Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
China’s Anti-Graft Watchdog to Inspect Financial Regulators, State Banks, Insurers
Oct 13 2021 // China is inspecting the nation’s financial regulators, biggest state-run banks, insurers and bad-debt managers for the first time in six years to root out corruption in its $54 trillion financial system. A team led...
Lloyd’s Re/Insurer Apollo Receives $90M Investment From Alchemy Partners
Oct 12 2021 // Apollo Group Holdings Ltd., the largest independent, management-owned business at Lloyd’s, announced it has agreed a $90 million investment by Alchemy Special Opportunities Fund IV LP. Apollo said the investment will...
U.S. Property Insurers Could be Facing $12.5B in Hidden Cyber Losses
Oct 12 2021 // The U.S. property insurance market is accumulating cyber exposures that could result in $12.5 billion in non-physical damage losses and cause capital adequacy ratios for some carriers to deteriorate. A study conducted by...
J.D. Power Agents’ Survey Reveals Top-Ranked P/C Carriers (Story in Charts)
Oct 8 2021 // Neglected no more. Independent agents are feeling the love from property/casualty insurance carriers—and the scores they are giving carriers are moving higher, J.D. Power reports. According to results of the J.D. Power...
Insurers Could Owe $80M to Investors Suing Over 2016 Willis Merger With Towers Watson
Oct 8 2021 // Seven insurers that shared the risk for directors and officers policies sold to Towers Watson may have to pay up to $80 million for settlements with shareholders who cried foul after learning that the brokerage’s...
Report: A Fifth of U.S. Insurance Company Board Members Have Worked in Fossil Fuel Industry
Oct 7 2021 // A report out Thursday from a climate change advocacy group alleges that more than one-fifth of U.S. insurance company board members have worked for the fossil fuel industry, and that two-thirds of all U.S. insurance...
S. Africa Insurer Santam Loses Appeal in COVID-19 Business Income Case With Hotelier
Oct 7 2021 // JOHANNESBURG – South Africa’s Supreme Court of Appeal has ruled Santam is liable to cover the impact of COVID-19 restrictions on hotel group Ma-Afrika for 18 months, rejecting the insurer’s request for a...
Swiss Re Estimates Hurricane Ida Could Cost Insurers $30 Billion
Oct 6 2021 // On an industry level, Swiss Re now estimates that total insured market losses from Hurricane Ida to be in the range of $28–30 billion, excluding federal flood insurance losses. Hurricane Ida, the second-most intense...
California Orders 3 Insurers to Give Refunds for Those Who Drove Less During Pandemic
Oct 6 2021 // California Insurance Commissioner Ricardo Lara on Wednesday directed three auto insurance companies to reimburse California drivers the excess premiums they were charged from the start of the pandemic, or face legal...
‘Ambiguous’ Flood Deductible May Cost Carriers That Insured New Orleans Hotel
Oct 5 2021 // The redevelopment of the historic Jung Hotel and Residences in downtown New Orleans flooded four times before renovations were complete. The two insurers that issued a builder’s risk policy for the project thought...
Swiss Re Estimates Europe’s July Floods to Cost Insurers $12 Billion
Oct 5 2021 // Swiss Re estimated total insured market losses of the insurance industry due to the July floods in Europe at approximately US$12 billion. The insurer also updated its own loss estimate for the July floods at approximately...
Swiss Re Estimates Hurricane Ida Could Cost Insurers $30 Billion
Oct 5 2021 // On an industry level, Swiss Re now estimates that total insured market losses from Hurricane Ida to be in the range of $28–30 billion, excluding federal flood insurance losses. Hurricane Ida, the second-most intense...
China Tells Insurers, Banks They Must Ensure Coal, Power Financing Needs Are Met
Oct 5 2021 // China’s banking regulator said on Tuesday that lenders including policy banks must ensure that the financing needs of the coal and power sectors are met so that consumer heating during winter is not affected. Beijing...
UK Gender Pay Gap Widens for Insurers, While Banks Make a Slight Dent
Oct 5 2021 // Major banks in Britain made a slight dent in their gender pay gaps last year, according to a Reuters analysis, though industry observers say they still have a long way to go. Several insurers went backwards. Companies in...
Beyond the Portal: P/C Carriers Vie to Create Better Agency Digital Experiences
Oct 5 2021 // Agent digital experiences are moving to the forefront of property/casualty insurance carrier technology strategies, according to a survey report published by Celent late last week. Just having a web portal isn’t...
Insurers Expanding Franchises, Options in Florida
Oct 4 2021 // Two insurance companies announced expansions in Florida last week. Jacksonville-based We Insure Inc., an independent insurance franchise company, said it had opened the We Insure John Douglas Insurance agency in Panama...
People Moves: 1st Sustainable Insurer Names Foreman as Chair; Piiq and Gallagher Appoint Aerospace Execs; Optio’s Nuclear MGA Northcourt Hires Tetley as MD
Oct 4 2021 // This edition of International People Moves includes appointments at the first sustainable insurer, Parhelion; at brokers Piiq Risk Partners and Gallagher; and at Optio Group’s Nuclear MGA Northcourt. A summary of...
Allstate Completes Sale of Life Insurance Company of New York
Oct 4 2021 // The Allstate Corp. moved closer to its complete exit from the life insurance and annuity business with the closing of the sale of its Allstate Life Insurance Company of New York to Wilton Re for approximately $400...
In Changing Housing Market, Home Insurers Struggle with Customer Loyalty: Study
Oct 4 2021 // Home insurers have struggled to develop products and services designed to maximize customer lifetime value for the growing population of baby boomers migrating from home ownership to renting, a new study by J.D. Power,...
UK Insurer Aviva Completes Sale of French Business to Aéma for £2.8 Billion
Oct 1 2021 // UK insurer Aviva plc announced the completion of the sale of its French business to Aéma Groupe for £2.8 billion ($3.8 billion) in cash. The transaction was first announced on Feb. 23, 2021. Related: Allianz Completes...
