Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Trenton Diocese Sues Four Insurers Over Coverage for Child Victim Claims
Feb 13 2025 // The Catholic Diocese of Trenton, New Jersey has sued its liability insurers over their alleged “failure and refusal” to agree upon a cost-sharing formula to deal with hundreds of sexual abuse claims brought...
California Approves FAIR Plan Request to Assess Insurers $1B for Wildfire Claims
Feb 11 2025 // California Insurance Commissioner Ricardo Lara approved a California FAIR Plan request for a $1 billion assessment on admitted market insurers to cover claims from the Los Angeles wildfires. The FAIR Plan reported it has...
Insurers Pay Record Claims for Weather-Related Damage in UK: ABI
Feb 11 2025 // Insurers paid out a record £585 million (US$724.7 million) for weather-related damage to people’s homes and possessions in 2024 in the United Kingdom, according to the latest data from the Association of British...
China Frees Possible $27 Billion From Insurers to Buy Gold
Feb 10 2025 // A pilot program in China that allows insurers to buy gold for the first time could free up billions of dollars of investment in the metal, adding further impetus to a record-setting rally. Prices hit a fresh peak. Ten...
China Asks Insurers to Manage Sufficient Capital and Liquidity Buffers
Feb 10 2025 // China’s National Financial Regulatory Administration on Saturday issued guidelines for insurance groups to manage “concentration risks,” asking insurers to hold sufficient capital and liquidity...
UMass Pays Out $10K After Tiff With Insurer Over Student’s Prize for Half-Court Shot
Feb 9 2025 // UMass said it would pay a student the $10,000 prize for a halftime promotion at a women’s basketball game after a dispute with an insurance company over whether he stepped over the line when he made a half-court...
Britain’s L&G Sells US Protection Unit to Japanese Insurer for $2.3 Billion
Feb 7 2025 // Legal & General said on Friday it would sell its U.S. protection business to Japan’s Meiji Yasuda for $2.3 billion in cash and said the Japanese firm would take a 5% stake in the British insurer, in the biggest...
Avolon, BOC Settle Lawsuit Against Insurers Over Stranded Russian Jets
Feb 7 2025 // Avolon and BOC Aviation, two of the world’s largest aircraft lessors, have settled lawsuits in the Irish courts against insurers over jets stranded in Russia following Western sanctions in 2022, they said on...
AM Best Downgrades Title Insurer’s Ratings
Feb 7 2025 // AM Best has downgraded Connecticut Attorneys Title Insurance Co. (CATIC) of Essex Junction, Vermont. The company’s Financial Strength Rating has been downgraded to to B (Fair) from B++ (Good) and the Long-Term Issuer...
USAA Becomes 3rd Insurer to Report $1B-Plus in Claims So Far for LA Wildfires
Feb 5 2025 // USAA has paid out more than $1 billion for the Los Angeles wildfires, making it the third insurer to report $1 billion or more in payouts for the destructive blazes that burned thousands of properties. The company, which...
Allianz, IAG Said to Mull Bids for Top Western Australia Insurer
Feb 5 2025 // Insurance firms Allianz SE and Insurance Australia Group Ltd. are among parties considering bidding for Western Australia’s top insurer, according to people familiar with the matter. Allianz and IAG are mulling the...
Viewpoint: Delegated Underwriting Authority Enterprises Offer Insurers Competitive Edge
Feb 4 2025 // The growing adoption of data-driven underwriting and predictive analytics has given delegated underwriting authority enterprises (DUAEs) a competitive advantage within the insurance industry, with technology serving as a...
Insurer Seeks to Exit $30 Million Wrongful Death Lawsuit Over Boy’s Fatal Shooting
Feb 4 2025 // An insurance company says it is not obligated to defend or indemnify the owners and managers of a Memphis apartment complex who are facing a $30 million wrongful death lawsuit stemming from the fatal shooting of a 14-year...
Mangrove, Florida’s Newest Home Insurer, Receives Demotech Rating
Feb 3 2025 // Brand new Florida home insurer Mangrove Property Insurance Co. has received a Financial Stability Rating (FSR) of “A, Exceptional” from Demotech, Inc., a financial analysis firm that specializes in rating...
Brazil Insurer Porto Seguro Eyes Partners for Health Business, Sources Say
Jan 31 2025 // Brazilian insurance group Porto Seguro is in talks with private equity funds to possibly sell a minority stake in its health business, with discussions focusing on the strategic advantages of potential partners and...
Europe’s Insurers May Face New Capital Rules for Climate Risk
Jan 31 2025 // Europe’s insurance watchdog has called for a recalibration of capital requirements to reflect rising climate-driven disasters across the continent. The European Insurance and Occupational Pensions Authority is...
AIG’s Hancock to Lead Global Personal Lines as Insurer Restructures Businesses
Jan 28 2025 // American International Group (AIG) said it is organizing into three segments and Jon Hancock will lead two of them. Jon Hancock Hancock will continue to lead AIG’s international commercial business and will also take...
Mangrove, Another New Property Insurer, Enters Florida Market
Jan 27 2025 // Itasca Re chairman Stephen Weinstein has launched a new Florida-domiciled insurance carrier, known as Mangrove Property Insurance, with plans to assume thousands of policies from Citizens Property Insurance Corp. Mangrove,...
‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association
Jan 24 2025 // A January 2025 report from the Geneva Association, titled “Insurance in a Fragmented World Economy,” found that geopolitical tensions have driven the global economy toward “geoeconomic...
Banks Have Unfair Edge Over Insurers in M&A Race: NN CEO Says
Jan 23 2025 // A top European insurance executive slammed a piece of regulation that has emerged as key driver behind a recent slate of asset management acquisitions by banks. The rule known as Danish Compromise gives the region’s...
