Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Policy Doesn’t Obligate Insurer to Cover Prevention Costs. Should Common Law?
Jun 13 2022 // A salad dressing maker is seeking coverage from its insurer for costs it incurred in preventing a shutdown of one of its processing plants due to a pollution event. Massachusetts-based Ken’s Foods maintains its...
African Insurers and Banks Form Alliance to Tackle Biodiversity Crisis
Jun 10 2022 // Many of Africa’s biggest banks and insurers have joined forces to tackle the continent’s biodiversity crisis while at the same time working out how to cash in on opportunities arising from it. The African...
World’s Biggest Re/Insurers Expanding in Africa, but Climate Change Could Hit Profits
Jun 10 2022 // The world’s biggest insurers are expanding in Africa, looking to tap growth promised by a rising population and middle class, but climate change could complicate their quest for profits. With Western markets...
Insurers, Self-Insureds Now Facing $9B in Black Lung Liabilities, Milliman Says
Jun 9 2022 // The U.S. coal industry may be shrinking rapidly as the country shifts to renewable energy, but insurers’ and self-insured companies’ liabilities for black lung occupational disease claims have ballooned – to...
Insurers Must Be Better Prepared for Impact of Climate Change: BoE
Jun 8 2022 // Insurers need to plug data gaps to be better prepared for the impact of climate change on their operations and further work may be needed on how much capital they should hold, the Bank of England (BoE) said on...
Mauritius’ Biggest Insurer Seeks to Expand Market Share in East Africa
Jun 7 2022 // Mauritius’s biggest insurer, having won a $10 million investment from France’s Proparco this month, is aiming for a 10% market share in a number of East African markets after outgrowing its Indian Ocean island...
Homeowners Can Record Insurance Company Adjusters’ Inspections, Florida Court Says
Jun 7 2022 // Homeowners and public adjusters may now feel a little more emboldened to record an insurance adjuster’s inspection of a home, after a Florida appeals court ruled in favor of the practice last week – the third such...
Global Re/insurers See Average Premium Increases of 11% in Q1
Jun 6 2022 // Premium growth during the first quarter of 2022 saw an average increase of 11%, which was supported by continued favorable pricing for commercial insurance lines and reinsurance business, according to a report from...
Memo to Brokers; Stick With Loyal Insurers/MGAs, Price Isn’t the Only Differentiator
Jun 6 2022 // Instead of oscillating between extreme hard and soft markets, the insurance industry needs to promote a more sustainable business model that will help control the insurance cycle, according to an executive at the insurer...
Munich Re Issues Green Bond in U.S. Market — a First for European Insurer
Jun 6 2022 // Following its successful placement of green bonds in 2020 and 2021, Munich Re has sucessfully placed its first green subordinated bond in a private placement to qualified institutional buyers in the U.S. market. By issuing...
People Moves: NFP Appoints Markel’s Horsman as Head of Canadian National Broking; Insurer Openly Expands Reinsurance Division, Hiring Landi From Everest Re
Jun 3 2022 // This edition of International People Moves details appointments at the broker NFP and homeowners’ insurer, Openly. A summary of these new hires follows here. NFP Appoints Markel’s Horsman as Head of Canadian...
RoofClaim.com Fires Up Florida Insurers with Roof Financing Plan
Jun 3 2022 // RoofClaim.com, a name that has caused heartburn in the Florida insurance industry in recent years, announced that it is now offering no-money-down roof financing in the wake of insurance rate hikes, insurer insolvencies...
Washington Commissioner’s Draft Rule Would Require Insurers to Explain Premium Changes
Jun 1 2022 // Washington Insurance Commissioner Mike Kreidler shared a draft rule that requires all property/casualty insurers selling personal lines of insurance to give policyholders a simple breakdown of the reasons behind any future...
Global Re/insurers See Average Premium Increases of 11% in 1st Quarter: Gallagher Re
May 31 2022 // Premium growth during the first quarter saw an average increase of 11%, which was supported by continued favorable pricing for commercial insurance lines and reinsurance business, according to a report from Gallagher...
Insurer FWD Delays $1 Billion Hong Kong IPO: Sources
May 31 2022 // Asian insurer FWD Group has delayed its $1 billion Hong Kong initial public offering (IPO) because of volatile financial markets, according to three sources with direct knowledge of the matter. FWD declined to comment. The...
Dutch Insurer NN Group Expects to Accelerate Exit From Coal Investments
May 27 2022 // DAVOS, Switzerland – NN Group NV expects to accelerate its deadline to exit coal investments, now set at 2030, due to fears about Europe reverting to burning the fossil fuel, the Dutch insurer’s CEO David Knibbe...
It Is Time for Insurers to Meet Needs of Tech Driven Businesses
May 25 2022 // To describe the past couple of years as tumultuous is something of an understatement. The global pandemic overlaid with hard market conditions in many insurance classes has kept many in our industry awake at night. The...
Insurers, Banks Must Take Climate Action or Face Profit Hit, Higher Capital Charges: BOE
May 24 2022 // LONDON – Banks and insurers that fail to manage climate risks as a “first-order” issue could face a 10% to 15% hit to annual profits and higher capital requirements, the Bank of England (BoE) said on...
Munich Re Issues Green Bond in U.S. Market, in a First for a European Insurer
May 24 2022 // Following its successful placement of green bonds in 2020 and 2021, Munich Re has successfully placed its first green subordinated bond in a private placement to qualified institutional buyers in the U.S. market. By...
Insurer Aspen Completes $3.12B Loss Portfolio Transfer With Run-Off Specialist Enstar
May 23 2022 // Enstar Group Ltd., the Bermuda-based legacy acquisition specialist, has completed a previously announced loss portfolio transfer agreement (LPT) with Aspen Insurance Holdings Ltd. and its subsidiaries for their 2019 and...
