Although Liberty Mutual reported worse underwriting results and lower net income in 2023 compared to the prior year, executives pointed to the momentum of the final quarter as an indicator of what’s ahead. “We made solid progress toward our 95 …
Two former executives with American International Group (AIG) have launched a nationwide excess and surplus lines (E&S) insurance holding company. Michael Price and Kean Driscoll announced the formation of Dellwood Insurance Group, which they said will be dedicated to property/casualty …
The U.S. Justice Department is expanding its whistleblower program to coax more tipsters to disclose corporate misconduct by offering monetary rewards, Deputy Attorney General Lisa Monaco said on Thursday. The Justice Department is already authorized to dole out awards for …
U.S. household wealth rose to a record of roughly $156.2 trillion at the end of 2023 thanks to a surging stock market that offset a drop in property market values, the Federal Reserve said on Thursday. Household net worth rose …
Aon Names Ahmed and Von Obstfelder as Advanced Risk Analytics Product Leaders Aon plc, headquartered in London, named to new leaders in global and U.S. commercial risk. Aon named Arshi Ahmed global head of analytics for financial, professional and cyber …
U.S. commercial insurance prices increased 6.6% in the fourth quarter 2023, with “intriguing shifts” in some coverage areas, according to a survey from broker WTW. According to the latest results from WTW’s Commercial Lines Insurance Pricing Survey (CLIPS), carriers in …
Ten Republican-led states have sued to challenge new federal rules that require U.S.-listed companies to report climate-related risks, a spokesperson for the West Virginia Attorney General’s Office said on Wednesday, hours after the U.S. Securities and Exchange Commission approved the …
A U.S. appeals court on Wednesday upheld the dismissal of a lawsuit by a conservative group opposed to diversity initiatives in medicine that challenged a Pfizer fellowship program designed to boost the pipeline of Black, Latino and Native American people …
Industry rating agency AM Best said the U.S. property/casualty industry’s underwriting loss for 2023 reached a 10-year high of $38 billion, attributable to severe weather-related losses, stubborn inflation, and upward reinsurance pricing. Analysts in the report published yesterday found that …
The hackers responsible for the breach at UnitedHealth Group appear to have pulled a disappearing act on Tuesday, leaving their cybercriminal associates in the lurch and replacing their old website with a bogus statement from law enforcement. The U.S. insurer …
