Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
France’s AXA to Acquire P/C Insurer XL Group for $15.3 Billion
Mar 4 2018 // AXA SA agreed to buy XL Group Ltd. for $15.3 billion in cash, seeking to capture a bigger slice of the U.S. property and casualty market as premiums rise after last year’s natural disasters. The French insurer is...
Virginia’s Kinsale Insurance Company Promotes Muntean
Mar 2 2018 // Kinsale Insurance Company, a Richmond, Va.-headquartered specialty insurance group focused on the excess and surplus lines market, has promoted Victoria Muntean to division manager of its Products Liability Division,...
Agent and Carrier Strategies and the Future of Cyber Insurance
Mar 2 2018 // More than 20 years ago, Steven Haase wrote the first cyber insurance policy. Haase told Insurance Journal the story of how that first policy came about in the first part of this report, What Agent Who Wrote First Cyber...
Insurer AmTrust Unveils $2.7 Billion Plan to Go Private
Mar 1 2018 // As promised last month, the majority shareholders of AmTrust Financial Services Inc. have set forth a $2.7 billion plan to take the insurer private. The deal is being funded by founding family members and shareholders...
Insurance Company Gives Delaware $325K in Grants for Opioid Crisis
Mar 1 2018 // An insurance company has given four Delaware organizations $325,000 in grants to combat the state’s opioid crisis. The News Journal of Wilmington reports Highmark Delaware President Tim Constantine announced the...
20-Plus Insurers, Banks & Fund Firms Select Luxembourg as Post-Brexit HQs
Mar 1 2018 // More than 20 major international institutions chose to set up all or part of their activities in Luxembourg last year, the country’s financial development agency said on Thursday, linking the decisions to...
More Than $8M Recovered for Georgia Insurance Consumers in 2017
Mar 1 2018 // More than $8 million was secured for thousands of individuals, families, and businesses who filed complaints against insurance companies in 2017 through help from the Georgia Insurance Commissioner’s Office,...
Verisk Launches New Energy Insurance Platform for Insurers
Mar 1 2018 // Verisk, a data analytics provider, has launched Energy & Power Intelligence Xchange (EPIX), a benchmarking and risk-scoring platform designed to enhance how insurers research, assess, and underwrite complex energy...
Europe’s Storm Friederike (aka David) to Cost Insurers €1.5B (US$1.8B): PERILS
Feb 28 2018 // The initial insured price tag for Extratropical Cyclone Friederike, also known as David, is an estimated €1.5 billion (US$1.8 billion), according to PERILS, the independent Zurich-based organization that provides...
Demotech Holds-Off on Affirming ‘A’ Ratings for 16 Florida Insurers
Feb 28 2018 // A company that rates many Florida property/casualty insurers believes hurricane losses and assignment of benefits litigation during 2017 could affect some insurers’ financial ratings. Ratings company Demotech says it...
D&O Insurers Warned on Competitive Pricing, Troubling Claims Trends
Feb 26 2018 // Property/casualty insurers in the directors and officers (D&O) liability insurance market may find it more difficult to maintain underwriting performance in 2018 than in recent years, according to Fitch Ratings, as...
Berkshire’s 14-Year Insurance Win Streak Comes to an End
Feb 26 2018 // Warren Buffett’s Berkshire Hathaway’s combination of insurance entities have recorded 14 consecutive years of underwriting profit worth more than $28 billion. The Oracle from Omaha has repeatedly warned his...
Medical Marijuana Gaining Favor as Treatment in Workers’ Compensation
Feb 23 2018 // Though states and the federal government remain at odds on marijuana legalization, the drug is gaining traction as a viable treatment in workers’ compensation claims. In a recent discussion with Claims Journal, Brian...
UK Marine Insurer Steamship Mutual Chooses Netherlands for Post-Brexit HQ
Feb 22 2018 // British ship insurer Steamship Mutual plans to set up a new Dutch subsidiary to ensure continued access to trade in the European Union in case Britain loses single market access. “We are about to apply for a license...
U.S. Supreme Rules Against Insurer’s Appeal Challenging Profits in Rate Setting
Feb 20 2018 // The U.S. Supreme Court on Tuesday declined to hear Mercury Insurance Co.’s appeal to overturn a February 2017 California Court of Appeal ruling that held Insurance Commissioner Dave Jones’ 2013 order requiring...
Safeco to Take Up Mapfre’s Tennessee, Kentucky, Indiana Business
Feb 20 2018 // MAPFRE Insurance, which last year decided to exit five states and focus on 11, is turning over its personal lines business in three of the five states it is leaving to Safeco Insurance, a Liberty Mutual unit. MAPFRE has...
Former Colorado Police Officer Sentenced for Defrauding Homeowners Insurer
Feb 20 2018 // A former Colorado police officer has been sentenced to 45 days in jail and five years of probation for felony insurance fraud. The Post Independent reported that ex-Silt police Col. Michael Taylor was also ordered to pay...
Insurance Industry Hiring Stabilizes; Key Jobs Remain Difficult to Fill: Study
Feb 20 2018 // Fifty-eight percent of insurance companies plan to increase staff during the next 12 months in part due to expected increase in business and new markets, according to the Semi-Annual U.S. Insurance Labor Outlook Study...
South Carolina Notifies Insurers of Workers’ Comp Loss Cost Updates, Filing Requirements
Feb 19 2018 // South Carolina has alerted insurers of several changes to loss costs for the state’s voluntary and assigned risk workers’ compensation markets and has issued a requirement that updated loss cost multipliers be...
Satisfied Independent Agents Are Growth Engines for P/C Carriers: J.D. Power
Feb 19 2018 // Despite the growth of both technology-based and direct-to-customer sales channels in the property/casualty (P/C) insurance industry, independent agents still control the lion’s share of P/C premiums and represent a...
