Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Italian Insurer Cattolica Says Its Board Views Generali Takeover Offer as Fair
Sep 29 2021 // Italian insurer Cattolica said on Tuesday that its board considers that bigger rival Generali’s takeover offer for it is at a fair price. Generali, Italy’s largest insurer, earlier in May said it would launch a...
Climate Change Ranks as Top Concern for Insurers, Replacing Pandemic
Sep 29 2021 // Climate change has returned to the top of the list of insurers’ biggest concerns as the vaccine roll-out and gradual lifting of health restrictions see pandemic fears ease in many countries. Global warming was ranked...
Hong Kong Tycoon Richard Li’s Insurer FWD Makes U.S. IPO Filing Public
Sep 24 2021 // Insurance company FWD Group Holdings Ltd., owned by Hong Kong billionaire Richard Li, made its filing for a stock market listing in the United States public on Thursday, revealing a jump in revenue last year. The insurer,...
Evergrande’s Problems Prompt China’s Banks, Insurers to Pull Back on New Credit
Sep 24 2021 // SHANGHAI/BEIJING – As fears of contagion from any default by China Evergrande Group mounted this month, some Chinese banks, insurers, and shadow banks stopped offering new credit to property developers, and ran urgent...
People Moves: Insurer Aviva Names Montague, Cummings to Exec Committee; Wood to Launch Captive Operation for Price Forbes Bermuda; Wagstaff Is CEO of LMG
Sep 24 2021 // This edition of International People Moves details appointments at UK insurer Aviva, broker Price Forbes Bermuda and the London Market Group. A summary of these new hires follows. Aviva Strengthens Exec Committee with...
Russia’s Largest Online Insurer Weighs Acquisitions Ahead of Possible IPO
Sep 23 2021 // Renaissance Insurance, Russia’s largest online policy provider, is trawling the country’s traditional insurers for acquisition targets as it prepares for a possible initial public offering. RenIns — which...
