Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
FWD Mulls Options for $10 Billion Insurer After IPO Delay, Sources Say
Feb 15 2024 // FWD Group Holdings Ltd., the Asian insurer controlled by billionaire Richard Li, is considering options including a potential stake sale after delaying a planned initial public offering, according to people familiar with...
Canadian Insurer Fairfax Denies Allegations of Asset Value Manipulation
Feb 13 2024 // Fairfax Financial on Monday denied allegations by Muddy Waters Research that the Canadian insurer was manipulating asset values, saying the short-seller’s report was “false and misleading.” The detailed...
Some Insurers Suspend Sales of Car Policies After UK Watchdog Again Intervenes
Feb 9 2024 // Britain’s financial watchdog said on Friday several insurers have agreed to suspend sales of policies that cover the depreciation of cars after it said it was worried the deals did not offer value for money. The...
Muddy Waters Shorts Canada Insurer Fairfax Financial, Alleging Asset Value Manipulation
Feb 8 2024 // Short seller Muddy Waters has placed bets against the shares of Canadian insurer Fairfax Financial alleging manipulation in its asset values. Shares of the property and casualty insurer sank 12% on Thursday, and set for...
Florida Specialty Insurer Fortegra Shelves IPO Plans at the Last Hour
Feb 7 2024 // Jacksonville-based specialty insurer Fortegra Group has withdrawn its plans for an initial public offering in the United States, just hours before the IPO and nearly three years after the company scrapped its earlier...
West Coast Insurers Warned of Billions in Losses Over Climate-Linked Investments
Feb 6 2024 // A new report warns insurance companies could face billions of dollars in losses if they stay on the current course of investments that contribute to climate change, at “a scale exceeding some of the worst wildfires...
Lex Greensill’s Fraud Means Zurich Can’t Payout $400 Million, Insurer Argues
Feb 6 2024 // Lex Greensill’s fraud and “conspiracy” with commodities tycoon Sanjeev Gupta should prevent the financier’s collapsed bank from making a $400 million claim, Zurich Insurance Group said in a London...
Report: Top AI Trends for Insurers in 2024 Include Claims, Other Insurance Processes
Feb 5 2024 // Insurers are prepared for artificial intelligence to move beyond task automation and machine learning to advanced uses in 2024, a new report examining the industry and how it’s using AI shows. The report from...
10 Largest Auto Insurers Each Raised Rates by Double Digits in 2023
Feb 5 2024 // According to S&P Global Market Intelligence’s RateWatch, Farmers Insurance instituted double-digit rate increases in 43 states in 2023 for a weighted average rate increase of 17.6% — and its private-auto...
Survey: Carrier Connectivity Top of Mind for Agents
Feb 5 2024 // Agents continue to favor carriers and MGAs that offer automation, ranking ease of doing business and time savings at the top of the list of value they get from connectivity, according to a newly released survey by...
California’s Homeowners Insurance Shift: Population, Inflation and Admitted Insurer Exits
Feb 5 2024 // The excess and surplus lines homeowners insurance market in California has undergone significant changes in recent years. The number of policies has changed substantially in over the last decade — first increasing,...
Move to End Georgia’s Direct-Action Lawsuits vs. Trucking Insurers Gaining Steam
Jan 31 2024 // This year could be the year that Georgia joins most other states and repeals its direct-action law that has reportedly caused severe problems for trucking companies needing liability insurance. Several Georgia Republican...
Appeals Court Rules Insurers Not Obligated to Defend Opioid Distributor McKesson
Jan 31 2024 // The role drug distributor McKesson Corp. had in the opioid crisis was no accident, meaning the company is not entitled to defense costs related to litigation against it. McKesson Corp. appealed a district court’s...
Banks, Insurers Set to Lose Reprieve From EU’s Toughest ESG Rule
Jan 30 2024 // Financial firms in the European Union look set to be hit by a new ESG requirement that they lobbied hard to avoid. The European Parliament and the European Council are moving toward an agreement that banks, asset managers...
Climate Change Poses Significant Risk for South African Insurers: Old Mutual
Jan 29 2024 // Climate change poses the most significant threat for South African insurance companies and risks raising premiums and the cost of reinsurance, a top official at its biggest insurer by assets said. After staying almost flat...
WV Supreme Court Denies Insurers’ Appeal in Chlorine Leak that Damaged Plant
Jan 26 2024 // A group of 12 insurance companies cannot yet appeal a trial court’s finding that contamination exclusions did not bar coverage for a chemical plant that was damaged when 90 tons of liquid chlorine leaked from a...
Empire State Building Lands New York Insurer With Lease for Full Floor
Jan 26 2024 // Greater New York Mutual Insurance Co. signed a lease at the Empire State Building. GNY Mutual, which currently has offices on Madison Avenue, agreed to a 17-year deal for a full floor at the famous New York tower, with...
After $70 Billion Hit, Insurers Wake Up to Growing Risks of Severe Convective Storms
Jan 25 2024 // The insurance industry is grappling with a new kind of weather risk that’s increasingly driving its biggest loss category. While no single weather event caused more than $10 billion in losses for insurers last year,...
US Insurers Optimistic, Open to Take More Investment Risk in 2024: Conning
Jan 24 2024 // Most U.S. insurers plan to take on more investment risk in 2024, and said the risks associated with the use of artificial intelligence (AI) in the investment process are outweighed by the potential benefits of the...
Florida to Borrow Billions to Backstop Insurers After Hurricanes
Jan 23 2024 // The state corporation that oversees the Florida Cat Fund is planning to borrow as much as $3.8 billion to ensure the fund has plenty of money on hand to reimburse property insurers for losses when homes are damaged or...
