Posts by Hometown Insurance
Munich Re’s Profit Slumps as It Takes $1 Billion Hit to Investment Portfolio
Munich Re’s profit slumped as the reinsurer took a hit of almost $1 billion to its investment portfolio in a volatile quarter for financial markets. The Munich-based company wrote down the value of its holdings by 908 million euros ($926 …
Read More CNA Hardy Online Raises Attachment Points for Excess-of-Loss Cover to £150M
CNA Hardy, the specialist commercial insurer that writes business within the Lloyd’s and company markets, announced increased flexibility in the attachment points available from its online excess-of-loss platform. By increasing the maximum attachment point capability from £25 million to £150 …
Read More Arkansas Supreme Court Asked to Put Marijuana Measure on Ballot
Supporters of a recreational marijuana initiative have asked the Arkansas Supreme Court to order election officials to put their measure on the November ballot. Responsible Growth Arkansas asked the court last week to reverse the State Board of Election Commissioners’ …
Read More Study: Dozens Got Sick Visting Kansas Splash Park
A new federal study said dozens of people got sick after visiting a splash park near Wichita, Kansas, last summer. The study by the federal Centers for Disease Control and Prevention said that 21 people contracted Shigella bacteria and six …
Read More People Moves: BHSI Enters Commercial Hull in Australasia, Hiring Hesson From QBE; Hannover Re Appoints Swiss Re’s Ooi to Oversee P/C Growth in APAC
This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance and Hannover Re. A summary of these new hires follows here. BHSI Enters Commercial Hull in Australasia, Hiring Hesson From QBE Berkshire Hathaway Specialty Insurance (BHSI) announced …
Read More Argenta Ceases Underwriting New and Renewal Business in Singapore
Argenta Underwriting Asia Pte Ltd (AUA) announced that it will cease writing new and renewal business in Singapore with immediate effect. This decision follows a strategic review of the business written through the Singapore coverholder by Lloyd’s managing agency, Argenta …
Read More AIG Exceeds Profit Estimates on Strong Underwriting Gains
Insurer American International Group Inc. beat market estimates for quarterly profit on Monday as a jump in underwriting income cushioned the blow from lower investment returns. Net premiums written in the company’s general insurance business rose 5% on a constant …
Read More Brazil’s BB Seguridade Posts 86.6% Rise in Q2 Net Profit
Brazilian insurer BB Seguridade Participacoes SA on Monday increased its full-year outlook, citing higher-than-expected growth in written premiums as it posted an 86.6% rise in net profit in the second quarter. Shares in the company, controlled by state-run lender Banco …
Read More Argo Group Hands Board Seat to Activist Hedge Fund Firm Voce Capital
Argo Group International Holdings handed a board seat to its largest investor on Monday, adding activist hedge fund manager J. Daniel Plants only a few months after announcing a strategic review that could include a sale of the insurance company. …
Read More Independent Agents Place Majority of U.S. P&C Insurance: Big I
The independent agency channel places 62% of all property-casualty insurance written in the U.S., according to the Big “I” 2022 Market Share Report. The annual Market Share Report compiles and analyzes property and casualty premium data from AM Best and …
Read More