Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Fortitude Re Forms Bermuda Multi-Line Reinsurer, Buys U.S. Life Insurer
Jan 7 2022 // Fortitude Re announced the formation of a Bermuda multi-line reinsurer and the acquisition of a U.S. life insurer. In addition, Fortitude Re’s subsidiary, Fortitude Reinsurance Co. Ltd. (FRL), Bermuda’s largest...
Insurance Companies Sue Texas Power Grid Operator Over 2021 Winter Storm Losses
Jan 7 2022 // More than 100 insurance companies are suing the Texas power grid operator and several power-generating companies (PGCs) over losses suffered from 2021 Winter Storm Uri, which resulted in more than 500,000 insurance claims...
Canada’s Insurers and Banks Rethink Return-to-Office Plans Amid Omicron Concerns
Jan 7 2022 // Canada’s top health official Theresa Tam has warned that COVID-19 cases in the country could jump in coming days, due to community spread of the Omicron variant. Concerns over the highly transmissible variant have...
UK Personal Lines Insurers Adjust to New Pricing Rules. Is Premium Volatility Ahead?
Jan 6 2022 // UK insurers are adjusting to new pricing rules for personal motor and household premiums, which could bring some pricing volatility in the coming months as insurers struggle with the implementation. The rules, which went...
AM Best Upgrades Financial Strength Rating of Atlantic Casualty Insurance Company to A+ Superior
Jan 5 2022 // OLDWICK – JANUARY 05, 2022 – AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa-” (Superior)...
Illinois Insurer Insolvency Office Hit by $6.8 Million Cyber Attack
Jan 4 2022 // The Illinois Office of the Special Deputy Receiver (OSD) was hit by a cyberattack last summer, resulting in millions of dollars in losses to two auto insurance agencies under liquidation, the Illinois Department of...
European Floods in Mid-July Cost Insurers $12B, Topping Non-U.S. Events in 2021
Jan 4 2022 // The most significant non-U.S. loss event in 2021 was the mid-July flooding in Western Europe, according to CRESTA, the Zurich-based insurance industry organization that provides a global standard for risk aggregation zones...
Insurers Report Jump in Catalytic Converter Thefts; New State Laws May Help
Jan 3 2022 // In the tiny town of Lawrenceville, Virginia, a van owned by Poplar Mount Baptist Church was knocked out of commission for weeks after thieves cut the catalytic converter out of its exhaust system. Several months later,...
2022 Means More Claims Data From Florida Insurers, Notification on Surplus Lines
Jan 3 2022 // New Florida laws and regulations that govern insurance matters took effect Sunday. Some are minor changes to existing laws, but others could affect insurers and agents for years to come. Here’s a look at some of the...
SafePoint to Assume 30K Louisiana Policies From Insolvent Insurers
Dec 30 2021 // SafePoint Insurance Co. will assume 30,000 Louisiana homeowners policies from two insolvent insurers, Insurance Commissioner Jim Donelon announced Dec. 29. The 19th Judicial District Court approved terms of the takeover,...
China Approves HSBC Acquisition of 100% of Insurer Joint Venture
Dec 30 2021 // HSBC said on Thursday it had received regulatory approval in China to take full ownership of its life insurance joint venture in the country, as it continues to expand its non-core banking services. HSBC has got clearance...
Trean Insurance Group Launches Arkansas E&S Carrier, Benchmark
Dec 29 2021 // Benchmark Insurance Company, subsidiary of Trean Insurance Group Inc. and a writer of program business, has formed a new excess and surplus lines subsidiary, Benchmark Specialty Insurance Company, an Arkansas domestic...
SiriusPoint Invests in Canadian Digital Life Insurer PolicyMe
Dec 29 2021 // SiriusPoint Ltd., the Bermuda-based global specialty insurer and reinsurer, has announced a strategic investment in PolicyMe Corp., a digital life insurance provider specializing in Canadian individual term life...
Aon Offers Last Mile Delivery Insurance Program in Partnership With CarrierHQ
Dec 28 2021 // Global insurance broker Aon and CarrierHQ, an Indianapolis-based portal for transportation fleets that offers insurance programs and other services, have launched Last Mile Delivery insurance program. The program provides...
Despite Slow Going, P/C Insurers Still Love Advanced Analytics. Except Maybe Telematics.
Dec 28 2021 // Although property/casualty insurance carrier executives and technical professionals remain bullish on the prospect that advanced analytics can enhance growth and bottom-line performance, implementation progress has been...
Nebraska Food Company, Insurer Sue for $423K over Spoiled Bacon Shipment
Dec 28 2021 // A Nebraska food company and its insurer want a warehouse company to pay them more then $400,000 because a shipment of bacon was destroyed inside one of its warehouses in Lincoln last year. Omaha food manufacturer Westin...
Italian Judge Drops Case Against Unipol CEO Over Merger With Insurer Fondiaria
Dec 27 2021 // An Italian judge on Thursday dropped a case against the CEO of Unipol and six other people related to the 2013 merger between Italy’s second-largest insurer and smaller rival Fondiaria-SAI, a judicial document seen...
Insurers Sanlam and Allianz Explore Options for Their African Businesses
Dec 22 2021 // JOHANNESBURG – African insurer Sanlam Ltd. said on Wednesday it was exploring “strategic alternatives” with Germany’s Allianz SE for their respective African businesses, excluding Sanlam’s home...
Title Insurer Stewart Acquires Midwest, Florida Title Firms
Dec 21 2021 // Stewart Information Services Corp. reported it has acquired firms in the Midwest and Florida as it continues to gain scale. Stewart has acquired Greater Illinois Title Co., which is headquartered in Chicago, and operates...
Tornadoes Have Pushed Insurers’ Weather Claims Above $105B for 2021
Dec 21 2021 // Devastation from tornadoes that slammed parts of the United States this month will push the insurance industry’s 2021 bill for weather-related claims well above the predicted $105 billion, industry experts said, and...
