Although Berkshire Hathaway’s biggest insurance operation GEICO reported a 63 percent drop in pretax underwriting income in 2021, overall the conglomerate’s insurance and reinsurance operations saw pretax underwriting profit jump nearly 12 percent, the annual report reveals. Underwriting profit for …
Irish insurers’ association Insurance Ireland has offered to open up its data sharing platform to nonmembers and apply fair criteria to access it in an attempt to end a near-three EU antitrust investigation and stave off a possible hefty fine. …
This edition of International People Moves details appointments at Euler Hermes, Gallagher Re and Marsh. A summary of these new hires follows here. Rosa Appointed CEO of Euler Hermes World Agency Euler Hermes, the world leader in trade credit insurance, …
Descartes Underwriting, the Paris-based parametric insurtech, has formed a partnership with Reask, the tropical-cyclone modeling firm. The partnership aims to expand the availability and advancement of parametric cyclone insurance products by combining Descartes’ ability to incorporate new technology into parametric …
Russia’s invasion of Ukraine could add to inflationary pressures and will likely have a substantial impact on the global insurance industry, said AM Best. The rating agency Friday said efforts by the global central banks and the U.S. Federal Reserve …
Dozens of animals including prairie dogs, lemurs and hedgehogs were killed when a fire broke out in a barn at an Arkansas petting zoo, according to a woman who volunteers at the zoo. At a news conference Feb. 25, Jennifer …
An Ohio business says its insurance company must compensate it for financial losses suffered during a pandemic-related shutdown. The insurance company refused to pay, saying its policy didn’t cover such losses. The Ohio Supreme Court heard arguments from both sides …
India’s cabinet approved on Saturday a policy amendment allowing foreign direct investment of up to 20% in Life Insurance Corp of India (LIC), a government source said, a change aimed at easing the listing of the state-run insurer. India’s biggest …
Bakofsky Named Chief of Staff at Florida OIR Florida Insurance Commissioner David Altmaier announced that communications director Alexis Bakofsky has been elevated to chief of staff. Bakofsky joined the state Office of Insurance Regulation in 2019 and has also served …
St. Johns Insurance Co., one of the larger property/casualty insurers based in Florida, is now insolvent and will soon be liquidated. The Florida Department of Financial Services posted a notice Friday that a judge in Leon County, Florida, had appointed …
