Insurance
Georgia Coliseum Closed for Repairs after Concrete Chunk Falls from Ceiling
Georgia’s Stegeman Coliseum has been closed for repairs after a small piece of concrete fell from the ceiling of the nearly 60-year-old facility that hosts several of the university’s sports teams and school graduation ceremonies in the spring. No one …
Read More Florida’s Heritage Insurance Posts Q4 Profit, But Losses for the Year
Heritage Insurance Holdings Inc. (HRTG) on Thursday reported fourth-quarter net income of $12.5 million, after reporting a loss in the same period a year earlier. For the year 2022, though, the company reported that its loss widened to $154.4 million, …
Read More Claims Management Firm Crawford & Co. Posts 4Q Loss for 2022
Crawford & Co. (CRD. A), a claims management and adjusting firm for insurers, reported a fourth-quarter loss of $14.1 million, after reporting a profit in the same period a year earlier. On a per-share basis, the Atlanta-based company said it …
Read More New Reinsurance Brokerage, ReFlex Solutions, Launches in Bermuda
ReFlex Solutions Ltd., a new independent reinsurance brokerage, has launched in Bermuda with near-term plans for expansion into London and the U.S. The new business is led by Neville Ching, an industry veteran with 40 years’ experience in broking. The …
Read More People Moves: Childs to Retire as Chair of Hiscox; Optio Taps Munich Re’s Kennett as UK Head of Political Risk & Terrorism; Conduit Re Names BMS Re’s Binetti to Lead Casualty
This edition of International People Moves details appointments at Hiscox, Optio Group and Conduit Re. A summary of these new hires follows here. Childs to Retire as Chair of Hiscox Board Hiscox Ltd., the international specialist insurer, announced that Robert …
Read More UK Insurtech Azur Group Sells Tech Services Unit to Senior Managers, Creating New Firm
Azur Group, the UK-based insurtech, has agreed to sell its technology services business to its senior managers, backed by prominent angel investors. The new company will be called Azur Technology and will focus on the development of digital systems for …
Read More Cyclone Freddy Sets New Record as World’s Longest-Lasting Tropical Storm
A tropical cyclone churning off the coast of Madagascar and expected to make landfall for a second time in Mozambique on Saturday — packing winds of as much as 190 kilometers (118 miles) per hour — appears to have smashed …
Read More Canada Financial Watchdog Sets Rules for Insurers, Banks on Climate Risk Disclosure
Canada’s financial industry regulator published a set of guidelines for banks, insurance companies and other regulated firms to assess and disclose climate risks. Financial firms will need to release climate-related financial disclosures at least once a year, the guidance from …
Read More Telematics Master Class: How Progressive Offers Competitive Prices
During an investor conference last week, Progressive’s leader revealed some subtle wording changes to the company’s purpose and vision. Unchanged, however, are four pillars of Progressive’s strategy, including one pillar labeled “competitive pricing.” “Segmentation is a key facet of our …
Read More People Moves: Ryan Hired to Lead AGCS North America; Goosehead Leadership Promotions; New Private Equity Head at LSM
Tracy Ryan will join the Allianz Global Corporate & Specialty SE Board of Management as Chief Regions and Markets Officer for North America. She succeeds William (Bill) Scaldaferri who has decided to leave Allianz after 23 years, 11 of which …
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