Berkshire Hathaway’s GEICO insurance plans to open a new campus in Tampa late this summer, bringing more than 1,000 jobs to the area. The property and auto insurer also plans to open an office in the Dallas area by this …
Ahoy! Insurance, calling itself an insurance company built by boaters for boaters, has expanded into Florida, one of the world’s largest recreational boating markets. The excess and surplus lines broker was founded in 2021 by Amit Nisenbaum, a former Israeli …
Two Florida-based insurance companies are expanding their product lines, another sign that insurers are making more – if limited – moves into a warming market in the state. Amelia Underwriters, a wholesale and surplus lines broker based in Fernandina Beach, …
Orion180 has announced its expansion into the Buckeye State. According to a press release, the company now offers homeowners insurance services and coverage in Ohio through Orion Select Insurance Co., Orion180’s admitted insurance carrier. Orion180 also operates in Alabama, Arizona, …
Persistently strong underwriting performance during and after the global pandemic – despite substantial economic and capital markets volatility – has prompted AM Best to maintain its “stable” outlook for the US property/casualty commercial lines segment. Premium rates for most of …
Everest Insurance, the insurance division of Everest Group Ltd., has launched a dedicated U.S. Wholesale and Programs Division to serve the distinct and evolving needs of this market. “This dedicated offering reflects Everest’s decades of experience and exceptional support for …
The U.S. homeowners insurance segment has been hit with three consecutive years of net underwriting losses as a result of above-average numbers of natural catastrophes, inflationary pressures and elevated reinsurance costs. These market headwinds have led AM Best to revise …
U.S. property/casualty insurers that focused on difficult to place risks distanced themselves from their peers in key metrics measuring earnings, underwriting profitability, balance sheet growth and other indicators of success, according to S&P Global Market Intelligence. Kinsale Insurance Co., the …
Seventeen U.S. property/casualty insurance companies became impaired in 2021, with seven of the impairments driven by catastrophe losses from hurricanes, primarily in Louisiana and Florida, according to an AM Best report. In addition to the five Louisiana-domiciled companies and two …
NEXT Insurance and Thimble are the latest insurtechs to lay off part of their workforce this year, with NEXT citing challenging economic conditions and both insurtechs pointing to an increased focus on profitability. NEXT laid off 17% of its workforce …
