Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
UK Insurer Aviva to Sell Singlife Joint Venture Stake for $1 Billion
Sep 13 2023 // Aviva is quitting its Singlife joint venture, selling its 25.9% stake in Singapore Life Holdings and two debt instruments to Sumitomo Life for a combined 800 million pounds ($997 million), the British insurer said on...
China Relaxes Rules for Insurers to Invest in Stock Markets
Sep 12 2023 // China’s financial regulator on Sunday reduced the risk weighting it attaches to insurance companies’ holdings of blue-chip shares and tech stocks, encouraging them to invest more in the country’s lagging...
Non-Life Insurers’ Profits to See Boost From Higher Rates
Sep 11 2023 // Non-life insurers are set to significantly improve their profitability in the next few years as investment returns from higher rates cushion a hit from a rise in claims, a report by Swiss Re Institute showed on...
P/C Insurers Set to Significantly Improve Profitability Even as Claims Rise: Study
Sep 11 2023 // Non-life insurers are set to significantly improve their profitability in the next few years as investment returns from higher rates cushion a hit from a rise in claims, a report by Swiss Re Institute showed on...
Insurers Cheated Out of Millions in False Claims for Lost or Damaged Cell Phones
Sep 6 2023 // A Newark, New Jersey man has admitted that he conspired with others to defraud telephone providers and insurance companies out of millions of dollars by using stolen or fake identities to submit fraudulent claims for...
How Life Insurance Carriers Can Win at the Long Game of Annuity Broker Recruitment
Sep 6 2023 // This post is part of a series sponsored by AgentSync. Life insurance carriers that don’t prioritize compliance and onboarding for their variable lines brokers will lose traction in the life and annuities market over...
Florida Regulators Remind Insurers to Take Care of Insureds as Claims Come in
Sep 5 2023 // The property insurance industry breathed a sigh of relief after Hurricane Idalia landed in a less-populated part of the coast, but regulators have signaled a need to make sure that claims from the area, now topping 10,000,...
Private Flood Insurers See Opportunity as NFIP Increases Rates
Sep 4 2023 // While the National Flood Insurance Program (NFIP) rolls out a new rating program generating premium increases for many policyholders, the private flood insurance market has seized the opportunity to grow its market share...
Rate Hikes Not Bringing Profit to US Auto Insurers: Fitch
Sep 4 2023 // Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers, Fitch Ratings reported based on a recent review of midyear results of nine big market...
More Signs of Life in Florida: New Insurers, More Citizens Takeouts
Sep 4 2023 // Florida’s property insurance market is showing more signs of life, with another company requesting a large takeout order from Citizens Property Insurance and two new companies entering the arena in...
Judge Orders Camden Diocese to Rework Bankruptcy Plan After Insurers’ Complaints
Sep 1 2023 // The Catholic Diocese of Camden, New Jersey must rework its bankruptcy plan to better protect insurers from invalid and inflated sexual abuse claims and unreasonable attorneys’ fees. Citing some concerns raised by...
Coal Producers Forced to Self-Insure as They Are Cut Adrift by Insurers
Aug 31 2023 // Some coal producers are having to set aside tens of millions of dollars to cover their own risks as they are cut adrift by insurers, making it more difficult and costly to do business amid a surge in demand for the fossil...
Dutch Insurer NN Says Extreme Weather May Make Further Premium Hikes Unavoidable
Aug 30 2023 // Dutch insurer NN Group NV may increase premiums further as extreme weather patterns become more prevalent, Chief Executive Officer David Knibbe said. While NN benefited from benign weather conditions in the first half of...
Car Premiums to Rise Again as British Insurers Feel the Heat
Aug 30 2023 // Motorists in Britain should brace for another year of steep insurance rises as providers confront cost pressures, industry figures have warned. Admiral Group Plc will continue increasing motor insurance prices and expects...
Lufthansa Weighs Sale of Aviation Insurance Broker, Insurer: Sources
Aug 30 2023 // Deutsche Lufthansa AG, the German airline, is looking to sell its insurance brokerage unit Albatros and insurance business Delvag, according to people familiar with the matter. The country’s largest carrier is...
Libor Zombies Pit Hedge Funds Against Banks, Insurers in High-Stakes Feud
Aug 28 2023 // One of the most lucrative, and contentious, trades of 2023 has emerged in an obscure corner of financial markets, minting overnight profits for the hedge fund crowd of as much as 35%. The play: Load up on 1980s-era bank...
Appeals Court Blasts Insurer’s Conduct in Denying Claim Over Insured’s Conduct
Aug 28 2023 // Philadelphia Indemnity Insurance Co. is not entitled to the summary judgment it was granted by a federal district court in a building fire case in which it claimed the insured was not cooperative in accommodating its...
Washington Commissioner’s Orders Insurers to Extend Policyholders Protections for Wildfires
Aug 25 2023 // Washington state Insurance Commissioner Mike Kreidler issued an emergency order requiring all property/casualty insurers to provide additional protections for policyholders impacted by the Gray and Oregon Road fires. The...
Nova Scotia Floods Cost Insurers More Than C$170 Million
Aug 25 2023 // An atmospheric river event that led to significant flooding in parts of Nova Scotia on July 23, 2023, is estimated to have caused over C$170 million (US$125.5 million) in insured damage, according to initial estimates from...
Insurers to Pay $50M in Settlement Over Abuse at West Virginia Boarding School
Aug 25 2023 // CHARLESTON, W.Va. (AP) — A second lawsuit that alleged widespread sexual, physical and mental abuse at a now-closed West Virginia boarding school for troubled youths has been settled for about $50 million, to be paid...
