Industry News
Allianz Restructures Global Commercial Insurance Unit as One Go-to-Market Business
Allianz Group announced it is restructuring its global commercial insurance segment as one go-to-market business under the trading name Allianz Commercial, which will encompass its Allianz Global ...
La Nina, Which Worsens Hurricanes and Drought, Is Gone
After three nasty years, the La Nina weather phenomenon that increases Atlantic hurricane activity and worsens western drought is gone, the National Oceanic and Atmospheric Administration said ...
2022 In Review: It Was Bad
The year 2022 is in the books for most U.S. property/casualty insurers as the days tick down to statutory filing deadlines. Putting the numbers together, AM Best revealed just how bad the aggregate ...
Lloyd’s 2022 Underwriting Results ‘Strong’ Despite Bottom-Line Red Ink
Lloyd's reported an interim full-year 2022 loss before tax of $947.6 million (£800 million ) as a result of investment losses of approximately $3.6 billion (£3 billion). This compares to a profit ...
American Family Insurance Group Underwriting Loss Triples to $1.5B in 2022
Earlier this week, American Family Insurance report a 2022 net underwriting loss of $1.5 billion in its property/casualty lines, up from an underwriting loss of $460 million in 2021. The company ...
Florida Senate Committee Approves Tort-Reform Bill, but Changes Are Possible
A Florida bill that aims to further limit injury and insurance litigation and attorney fees passed a state Senate committee Tuesday after heavy debate – but with few amendments at the opening day ...
Crypto-Focused Bank Silvergate Plans to Wind Down Following Blow From FTX
Crypto-focused bank Silvergate Capital Corp. said on Wednesday it planned to wind down operations and voluntarily liquidate after it was hit with losses following the dramatic collapse of crypto ...
Glut of Plastic Polluting World’s Oceans Is Growing Fast: Research
There are more than 170 trillion tiny plastic particles — or 2 million tons of them — floating on the surface of the ocean, and many of them got there after 2004, according to a paper published ...