Latest Insurance news of insurers & global insurance industry. Explore latest insights, trends and breaking insurance market news from Beinsure Media.
Insurance News delivers current updates and outlooks in the insurance industry, section provides timely coverage of significant events, regulatory changes, and market trends that impact insurers and policyholders. It highlights new insurance products, technological advancements, and major mergers or acquisitions within the sector. The focus is on presenting relevant news that affects the insurance landscape, ensuring that readers stay informed about the latest shifts and emerging issues.
Hailstones the size of chicken eggs led to an estimated $2.1 bn (C$2.8 bn) in insured losses from a severe storm in Calgary, Alberta, on August 5, according to the Insurance Bureau of Canada
The Florida Office of Insurance Regulation has approved requests from eight carriers to take over 232,535 personal residential multiperil policies and 2,500 residential
Sentry Insurance announced its agreement to acquire The General from American Family Insurance for $1.7bn. The deal includes $1.1bn in cash, plus assumed liabilities and required capital
Lawyers for American International Group are asking a judge to reject a request from Dellwood Insurance Group to dismiss the lawsuit against the company
CoreLogic estimated Hurricane Francine insured wind and storm surge losses to be up to $1.5 bn. Losses include damage to buildings, contents, and business interruption
Tropical Storm Francine, hitting Louisiana, may cause over $1 bn in private insured losses, according to Gallagher Re, highlighted that a hurricane’s path significantly impacts
Florida reported $121.5mn in estimated insured losses from Hurricane Debby, with 59.6% of claims closed, according to the Office of Insurance Regulation
The American Transit Insurance Co., New York’s largest insurer of taxi cabs, is insolvent by approximately $665 mn and must consider all options for recapitalization
Hungarian insurance market experienced about a 5% year-on-year increase in gross written premiums (GWP), reaching €2.2 bn, according to data from MNB
Motor insurers in Poland in the first half of 2024 generated PLN 8.85 bn ($2.1 bn) in premiums, marking a 10.42% increase year-on-year
Fitch Ratings expect to see more interest and activity in securitised assets from insurers following matching adjustment (MA) reform
Traditional risk management models face significant pressure due to unprecedented natural disasters, geopolitical conflicts, and economic instability
Clear Group announced the acquisition of MGA Accelerate Underwriting. This marks Clear Group’s fourth MGA acquisition as it strengthens its underwriting capabilities for brokers
Intermediary Specialist Risk Group (SRG) has acquired Capulus, a Wales-based managing general agent, to enhance its motor fleet capabilities
The Federal Deposit Insurance Corp. (FDIC) has proposed a rule that may delay investors’ bank share purchases by up to six months, with potential effects on mergers and acquisitions
U.S. life insurance applications increased by 9.3% in July 2024 compared to July 2023, and the year-to-date growth stood at 1.7%
Tesla now offers state-specific discounts for car insurance policyholders in the 12 states where Tesla Insurance operates. These discounts aim to lower insurance costs
During the Paris 2024 Olympics insurers were on high alert over potential risks that could lead to event cancellations and significant insurance losses
Insured losses from the Jasper Wildfire Complex have exceeded C$880 mn ($653.4 mn), according to Catastrophe Indices and Quantification Inc
Swiss Re reported a profit of $996 mn in the second quarter of 2024, resulting in a net income of $2.1 bn and a return on equity (ROE) of 20% for the first half of the year
Vienna Insurance Group’s robust growth in H1 2024. Gross written premiums increased by 7.9% year-over-year, reaching EUR 7.89 bn in the first half of 2024
Australian insurers faced losses of A$2.19 bn ($1.46 bn) from four events during the 2023-2024 catastrophe season, according to the ICA
Intact Financial Corp. reported that recent extreme weather events, including floods in Toronto and Montreal, wildfires in Jasper, and hailstorms in Calgary, estimated $809 mn
A global settlement of $4 bn has been tentatively reached to resolve all lawsuits stemming from the Maui wildfires. Insurers cannot independently pursue subrogation claims
Aon reports that wildfires in Greece and severe convective storms across Europe could result in hundreds of millions of dollars in losses. Beginning August 12, storms in Switzerland and Austria brought heavy rain
