Industry News
Skyward Specialty Finds 2023 Is Right for IPO
Houston, Texas-based Skyward Specialty on Friday became the first U.S. company to launch an initial public offering in the 2023 calendar year, a move that CEO Andrew Robinson said will provide ...
Appeals Court Rules Insurers Not Obligated to Defend Distributor of Opioids
Westfield National Insurance Co. and Motorists Mutual Insurance Co. are not required by their insurance contracts to defend generic drug distributor Quest Pharmaceuticals against dozens of ...
Travelers Estimates Drop in Q4 Income on Winter Storm Losses
Travelers Companies released an estimate of $459 million in pre-tax catastrophe losses during the fourth quarter and expects to report net income of $819 million for the last three months of ...
USAA Commits $20 Million to Advance Economic Mobility for Underserved Communities
USAA announced it has committed $20 million to nearly 50 nonprofit organizations as part of its three-year, $50 million commitment made in late 2020 to advance diversity, equity and inclusion. "Over ...
MetLife Reunites With Snoopy to Build Pet Insurance Awareness
MetLife Pet Insurance is once again partnering with "Peanuts" canine Snoopy — this time to build greater awareness of the importance of pet health insurance, noting that less than 3 percent of pets ...
Investment Activities Don’t Cut It; Underwriters Create Value: ACORD
"Sustainable value creators" among the 100 largest property/casualty insurance carriers generated more value through underwriting than through investment activities over a 20-year study period, ...
Bold Movers and Losers: Incumbents Need to Act While InsurTechs Stumble
At a time when InsurTechs face major headwinds and incumbent insurers benefit from market tailwinds, it's time for the traditional insurers to make bold strategic moves, McKinsey partners said in a ...
W.R. Grace Offers $18.5M to Settle Montana Asbestos Claims
The owner of a former vermiculite mine in northwestern Montana that spread harmful asbestos in and around the town of Libby has offered $18.5 million to settle the last of the state's claims for ...