Industry News
Insurance Tech Firm Exzeo Raises $168M in U.S. IPO
Insurance technology firm Exzeo Group raised $168 million in its U.S. initial public offering on Tuesday, pricing its shares within its marketed range and becoming the latest insurance company to ...
Chubb Group Vice Chair Lupica to Retire at 2025 End
John Lupica, vice chairman of Chubb Group and executive chair of North America Insurance, is retiring at the end of the year. John Keogh, president and chief operating officer of Chubb Group, will ...
UBS Warns of Systemic Risk From Weak U.S. Insurance Regulation
UBS Group AG's chairman warned against looming risks in the U.S. insurance industry, citing weak and complex regulations amid an unprecedented boom in private financing. "We're beginning to see huge ...
Jamaica to Get Record $70.8M Parametric Payout for Hurricane Melissa
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) announced it will make a payout of $70.8 million to the government of Jamaica to cover damages from Hurricane Melissa. This marks the largest ...
Don’t Look Now, But Citizens Is No Longer the Largest Property Insurer in Florida
Citizens Property Insurance Corp., the state-created insurer of last resort, is no longer the largest carrier in Florida. The ranking is seen as a significant milestone in the push for a more stable, ...
Insured Losses From Hurricane Melissa Could Reach $4.2 Billion, Verisk Estimates
Insured losses from Hurricane Melissa's strike on Jamaica are expected to range between $2.2 billion and $4.2 billion, according to estimates from data analytics firm Verisk. The Category 5 hurricane ...
Indigo’s AI Platform Reaches 20% Milestone in Underwritten Submissions
With five underwriters and its vertically integrated AI-driven medical professional liability platform, Indigo announced an operational milestone: 20 percent of all submissions are now automatically ...
Buffett’s Berkshire Cash Hits $382 Billion, Earnings Soar
Berkshire Hathaway Inc.'s cash pile soared to $381.7 billion in the third quarter, a fresh record, and operating earnings surged 34 percent at Chief Executive Officer Warren Buffett's conglomerate. ...