Industry News
Swiss Re Names Berger as Group CEO, Succeeding Mumenthaler
Swiss Re announced that Andreas Berger will become group chief executive officer, effective July 1, 2024, taking over from Christian Mumenthaler, who will step down. "The board unanimously determined ...
Spinnaker Veterans Launch Fronting Startup Emerald Bay With Backing From Bain Capital
Emerald Bay Risk Solutions has launched as a property/casualty insurance fronting carrier, backed by Bain Capital Insurance and headed by a group of insurance veterans who have fronting experience. ...
Farmers Names Allstate Veteran as Chief Financial Officer
Farmers Insurance on Monday announced the appointment of John Griek as chief financial officer for Farmers Group Inc., effective April 1. He will report to CEO Raul ...
Insurance Industry Readies for Historic Losses From Baltimore Bridge Tragedy
It's very early in the recovery process and already the numbers are large. Insured losses for the tragic collapse of the Francis Scott Key Bridge in Baltimore could be as much as $2 billion to $4 ...
Other Major U.S. Bridge Collapses Caused by Ships and Barges
A container ship struck a major bridge in Baltimore early Tuesday [March 26], causing it to plunge into the river below. From 1960 to 2015, there were 35 major bridge collapses worldwide due to ship ...
Fidelis Partnership Gets ‘In Principle’ Approval From Lloyd’s to Launch Syndicate
The Fidelis Partnership, the Bermuda-based managing general underwriter, announced that Lloyd's has granted "in principle" approval for the launch of Syndicate 3123 in collaboration with Fidelis ...
U.S. Home Insurance Premiums May Hit a Record This Year, Report Warns
U.S. home insurance rates are expected to reach a record high this year, with the biggest increases occurring in states prone to severe weather events, according to a new analysis. The average ...
AM Best Downgrades State Farm General Ratings
Roughly a week after State Farm announced that it would nonrenew tens of thousands of homeowners and commercial apartment policies in California, AM Best has downgraded the company that offered those ...