APCIA, IBHS Testify Before Senate Committee on Loss Mitigation May 2, 2025 By Chad Hemenway During a Senate committee hearing focusing on insurance and loss mitigation efforts, industry representatives said that all levels of government...
Berkshire Outguns Market as Buffett Reaches 60 Years in Charge May 2, 2025 By Jonathan Stempel Berkshire Hathaway BRKa.N has held up well in a rocky year for stocks, and shareholders this weekend will be seeking...
AIG Q1 Underwriting Income More Than Halved on Wildfire Losses May 1, 2025 By Chad Hemenway First quarter underwriting income in AIG’s General Insurance segment dropped 59% compared to last year, to $243 million. The unit—North...
People Moves: SmartChoice Chooses Caldwell as CEO; Griffin Promoted to Zurich US Head of Multinational Underwriting; Burns & Wilcox Names New York, Chicago Leaders May 1, 2025 SmartChoice Names Caldwell CEO Smart Choice, headquartered in Greensboro, North Carolina, restructured its executive leadership, naming Andrew Caldwell as CEO,...
The Hanover Reports 11% Growth in Q1 Net Income May 1, 2025 By Chad Hemenway First quarter net income for The Hanover Group grew to $128.2 million compared to $115.5 million during the same period...
Business Moves: CRC Group Acquires ARC in E&S Deal May 1, 2025 Independent insurance wholesaler CRC Group said it has acquired specialty wholesale distributor ARC Excess & Surplus. Terms were not disclosed....
Countries Shore Up Digital Defenses as Global Tensions Raise Cyberwarfare Threat May 1, 2025 By David Klepper Hackers linked to Russia’s government launched a cyberattack last spring against municipal water plants in rural Texas. At one plant...
Buyer’s Remorse Hits Finance Bosses Who ‘Overhired’ for ESG May 1, 2025 By Gautam Naik There’s a course-correction underway among financial firms that went all out on ESG hiring just a few years back, according...
Allstate Q1 Income Drops 52% on Record $3.3B Gross Catastrophe Losses May 1, 2025 By Chad Hemenway Allstate Corp. first quarter 2025 net income applicable to common shareholders fell more than 52% to $566 million primarily due...
Insured Losses Could Hit $145B in 2025, Driven by Rising Claims From Secondary Perils April 30, 2025 By L.S. Howard Global insured losses from natural catastrophes hit US$137 billion in 2024, following the 5%-7% annual growth rate that has been...