Deal value for global insurance mergers and acquisitions was up $44.4 billion in the first six months of 2018, driven by a slew of megadeals that pushed value to its highest first-half total since the financial crisis, according to a …
Kentucky Attorney General Andy Beshear has sued a pharmaceutical company, accusing it of contributing to the state’s opioid epidemic. Beshear says he has sued Pennsylvania-based Teva for marketing its products to treat chronic pain despite the drugs being approved for …
The Southeastern United States is mostly free of drought, but a new federal assessment shows conditions are worsening slightly in Georgia and Alabama. A new map released last week by the U.S. Drought Monitor shows about one-third of Georgia is …
A.M. Best has upgraded the financial strength ratings of two workers’ compensation insurers based in Florida. RetailFirst Insurance Co. and BusinessFirst Insurance Co. have received a financial strength ratings of A- (Excellent) from A.M. Best, upgraded from B++ (Good). The …
Bermuda-based RenaissanceRe Holdings has agreed to pay about $1.5 billion to acquire Tokio Marine’s reinsurance platform (TMR), which includes Tokio Millennium Re AG and Tokio Millennium Re (UK). If closing tangible book value is unchanged from June 30, 2018, Tokio …
Alphabet Inc.’s Waymo unit on Tuesday became the first company to receive a permit from the state of California to test driverless vehicles without a backup driver in the front seat, the state’s Department of Motor Vehicles said. California said …
Oak Harbor, Wash.-based Cascade Insurance Agency merged operations with Leavitt Group Northwest. Terms of the deal were not disclosed. Shelli Trumbull will join Sue Blouin and Bonnie Wallin in Leavitt Group’s Oak Harbor office. With this merger, the combined agency …
When encountering a centenarian one often asks their secret to longevity. Embrace change. That’s was the secret Andy Barrengos, CEO of Woodruff Sawyer, shot back to the question without hesitation. Barrengos, 54, is himself barely halfway to the 100-year-mark. However, …
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) is accepting comments on five newly proposed forms to help insurance carriers submit requests for reimbursement from the Subsequent Injury Fund (SIF). Use of these forms will be voluntary. The …
Two people in Michigan face felony charges filed by the state’s attorney general for allegedly selling fraudulent insurance to customers. The charges are the result a joint investigation by the Child, Elder, and Family Financial Crimes Division at the Michigan …
