INSURANCE NEWS
Louisiana Fortify Homes Program Opens Second Round of Grants
The Louisiana Fortify Homes Program (LFHP) opened its second round of grants this week. Homeowners must have a policy with Louisiana Citizens Property Insurance Corporation to apply for one of 1,000 grants available in the second round. Grants will be …
People Moves: Padilla Named President of the Independent Insurance Agents of Illinois
Allyson Padilla Named President of the Independent Insurance Agents of Illinois Allyson Padilla of Blank’s Insurance Agency in Olney, Illinois, has been elected and was formally installed as the President of the Independent Insurance Agents of Illinois (IIA of IL) …
People Moves: Zurich Nordic Promotes Fritz to CEO; Arch Taps Cyber U/Ws From Tokio Marine and AIG; Liberty Names RSA’s Furlan as Head of Casualty, Europe
This edition of International People Moves details appointments at Zurich Insurance, Arch Insurance and Liberty Specialty Markets. A summary of these new hires follows here. Zurich Promotes Fritz to CEO Zurich Nordic Zurich Insurance has appointed Mattias Fritz, currently Nordic …
Arthur J. Gallagher & Co. Acquires Michigan’s Meadowbrook
Arthur J. Gallagher & Co. announced it has acquired the assets of Southfield, Michigan-based Meadowbrook Insurance Agency. Terms of the transaction were not disclosed. Meadowbrook Insurance Agency is a retail insurance broker offering a comprehensive range of property/casualty and group …
Texas Department of Insurance Names Rudnai as Captive Specialist
The Texas Department of Insurance (TDI) has announced the hiring of Robert Rudnai as its captive insurance specialist. Rudnai is responsible for licensing and monitoring Texas-based captives and alerting businesses to the potential of starting a captive. In 2013, the …
Net-Zero Investor Group Reports Financing Activities Lead to Emissions Decline
A $9.5 trillion investor group that includes Allianz SE, Legal & General Plc and the California Public Employees’ Retirement System reported a modest decline in greenhouse gas emissions enabled by its members’ lending and investment activities, the first time it …
Travelers Q3 Net Income Down 11% on Catastrophe Losses, Reserve Development
Third quarter net income at Travelers Cos. fell 11% compared to the prior-year quarter to $404 million on higher catastrophe losses and unfavorable reserve development. As one of the first insurers to report quarterly results, New York-based Travelers said it …
Markets/Coverages: Digital Lloyd’s Syndicate Ki Partners With Travelers and Aspen to Expand Follow Capacity
Ki, the first fully digital and algorithmically driven Lloyd’s syndicate, announced that Travelers and Aspen will offer additional follow capacity through its digital platform from Jan. 1, 2024. As a result of this partnership, Ki will become the first algorithmic …
California Trucking Group Challenges State’s Zero-Emissions Rule
The California Trucking Association (CTA) has asked a federal judge to stop a state rule that would require truckers to switch to zero-emissions vehicles by 2042, calling it “a vast overreach” that threatens the survival of industry. The trucking group …
Ukraine’s Risky Bet on Black Sea Shipping Corridor Pays Off as Ships Stream Into Ports
A steady stream of ships is hauling grain and metals from Ukraine a month after the first inbound vessel sailed through its new shipping corridor in the Black Sea in defiance of Russian threats. More than 30 vessels have called …
Commercial Fleet Insurtech Nirvana Secures $57M in Series B Funding
Nirvana Insurance announced a $57 million Series B funding round with Lightspeed Venture Partners investing again to lead the round, and additional participation from General Catalyst and Valor Equity Partners. The new funding positions San Francisco-based Nirvana to make substantial …
Hamilton Insurance Group Files IPO Registration With SEC
Hamilton Insurance Group Ltd., the Bermuda-based special re/insurer, announced it has filed a registration statement with the US Securities and Exchange Commission, relating to a proposed initial public offering of its common shares. Hamilton intends to apply to list the …