Posts by Hometown Insurance
Reuters: Iran, Russia and the New Zealand Insurer That Kept Sanctioned Oil Flowing
Last Christmas, the tanker Yug cruised out of the Chinese port of Qingdao after offloading 2 million barrels of sanctioned Iranian oil. Near the Arctic, a vessel carrying Russian crude churned through icy seas, bound for India. Six thousand miles …
Read More Ryan Specialty Agrees to Acquire Canadian MGU Stewart Specialty Risk Underwriting
Ryan Specialty, the Chicago-based specialty insurance firm, announced it has signed a definitive agreement to acquire Stewart Specialty Risk Underwriting Ltd. (SSRU). Terms of the deal were not disclosed. SSRU is a managing general underwriter (MGU) based in Toronto, Canada, …
Read More Ex-PIMCO Executive Plans to Launch Europe’s First ETF Based on Catastrophe Bonds
Europe may soon get its first exchange-traded fund based on catastrophe bonds. An application to register the ETF was filed in Ireland, according to Rick Pagnani, co-founder and chief executive officer of King Ridge Capital Advisors. “This is an opportune …
Read More Hurricane Melissa Nears Jamaica as Island’s Worst-Ever Storm
Jamaican officials urged residents to brace for Hurricane Melissa as it tracked toward the island at Category 5 strength, packing intense rains and winds and threatening to cause widespread destruction. Melissa’s top winds are holding at 175 miles (282 kilometers) …
Read More Catastrophe Bond Investors Told to Brace for Jamaica Payout
Investors in a catastrophe bond tied to Jamaica look set to experience a trigger event as Hurricane Melissa barrels toward the Caribbean island as a Category 5 storm. “Based on current models there is a high chance that there will …
Read More Canada Pension Fund Sued by Young People Over Climate Risks
The Canada Pension Plan Investment Board was sued by a group of young people who claim the pension fund is putting their benefits in jeopardy by mismanaging climate-related financial risks. Aliya Hirji, Travis Olson, Ravneet Singh and Chloe Tse, who …
Read More PepsiCo Resolves Lawsuit Over Gatorade Health Bar Claims
PepsiCo has resolved a lawsuit accusing it of falsely marketing its Gatorade protein bars as good for you, though they contain more sugar than protein and more sugar than Snickers bars and chocolate-frosted Dunkin’ donuts. U.S. District Judge Casey Pitts …
Read More Kentucky Supreme Court Weighs in on Three Workers’ Comp Cases
State Supreme Court reviews of workers’ compensation cases are rare, but in Kentucky last week, the state high court handed down no fewer than three opinions – all of which emphasize long-established case law. The court ruled against an insurer …
Read More Officer Faces Misconduct Charge for ATM, Pizza Stops Instead of Murder Investigation
A New Jersey officer has been charged with misconduct after prosecutors say he didn’t quickly respond to and properly investigate reports of a shooting that turned out to be a double murder, instead stopping at an ATM and pizzeria. Franklin …
Read More AIG to Acquire Renewal Rights of Everest’s Retail Commercial Business Worth $2B
American International Group today said it has a definite agreement to acquire the renewal rights for most of the Everest Group’s retail commercial insurance business. Everest will focus on its global wholesale and specialty insurance businesses. The renewal rights of …
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