INSURANCE NEWS
People Moves: Everest Promotes 2 Senior Leaders in Reinsurance Division; CFC Hires 2 for New Specialist Team Focused on M&A Tax Risks
This edition of International People Moves details appointments at re/insurer Everest Group and the managing general agent CFC. A summary of these new hires follows here. Everest Promotes 2 Senior Leaders in Reinsurance Division Everest Group Ltd., the global property, …
UnitedHealth Blamed ‘Nation-State’ Threat in Hack That Disrupted Pharmacy Orders
A cyberattack against a division of UnitedHealth Group Inc. has caused a nationwide outage of a computer network that’s used to transmit data between health-care providers and insurance companies, rendering some pharmacies unable to process prescriptions, according to the company …
Specialist Fire Research Consultancy Halliwell Launches London Office
Halliwell Fire Research, the Auckland, New Zealand-based applied fire research consultancy, has expanded its international presence with the launch of a London office. The expansion follows the recent rebrand of Fire Research Group (FRG) to Halliwell Fire Research, which saw …
Fitch: Homeowners Insurers’ Results to Improve In 2024
U.S. homeowners’ insurance is in position to improve in 2024, according Fitch Ratings. The rating agency said premium revenue growth, tied to recent substantial price increases and more diligent underwriting to manage risk concentrations and aggregations, points to improvement in …
Houthis to Step Up Red Sea Strikes, Use ‘Submarine Weapons’, Leader Says
Yemen’s Iran-aligned Houthis claimed responsibility for an attack on a UK-owned cargo ship and a drone assault on an American destroyer on Thursday, and they targeted Israel’s port and resort city of Eilat with ballistic missiles and drones. The statement …
A Decade After MH370, Planes Still at Risk of Vanishing Off the Map
“Good Night. Malaysian Three Seven Zero.” Those six words were the last radio transmission from the cockpit of Malaysia Airlines Flight 370, less than an hour after the aircraft took off late at night from Kuala Lumpur to Beijing on …
Allianz Grows Wealth Bet With Stake in $68 Billion Money Manager AlTi
Allianz SE is making a strategic investment in money manager AlTi Global Inc. in an expansion of the insurance giant’s global holdings in wealth management. The German insurer’s venture arm, together with alternative asset management platform Constellation Wealth Capital, will …
Allianz Shares Drop on Weak Results in P/C Insurance
Allianz SE shares fell as the German insurance giant reported earnings in its property-casualty business that missed expectations. Fourth-quarter operating profit in the segment came in at €1.6 billion ($1.7 billion), Allianz said Friday. That was below the €1.8 billion …
Iowa School District to Pay $20K to Settle Gender Policy Lawsuit
MARION, Iowa (AP) — An Iowa school board has reached an agreement resolving a lawsuit over a now-rescinded district policy that allowed students to request a gender support plan to begin socially transitioning at school, without the permission of their …
AccuWeather Warns of Potential ‘Super-Charged’ 2024 Hurricane Season
AccuWeather experts warn that the return La Niña and historically warm water across the Atlantic Ocean could contribute to a “super-charged” hurricane season in 2024. AccuWeather long-range forecasters say that the current El Niño pattern is expected to transition to …
3 Emerging Risks: AI-Driven Civil Unrest, Heavy EVs, Solar Panel Safety
Technology is poised to take over traditional markets and is rapidly creating new ones. For example, this trend is evidenced by the adoption of electric vehicles, demand for solar energy, and the blistering pace of generative AI adoption. Yet these …
AT&T Restores Service After Hours of Outage
AT&T said it had restored wireless service for all affected customers, several hours after a cellular phone outage on Thursday disrupted calls and text messages for thousands of U.S. users, prompting an investigation by federal agencies. The wireless carrier, whose …