INSURANCE NEWS
Study: Dozens Got Sick Visting Kansas Splash Park
A new federal study said dozens of people got sick after visiting a splash park near Wichita, Kansas, last summer. The study by the federal Centers for Disease Control and Prevention said that 21 people contracted Shigella bacteria and six …
People Moves: BHSI Enters Commercial Hull in Australasia, Hiring Hesson From QBE; Hannover Re Appoints Swiss Re’s Ooi to Oversee P/C Growth in APAC
This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance and Hannover Re. A summary of these new hires follows here. BHSI Enters Commercial Hull in Australasia, Hiring Hesson From QBE Berkshire Hathaway Specialty Insurance (BHSI) announced …
Argenta Ceases Underwriting New and Renewal Business in Singapore
Argenta Underwriting Asia Pte Ltd (AUA) announced that it will cease writing new and renewal business in Singapore with immediate effect. This decision follows a strategic review of the business written through the Singapore coverholder by Lloyd’s managing agency, Argenta …
AIG Exceeds Profit Estimates on Strong Underwriting Gains
Insurer American International Group Inc. beat market estimates for quarterly profit on Monday as a jump in underwriting income cushioned the blow from lower investment returns. Net premiums written in the company’s general insurance business rose 5% on a constant …
Brazil’s BB Seguridade Posts 86.6% Rise in Q2 Net Profit
Brazilian insurer BB Seguridade Participacoes SA on Monday increased its full-year outlook, citing higher-than-expected growth in written premiums as it posted an 86.6% rise in net profit in the second quarter. Shares in the company, controlled by state-run lender Banco …
Argo Group Hands Board Seat to Activist Hedge Fund Firm Voce Capital
Argo Group International Holdings handed a board seat to its largest investor on Monday, adding activist hedge fund manager J. Daniel Plants only a few months after announcing a strategic review that could include a sale of the insurance company. …
Independent Agents Place Majority of U.S. P&C Insurance: Big I
The independent agency channel places 62% of all property-casualty insurance written in the U.S., according to the Big “I” 2022 Market Share Report. The annual Market Share Report compiles and analyzes property and casualty premium data from AM Best and …
Allianz Weighs Sale of Stake in Saudi Arabia Unit
Allianz SE is considering a sale of its Saudi Arabian unit, people familiar with the matter said, a move that would help the German insurer streamline its portfolio and raise cash. The German insurer is working with an adviser on …
Report: Previously Flooded Carolina Homes Pose Risk to Buyers
A new Natural Resources Defense Council report exposes potential hidden costs associated with purchasing a single-family home with a flood history in North Carolina. According to the report, “Estimating Undisclosed Flood Risk in Real Estate Transactions,” these costs can add …
Tennessee’s Kemmons Wilson Joins Virtus Brokerage
Virtus LLC, a Kansas City-based insurance brokerage and consulting firm, has joined forces with Kemmons Wilson Insurance Group, a Memphis company that specializes in insuring hospitality and hotel firms. The combined firm will have more than 100 employees and a …
Truist Buys Texas-based BenefitMall
Charlotte-based Truist Insurance Holdings, one of the largest insurance brokerages in the United States, has agreed to acquire BenefitMall, the country’s largest wholesale benefits general agency. Truist officials said in a news release that the purchase will bring in an …
People Moves: Anderson Joins Safety National Cyber Team; Coalition Hires First CFO
Steven Anderson joins Safety National’s Cyber Insurance Team Steven Anderson has joined the Safety National cyber insurance team as Director of Cyber Underwriting. Anderson will be based out of the company’s Dallas office. With nearly 30 years of industry experience, …