Insurance
Floods, Storms Drive Global Insured Catastrophe Losses of US$38B in H1 2022: Swiss Re
A series of winter storms in Europe, record floods in Australia and South Africa as well as a high number of thunderstorms in the U.S. and Europe resulted in US$35 billion of insured losses from natural catastrophes in the first …
Read More Howden’s Aston Lark Ireland Acquires Sparrow Insurances
Aston Lark Ireland, the insurance broker that recently became part of Howden Broking Group, announced the acquisition of Sparrow Insurances Ltd. Financial details of the transaction were not disclosed. Sparrow Insurances has a history of success and growth across Leinster …
Read More Jensten Group Acquires UK MGA Origin UW
The Jensten Group, the London-based independent insurance broking group, has completed the acquisition of Origin UW Ltd., following regulatory approval. Origin UW is a boutique managing general agent that provides commercial insurance solutions for SME businesses and professionals. Origin specializes …
Read More England Records Driest July Since 1935 Amid Searing Heat Wave
England had the driest July since 1935 amid a searing heat wave that pushed infrastructure to the brink and severely disrupted travel. The unusually dry weather came as temperatures rose above 40 degrees Celsius (104 Fahrenheit) for the first time. …
Read More UK Motor Insurer Direct Line to Raise Premiums After H1 Profit Hit
British motor insurer Direct Line is raising premiums after higher claims hit its first-half profits, as the company feels the effects of soaring prices for everything from used cars to spare parts. Chief Executive Penny James said on Tuesday the …
Read More Generali Beats Forecasts With H1 Net Profit of $1.4 Billion
Italy’s top insurer Assicurazioni Generali said on Tuesday it would increase prices to keep up with rising costs, and maintained its financial targets after a strong life business helped it beat first-half earnings expectations. Generali, which on Wednesday will kick …
Read More Sandy Hook Families Cast Wary Eye on New Infowars Bankruptcy
Families of Sandy Hook school shooting victims have quickly raised the alarm over the latest legal maneuver from far-right radio show Infowars and its proprietor, Alex Jones. The ultimate parent of Infowars, Free Speech Systems LLC, filed for Chapter 11 …
Read More Hartford, CNA Post Drops in Q2 Net Income
Second quarter earnings at The Hartford fell to $437 million – about 51% less than the same period a year ago. Hartford said it booked a $485 before-tax change from net realized gains to net realized losses during Q2. The …
Read More Demotech Downgrades Three in Florida; AM Best, KBRA Say They’re Available
Just two weeks after the Demotech financial rating firm set off a firestorm of controversy by warning that it could soon downgrade as many as 17 Florida property insurers – then promised to hold off – the firm has now …
Read More Pennsylvania Store Chain Wawa to Pay $8M Over 2019 Payment Cards Breach
A Pennsylvania-based convenience store chain will pay $8 million to several states over a 2019 data breach that involved some 34 million payment cards, authorities announced Tuesday. The Pennsylvania attorney general’s office said Wawa Inc. did not take reasonable security …
Read More