvencies...
Washington Commissioner’s Draft Rule Would Require Insurers to Explain Premium Changes
Jun 1 2022 // Washington Insurance Commissioner Mike Kreidler shared a draft rule that requires all property/casualty insurers selling personal lines of insurance to give policyholders a simple breakdown of the reasons behind any future...
Global Re/insurers See Average Premium Increases of 11% in 1st Quarter: Gallagher Re
May 31 2022 // Premium growth during the first quarter saw an average increase of 11%, which was supported by continued favorable pricing for commercial insurance lines and reinsurance business, according to a report from Gallagher...
Insurer FWD Delays $1 Billion Hong Kong IPO: Sources
May 31 2022 // Asian insurer FWD Group has delayed its $1 billion Hong Kong initial public offering (IPO) because of volatile financial markets, according to three sources with direct knowledge of the matter. FWD declined to comment. The...
Dutch Insurer NN Group Expects to Accelerate Exit From Coal Investments
May 27 2022 // DAVOS, Switzerland – NN Group NV expects to accelerate its deadline to exit coal investments, now set at 2030, due to fears about Europe reverting to burning the fossil fuel, the Dutch insurer’s CEO David Knibbe...
It Is Time for Insurers to Meet Needs of Tech Driven Businesses
May 25 2022 // To describe the past couple of years as tumultuous is something of an understatement. The global pandemic overlaid with hard market conditions in many insurance classes has kept many in our industry awake at night. The...
Insurers, Banks Must Take Climate Action or Face Profit Hit, Higher Capital Charges: BOE
May 24 2022 // LONDON – Banks and insurers that fail to manage climate risks as a “first-order” issue could face a 10% to 15% hit to annual profits and higher capital requirements, the Bank of England (BoE) said on...
Munich Re Issues Green Bond in U.S. Market, in a First for a European Insurer
May 24 2022 // Following its successful placement of green bonds in 2020 and 2021, Munich Re has successfully placed its first green subordinated bond in a private placement to qualified institutional buyers in the U.S. market. By...
Insurer Aspen Completes $3.12B Loss Portfolio Transfer With Run-Off Specialist Enstar
May 23 2022 // Enstar Group Ltd., the Bermuda-based legacy acquisition specialist, has completed a previously announced loss portfolio transfer agreement (LPT) with Aspen Insurance Holdings Ltd. and its subsidiaries for their 2019 and...
Insurer FWD Wins Approval for Hong Kong IPO
May 23 2022 // FWD Group Holdings Ltd., the Asian insurer backed by Hong Kong billionaire Richard Li, has won approval for its planned initial public offering in the city, according to a person with knowledge of the matter. The company...
Memo to Brokers: Stick With Loyal Insurers/MGAs, Price Isn’t the Only Differentiator
May 23 2022 // Instead of oscillating between extreme hard and soft markets, the insurance industry needs to promote a more sustainable business model that will help control the insurance cycle, according to an executive at the insurer...
Florida DFS Posts Autopsy Reports on 18 Insolvent Insurers, 2012-2017
May 23 2022 // A week after a Florida news report pointed out that few people seem to know that post-insolvency autopsies are required by law, the state Department of Financial Services has posted 18 of the reports for property insurers...
YES and No: New York’s Yankees Network Sues Insurer to Recover COVID Losses
May 23 2022 // Yankees Entertainment and Sports Network (YES), the broadcasting company for the New York Yankees, New York Nets and other area sports teams, is suing its insurer, Hartford Fire Insurance Co., for denying its claims for...
Markets/Coverages: Maryland’s Residual Insurer Ups Limits for Commercial Drivers
May 20 2022 // Maryland’s auto insurance market for drivers that private insurers won’t cover has received approval to offer combined single limits coverage up to $1 million for eligible businesses and vehicles. Maryland Auto...
Insurers Too Late for Subrogation in Auto Parts Price-Fixing Case, Court Rules
May 20 2022 // Insurers waited too long to intervene in anti-trust litigation that brought settlements requiring dozens of auto parts manufacturers to pay a total of $1.2 billion to resolve price-fixing allegations, a panel of the U.S....
North Carolina Judge Orders Lindberg to Give Up Control of Firms to Repay Insurers
May 19 2022 // A North Carolina court has ordered jailed insurance and business entrepreneur Greg Lindberg to relinquish control of hundreds of his firms in a plan to salvage four of his insurance companies. The judge in Wake County...
UK Insurer Aviva May Be Able to Return More Cash to Shareholders: CEO
May 18 2022 // Aviva may be able to give more cash back to shareholders, its chief executive said on Wednesday, as the British insurer reported a 5% increase in general insurance sales in the first quarter and said its capital position...
Starr Insurance Cos. Acquires Thai Non-Life Insurer
May 18 2022 // Starr Insurance Cos. announced an agreement with FPG Insurance Holdings Ltd. (HK) and local Thai shareholders to purchase FPG Insurance Public Co. Ltd. (FPG Thailand), a Thai non-life insurance company. Starr’s...
Three More Florida Insurers Asking for Big Rate Hikes at Hearings
May 17 2022 // The Florida Office of Insurance Regulation held hearings Tuesday on major rate increases from three more property insurers: Florida Farm Bureau, First Floridian, and Kin Interinsurance Network. The Kin and First Floridian...
