Industry News
Aon to Buy Middle-Market Broker NFP for $13.4 Billion
Aon plc this morning said it has a $13.4 billion deal in place to purchase broker NFP to expand its middle-market segment. The purchase price will be funded by $7 billion in cash and $6.4 billion of ...
Lloyd’s Extends Lease on Iconic London Headquarters Until 2035
Society of Lloyd's, better known as Lloyd's of London, has reached an agreement to remain in its One Lime Street headquarters until at least 2035, the Financial Times reported. The deal with landlord ...
Picture an experienced underwriter who’s spent 30 years building carrier relationships, spotting risks others miss, and mentoring producers. Over the...
Florida Insurers Got Creative About Reinsurance in ’23: KBRA
Things are looking up in the buffeted Florida market, but reinsurance rates will continue to rise for the next two years, and a 2024 hurricane season could be busy. It all suggests that property ...
‘Concerning Trend’ in Auto Theft Rates Pressuring Insurers
Vehicle theft rates continue to put pressure on the personal auto insurance market. CCC Intelligent Solutions said in its year-end report that the number of vehicle thefts in the U.S. increased 2 ...
S&P Upgrades Lloyd’s Financial Strength Rating to AA-
S&P Global Ratings has revised its financial strength rating for Lloyd's of London to "AA–", outlook stable, from "A+", outlook stable. The rating upgrade reflects the improvement in Lloyd's ...
Mission Accomplished: Allstate Announces Calif., NY, NJ Rate Approvals
The departments of insurance in California, New York and New Jersey approved double-digit auto rate increases for Allstate in three states that the carrier considered exiting in the absence of ...
Report: U.S. Crop Insurers Reap Billions in Profit
Roughly one-third of U.S. government spending to insure the nation's crops since 2011 has gone to insurance companies that derive more than $1 billion in profit from the program each year, according ...
Allianz D&O Outlook: ESG Claims ‘Here to Stay’ and AI Rapping at the Door
While everyone may be talking about potential risks associated with generative artificial intelligence, a new directors & officers report from Allianz highlights a range of current concerns ...