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California Sees Two More Property Insurers Withdraw From Market California’s already strained property insurance market is facing a new challenge as two more insurers, Tokio Marine America Insurance Co. and Trans Pacific Insurance Co., plan to withdraw from the wildfire-prone state entirely starting in July. The two companies, units …
POSTED APRIL 18, 2024 8:03 PM |
Marsh McLennan Reports Better Than Expected First Quarter Profit Marsh McLennan reported a better-than-expected quarterly profit on Thursday, helped by an increase in interest income the insurance brokerage earned from funds held on behalf of clients. The company’s shares rose about 2% to $201 before the bell. The U.S. …
POSTED APRIL 18, 2024 4:48 PM |
CFC Acquires Solution Underwriting in Australia CFC, the London-based specialist insurer, announced it has agreed to acquire Australian managing general agent, Solution Underwriting. Financial details of the deal, which is expected to complete on April 30, 2024, were not disclosed. CFC has been trading in Australia …
POSTED APRIL 18, 2024 4:40 PM |
Investor Climate Group Sets Target for Assets in Private Equity, Debt The world’s leading group of asset owners committed to turning their investment portfolios green said on Thursday it had set guidance for private assets for the first time and would also look to improve assessment of emissions tied to sovereign …
POSTED APRIL 18, 2024 4:26 PM |
Arthur J. Gallagher & Co. Acquires Louisiana’s Fontenelle & Goodreau Arthur J. Gallagher & Co. announced the acquisition of Metairie, Louisiana-based Fontenelle & Goodreau Insurance, LLC. Terms of the transaction were not disclosed. Fontenelle & Goodreau Insurance offers commercial property/casualty coverages specializing in large apartment accounts in the Louisiana market …
POSTED APRIL 18, 2024 3:44 PM |
Texas DWC Adopts Amendments to Accident Prevention Services The Texas Department of Insurance, Division of Workers’ Compensation (DWC) announced this week that it has adopted amendments the 28 Texas Administrative Code concerning certain submission requirements for insurance companies about their accident prevention services (APS). The rule will be …
POSTED APRIL 18, 2024 3:41 PM |
People Moves: McGill Expands Global Property Team; Lawrence Joins Alliant; Berkshire Specialty Promotes Bowman McGill Hires Milne and Cabot to US Property Team McGill and Partners, headquartered in London, appointed Duncan Milne and Cabot Lyman as partners to the firm’s U.S. property team. Milne joins the firm as a partner and head of U.S. …
POSTED APRIL 18, 2024 3:35 PM |
Global Insured Natural Disaster Claims Again Dominated by Severe US Storms: Gallagher Global insured losses from natural catastrophes in the first quarter were estimated at $20 billion, with US claims accounting for more than $15 billion, or 75%, of the Q1 total, according to a Gallagher Re in a report. Despite a …
POSTED APRIL 18, 2024 3:02 PM |
Survey Shows Majority of Florida, California Homeowners Seeing Higher Insurance Costs Few people in Florida and California will be surprises to hear that the majority of homeowners in those states have been affected by rising property insurance costs. A survey by Redfin, a U.S. real estate broker, found that just over …
POSTED APRIL 18, 2024 2:35 PM |
Attorney Wants Footage of Fatal Chase in Mississippi But Town Says None Exists JACKSON, Miss. (AP) — Civil rights attorney Ben Crump demanded Tuesday that police in a small town in Mississippi release camera footage of a chase that ended in the death of a Black teenager, but the city attorney said the …
POSTED APRIL 18, 2024 2:12 PM |
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