Posts by Hometown Insurance
January’s Property Cat Renewals See Biggest Price Hikes in Turkey, Italy and US
While the reinsurance market indeed stabilized during the January 2024 reinsurance renewals (from the chaotic January renewals of last year), buyers with loss-affected programs experienced further upward pressure on retentions and prices, according to reinsurance brokers in comments about the …
Read More BMS Finalizes Acquisition of UAE’s Berns Brett Masaood, Rebranded as BMS Masaood
BMS, the London-based specialist insurance and reinsurance broker, has completed its majority stake acquisition of Berns Brett Masaood (BBM), a leading UAE insurance broker established in 2007 and headquartered in Abu Dhabi and Dubai. Financial details of the transaction, first …
Read More Howden Acquires Norwegian Broker Arctic Insurance AS
Howden, the London-based insurance group, announced the acquisition of Arctic Insurance AS, a fast-growing Norwegian insurance broker. Financial details of the deal were not disclosed. This acquisition reflects Howden’s ambition to enhance its presence in the Nordic region, by investing …
Read More Russian Hackers Were Inside Ukraine Telecoms Giant for Months: Cyber Spy Chief
Russian hackers were inside Ukrainian telecoms giant Kyivstar’s system from at least May last year in a cyberattack that should serve as a “big warning” to the West, Ukraine’s cyber spy chief told Reuters. The hack, one of the most …
Read More Allianz Seeks to Buy Back Europe’s Biggest Old-School Bond
Insurance giant Allianz SE is looking to replace the biggest bond remaining under Europe’s old regulatory regime as it taps the market for new issues early on this year. The Munich-based insurer priced a new €1 billion junior note on …
Read More Japan Airlines Counts Losses From Wrecked Tokyo Plane
Japan Airlines on Thursday said it expected losses of more than $100 million after one of its planes was destroyed when it collided with another aircraft on the runway at Tokyo’s Haneda airport this week. All 379 people on board …
Read More SpaceX Illegally Fired Workers Critical of Elon Musk, US Labor Agency Says
Rocket and satellite maker SpaceX on Wednesday was accused by a U.S. labor agency of unlawfully firing eight employees for circulating a letter calling founder and CEO Elon Musk a “distraction and embarrassment.” A regional official with the National Labor …
Read More Florida Labor Supplier Sentenced to 12 Months for Tax, WC Insurance Fraud
The head of a Tampa-area labor supplier has been sentenced to 12 months in prison after she pleaded guilty to defrauding the IRS and workers’ compensation insurers out of millions of dollars. A federal judge in Tampa last week ordered …
Read More Florida Bill Would Require Option of Policies That Cover Only Unpaid Mortgage Amount
Ahead of Florida’s 2024 legislative session that begins Jan. 9, at least a dozen bills have been filed that could have an impact on the state’s insureds and insurers. It’s a sign that lawmakers are under renewed pressure to take …
Read More Was Man Who Fell to Death in Train Station a Passenger or Trespasser? Court Wants to Know.
The federal circuit appeals court for the District of Columbia (D.C.) has asked D.C’s highest court for guidance on the standard of negligence in a case involving a noticeably intoxicated man who died after falling from a train platform into …
Read More