Content from Chad Hemenway
States’ AI-Related Legislation Aimed at Insurance Is ‘Unfounded,’ Says NAMIC
Policy discussions on the use of artificial intelligence in insurance are "unfounded" and "detrimental to policyholders," according to an analysis from the National Association of Mutual Insurance ...
The Doctors Co. Buys Med Mal Insurer ProAssurance in $1.3B Go-Private Deal
The Doctors Company said it has entered an agreement to acquire ProAssurance Corp. for $1.3 billion, taking the company private. Birmingham, Ala.-headquartered ProAssurance is a specialty insurer ...
Munich Re’s Ergo Buys Next Insurance; InsurTech Valued at $2.6B
Munich Re said it has acquired Next Insurance, which will become part of the reinsurer's major primary insurance business, Ergo. The agreement in place values Next Insurance at $2.6 billion. Ergo ...
AM Best: US P/C Industry in 2024 Posts First Underwriting Profit in Four Years
For the first time in four years, the U.S. property/casualty industry will finish a year with an underwriting profit. AM Best today in a "First Look" at US P/C financial results said the industry ...
Arthur J. Gallagher to Acquire Woodruff Sawyer for $1.2B
Insurance brokerage Arthur J. Gallagher & Co. has signed a definitive agreement to acquire Woodruff Sawyer for $1.2 billion. Andy Barrengos, chairman and CEO of San Francisco-based Woodruff ...
Liberty Mutual to Sunset Safeco Brand in 2026
Safeco Insurance will stop being a brand name in 2026, and Liberty Mutual Insurance will sell all of its personal lines products under the Liberty Mutual name. Safeco has been Liberty Mutual's brand ...
Lemonade CEO Declares ‘Best Quarter Ever,’ Posts Narrowed Q4 Loss of $30M
InsurTech Lemonade reported a fourth-quarter 2024 net loss of about $30 million and a loss for the year of about $202.2 million. Results were in comparison to a net loss of $42.4 million for ...
AM Best: U.S. P/C Industry Improves Despite 2024 Underwriting Loss
The U.S. property/casualty industry took another underwriting loss in 2024, but results improved thanks to rate increases and changes in risk selection. A report from industry rating agency AM Best ...