Posts by Hometown Insurance
Marsh McLennan’s Carpenter Launches Capital & Advisory Group, Led by Schnieders
Guy Carpenter, the reinsurance business unit of Marsh McLennan, announced the formation of the Capital & Advisory group as part of its Global Capital Solutions unit. The business also announced the appointment of Alexander Schnieders as global head of Capital …
Read More US Military Confirms Houthi Missile Strikes on Two Ships in Gulf of Aden
Yemen’s Houthi damaged two commercial vessels in missile attacks in the Gulf of Aden in the last 24 hours as part of the militia group’s ongoing campaign against international ocean shipping, U.S. Central Command (CENTCOM) said on Sunday. The Iran-backed …
Read More Russian Oil Tanker Does Secret Cargo Switch Near Singapore to Dodge US Sanctions
The first Russian oil tanker attempting to deliver crude while under US sanctions made a secret cargo transfer onto another ship, a sign of the lengths to which Moscow is going to undermine the effectiveness of American restrictions on its …
Read More Global Reinsurance Sector Outlook Revised to Positive on Robust Profits, Tighter T&Cs
The market segment outlook for the global reinsurance segment has been revised to positive from stable after the sector saw robust profit margins in 2023, according to AM Best, which attributed the sector’s improved performance to higher attachment points and …
Read More Former Allianz Employee Pleads Guilty to Fraud Over $7-Billion Funds Collapse
A former Allianz fund manager pleaded guilty on Friday over his role in a meltdown of private investment funds sparked by the pandemic that caused an estimated $7 billion of investor losses. Gregoire Tournant, 57, of Basalt, Colorado, admitted to …
Read More Person With Bird Flu Dies in Mexico: WHO
A person with prior health complications who had contracted bird flu died in Mexico in April and the source of exposure to the virus was unknown, the World Health Organization said on Wednesday. WHO said the current risk of bird …
Read More Top Law Firms in US Opioid Lawsuits to Get Hundreds of Millions in Fees
A court-appointed panel on Friday recommended how to divvy up a pool of $2.13 billion in legal fees from nationwide drug industry settlements over the U.S. opioid crisis, with top firms set to receive hundreds of millions of dollars. The …
Read More Catastrophe Bond Sales Soar as Markets Brace for Unusually Active Hurricane Season
Issuance of catastrophe bonds just hit a record high, as the market braces for a rough hurricane season with the potential to do substantial damage. Sales of so-called cat bonds are 38% higher this year through May than over the …
Read More South Carolina DOI Sets Another Data Call on Liability Market Issues in the State
The South Carolina Department of Insurance is again requesting carrier data on the health of liability insurance markets in the state. “As you are aware, South Carolina and other states have seen liability markets harden significantly over the past several …
Read More Disney to Invest $17B in Florida Parks Now That Fight with DeSantis Has Cooled
ORLANDO, Fla. (AP) — Months after Disney and Gov. Ron DeSantis’ appointees agreed to end a protracted legal fight, the two sides are set to approve an agreement that could result in the company investing up to $17 billion into …
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