Industry News
Swiss Re Shares Drop After New Profit Target Falls Short of Expectations
Swiss Re shares dropped 7.5 percent on Friday after the world's second-largest reinsurer announced a new profit target that fell short of market expectations. The Zurich-based company said it was ...
‘Dream Is in Sight:’ Chamber, Reinsurers, Insurers Urge Florida to Stay the Course
The message from the Florida Chamber of Commerce Insurance Summit was loud and clear: Don't mess with legislative changes that have all but restored the state's property insurance market. And while ...
Hong Kong High Rise Fire to Hurt Taiping Insurance Earnings: Fitch
The deadly fire that ripped through seven high-rise towers in Hong Kong is expected to result in a surge in near-term claims among insurers and hit earnings of the complex's main underwriter, an ...
Berkshire Hathaway Announces Leadership Appointments: New CEO at GEICO
Berkshire Hathaway announced that Nancy L. Pierce has been appointed Chief Executive Officer of GEICO, effective immediately. Pierce currently serves as Chief Operating Officer of GEICO and, since ...
Satellite Startup ICEYE Raises Funds at $2.8 Billion Valuation as Europe Boosts Defense
ICEYE, a Finnish satellite developer with a number of defense contracts, has raised money at a €2.4 billion ($2.8 billion) valuation, capitalizing on the military spending boom across Europe. ...
State Farm Sued Over Policies Backed by Distressed Insurer PHL
State Farm Mutual Automobile Insurance Co. faces a lawsuit accusing it of fraud and unjust enrichment for selling products from PHL Variable Insurance Co., which authorities say has a $2.2 billion ...
Florida, East Coast to See Big Insured Losses From More Cat 5 Storms, Researchers Say
The just-ended 2025 Atlantic hurricane season surprised some forecasters after it produced no major storms that hit the United States. But the hurricanes that did arise, with most remaining offshore ...
Foundation Firmed: AM Best Switches View of U.S. Homeowners Insurers to Stable
Insurers of U.S. homes have improved rate adequacy and catastrophe risk management, modified coverage, and benefitted from a softening reinsurance market to earn a change in AM Best's outlook for the ...