Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
New Re/Insurer ‘Vantage Risk’ Launches, Led by Former Arch, AXA XL Executives
Dec 3 2020 // A new re/insurance group, called Vantage Group Holdings Ltd., has launched with $1 billion of equity capital, provided by private equity firms The Carlyle Group and Hellman & Friedman (H&F) as well as...
Insuring Cyber Podcast Episode 3: Underneath ‘the Tip of the A.I. Iceberg’ in Insurance
Dec 2 2020 // Powered by InsuranceJournal.tv Nearly 75% of respondents in a recent survey from the Coalition Against Insurance Fraud and Shift Technology said they believe that among relevant technology, artificial intelligence (A.I.)...
AmWINS Program Underwriters Announces New Carrier for Long-Term Care Facilities Program
Dec 2 2020 // CHARLOTTE, N.C. (December 2, 2020) – AmWINS Program Underwriters (“APU”) today announced a new carrier partnership to provide insurance solutions for APU’s Long-Term Care Facilities program, effective...
Insurers Looking Into Rise in Lawsuits Against Firms Over Lack of Diversity
Dec 1 2020 // U.S. insurers are taking a closer look at the recruiting and succession practices of corporate customers, worried about mounting lawsuits over a lack of diversity among top executives and directors, industry sources...
Liquidation Requested for Texas Nonstandard Auto Insurer, ACCC
Nov 30 2020 // An application for an order of liquidation has been filed in a Travis County, Texas, district court for a Houston-based nonstandard auto insurer now in receivership. With the agreement of its board of directors, ACCC...
Maryland’s Westminster American Insurance Company Hires Whelan
Nov 30 2020 // Westminster American Insurance Company (WAIC) has hired David Whelan as vice president of underwriting. In this new role, Whelan brings 31 years of commercial lines experience to the team. He joins WAIC from GNY Insurance...
Independent Film Productions Shut Down as Virus Insurance Is Hard to Find
Nov 30 2020 // For independent filmmakers, the Covid-19 pandemic has added a new hurdle to the already challenging task of lining up financing: finding insurance to cover virus-related interruptions. Lenders are demanding it, and...
Insurers Winning Most, But Not All, COVID-19 Business Interruption Lawsuits
Nov 30 2020 // In the multibillion-dollar fight over insurance coverage for pandemic-related business losses, a Florida gynecologist succeeded where more than a dozen professional baseball teams and an iconic Hollywood restaurant...
Established Insurers Could See Market Share Squeezed by Fintechs, EU Says
Nov 25 2020 // Established insurers will face a squeeze on profits and market share as new financial technology companies muscle in on the industry, a senior European Union official said on Wednesday. More fintech firms are expected to...
UK Insurer and Roadside Recovery Firm, AA Plc, Accepts Private Equity Offer
Nov 25 2020 // British roadside recovery company AA Plc agreed a sale to private equity groups Warburg Pincus International and TowerBrook Capital Partners on Wednesday, in a deal that digs a popular UK institution out of financial...
Usage-Based Insurer Metromile to Become Public Company
Nov 24 2020 // Metromile Inc., the pay-per-mile auto insurer, has reached a deal to go public by merging with Insu Acquisition Corp. II (Insu II), a special purpose acquisition company (SPAC). The merger will result in Metromile becoming...
UK Insurer Aviva Sells Stake in Italian Life Unit for $475 Million
Nov 24 2020 // Aviva Plc is selling its stake in its Italian life insurance joint venture for about 400 million euros ($475 million) as Chief Executive Officer Amanda Blanc continues her revamp of the firm. The insurer will sell its 80%...
Mississippi Casino Sues Insurer Westchester for Not Paying COVID-19 Loss
Nov 23 2020 // A Mississippi Gulf Coast casino has become one of many businesses nationwide to sue its insurer for refusing to cover business losses because of the coronavirus pandemic. Island View Casino Resort in Gulfport contends in...
Hamilton Launches New Bermuda Special Purpose Insurer Called ‘Ada Re’
Nov 23 2020 // Hamilton Insurance Group Ltd. announced the launch of Ada Capital Management Ltd., a Bermuda-regulated insurance agent authorized to underwrite on behalf of Ada Re, a new Bermudian special purpose insurer. Ada Re has...
Kemper to Pay $370M for Specialty Insurer Focused on Hispanic Market
Nov 23 2020 // Kemper Corp. has agreed to pay $370 million in cash for specialty auto insurer American Access Casualty Company and its related captive insurance agency, Newins Insurance Agency Holdings. Driving the deal: Growth potential...
What Congress Should Do, or Not Do, to Rescue Businesses in Future Pandemics
Nov 20 2020 // Congress is weighing whether insurers and government can together “bend pandemic risk curves” for future events or simply replace some of the economic losses of businesses, putting them “into induced...
South African Insurer Santam to Appeal COVID-19 Business Interruption Ruling
Nov 20 2020 // Santam said on Friday it would appeal against a court ruling that found South Africa’s largest non-life insurer liable to pay a client’s claim relating to a coronavirus lockdown. Like insurers in other...
Kentucky AGC Self-Insurers’ Fund to Return $18.5M In Dividends, Decrease Rates
Nov 20 2020 // The Kentucky Associated General Contractors Self-Insurers’ Fund, a workers’ compensation insurance provider in the state of Kentucky, will return more than $18.5 million, including special fund tax...
Generali Aims to Become Top Player in Asset Management
Nov 18 2020 // Italy’s top insurer Generali on Wednesday said it is aiming to become a top player in asset management after confirming its 2021 financial targets despite the pandemic. At an investor day on Wednesday, the insurer...
S&P Finds U.S. Insurers Made Modest Gains in Diversity Over Decade
Nov 18 2020 // The U.S. insurance industry has achieved only modest gains in increasing diversity over the last 10 years, according to government data compiled by S&P Global Market Intelligence. S&P found that the percentage of...
