Industry News
Recent Catastrophe Events Will Ding U.S. P/C Insurers’ Formerly Robust Climb
Don't expect U.S. property/casualty insurer profit to continue its robust climb. Fitch Ratings said that recent natural catastrophes should slow those increases considerably through the second half ...
E&S Insurer Ategrity Raises $75M, Plots Next Phase of Growth
Ategrity Specialty Insurance Co. sad it has completed a $75 million capital raise led by Sequentis Financial LLC to support its continued growth. Ategrity is a Scottsdale, Arizona-based specialty ...
Confidence in MGA Sector Highest in Three Years: Survey
Confidence in the MGA sector has improved despite the pandemic and is now at its highest level in three years, according to a new survey from global law firm Clyde & Co. In fact, 69 percent of ...
Digital Property Claims Marketplace Startup Wins ACORD’s InsurTech Innovation Challenge
ACORD, the global standards-setting body for the insurance industry, picked the startup handdii as the winner of its 2021 ACORD InsurTech Innovation Challenge New York. The winner is a digital ...
Climate Change Could Force 200 Million People to Abandon Their Homes by 2050
Climate change could push more than 200 million people to leave their homes in the next three decades and create migration hotspots unless urgent action is taken to reduce global emissions and bridge ...
Generali Reports Most Directors Want to Keep Donnet as CEO
Generali said a majority of its board members was in favor of keeping Chief Executive Philippe Donnet in his job for another mandate, as shareholders in Italy's biggest insurer spar over governance ...
The Hartford Agrees to $787M Settlement for Boy Scouts Sex Abuse Claims
The Hartford announced a new agreement in the Boy Scouts of America (BSA) bankruptcy in which it will pay $787 million for sexual abuse claims under policies mostly issued in the 1970s. The new ...
U.S. P/C Mutual Insurers Still Saw Premium Growth Despite 2020 Pandemic Givebacks: AM Best
U.S. P/C mutual insurance companies held their own in 2020 despite returning significant levels of premiums during the pandemic. In fact, net premiums written grew by 1.4 percent even with all the ...