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INSURANCE NEWS
Allianz Appoints Kroetz and Floquet as CEOs at Allianz Partners and Allianz Direct
Allianz Group announced chief executive officer appointments at Allianz Partners and Allianz Direct, following Tomas Kunzmann’s appointment to the Allianz SE Board of Management. Philipp Kroetz, currently chief executive officer of Allianz Direct, will become CEO of Allianz Partners, effective …
People Moves: AIG Names Hussain CRO for Retiring Schaper
American International Group (AIG) said Turab Hussain was appointed executive vice president and chief risk officer of AIG, effective Oct. 12. Hussain will report to Eric Andersen, president & CEOr, AIG and will serve on AIG’s Executive Leadership Team. He …
People Moves: Plymouth Rock Home Names Stuckey VP of Customer Service
Plymouth Rock Home Assurance Corp. headquartered in Boston, Massachusetts, named Jared Stuckey as vice president of customer service and underwriting. Stuckey previously led underwriting strategy and managed personal and commercial products for Plymouth Rock’s Independent Agent auto business. He will …
Zurich Insurance Completes £8.1 Billion Acquisition of Beazley
Zurich Insurance Group has completed its £8.1 billion ($10.7 billion) of Lloyd’s insurer Beazley, effective today. Beazley shares were suspended this morning from the London Stock Exchange with delisting planned for Oct. 2. Under the terms of the deal (known …
Senate Blocks Bill to Address Data Center Costs
The US Senate on Sept. 30 blocked legislation requiring state utility regulators to consider whether large electricity users, including data centers, should bear the incremental costs of power infrastructure built to serve them and thus ease the burden on households. …
US Fund Accuses Radiant World of Fraud in Swiss Complaint
A US fund has filed a criminal complaint in Switzerland accusing Radiant World and related companies of fraud and money laundering, according to a US court filing, adding a new jurisdiction to the iron ore trader’s escalating legal and financial …
Wisconsin Manufacturer Settles Religious Accommodation Request
Generac Power Systems, a Wisconsin generator manufacturer, reached an agreement with the U.S. Equal Employment Opportunity Commission (EEOC) to resolve for monetary and injunctive relief a religious accommodation charge involving an employee’s request to use biological pronouns for another employee, …
Illinois Governor Creates Cabinet to Explore AI Regulation
Gov. JB Pritzker is setting up a new group within state government to explore more regulations for artificial intelligence as calls grow across the country for new restrictions. Pritzker signed an executive order lsat week to establish an AI Cabinet …
Seven Indicted in Louisiana Arson Scheme to Defraud Insurers
Seven people were indicted this week in a years long arson-related insurance fraud scheme involving fires set intentionally in Monroe, Louisiana. The U.S. Attorney’s Office in the Western District of Louisiana alleges that between 2019-2026, the defendants rented homes, obtained …
Texas Stock Exchange Raises $155 Million After First Listings
The parent company of the Texas Stock Exchange raised $155 million in a third funding round, bolstering its financial firepower as it challenges the New York Stock Exchange and the Nasdaq for equities listings. TXSE Group Inc.’s existing shareholders are …
Bayer Faces Trial Test of Remaining Roundup Claims After Supreme Court Win
Attorneys for three cancer patients told a Missouri jury on Sept. 29 that Bayer’s Monsanto unit failed to adequately test its Roundup weedkiller before selling it, starting a trial that could help determine the viability of some Roundup lawsuits after …
China Has an 18-Wheel Answer to Soaring Global Diesel Prices
As Qu Shaolong pulls his electric truck into one of the many charging stations that dot the Chinese coal hub of Yulin, the latest phase in the country’s energy transition is playing out in real time. The roads in this …
