INSURANCE NEWS
Professional Services Firm Davies Completes Acquisition of Asta at Lloyd’s
Davies, the London-based specialist professional services and technology business, announced it has completed the acquisition of Asta Capital, the third-party managing agent at Lloyd’s, following receipt of regulatory approval. Davies said the deal adds significant strength and reach to its …
ANZ Agrees to Buy Australian Insurer Suncorp’s Bank Operations for $3.3 Billion
Australia & New Zealand Banking Group Ltd. agreed to buy Suncorp Group Ltd.’s banking operations for A$4.9 billion ($3.3 billion) as it seeks to gain an edge over larger rivals by expanding in the country’s fastest growing region. The lender …
Malaysian Central Bank Sets 2023 Cutoff for Foreign Insurer Stake Sales: Sources
Malaysia’s central bank is giving foreign insurers until the end of 2023 to either reduce stakes in their local ventures or contribute to a charitable fund, people with knowledge of the matter said, more than a decade after the requirement …
Europe Battles Wildfires in Intense Heat That Scientists Blame on Climate Change
JERTE, Spain – Authorities across southern Europe battled on Sunday to control huge wildfires in countries including Spain, Greece and France, with hundreds of deaths blamed on soaring temperatures that scientists say are consistent with climate change. In Spain, helicopters …
MLB Agrees to Pay $185 Million to Settle Minor League Wage Suit
Major League Baseball agreed to pay $185 million as part of a settlement with minor league ballplayers who say the league exploits them, knowing they will play for peanuts for a chance to make it to the big show. The …
Ascend, AmeriSave Expand Insurance Programs
Ascend Inks Payment Platform Agreement with Independent Agents of North Carolina Ascend, an insurance payments platform, has announced an agreement with Independent Insurance Agents of North Carolina to provide automated financing, collections and payables. Participating agents can have access to …
World Insurance Acquires Walker Agency in Massachusetts
World Insurance Associates reports it has acquired Allan M. Walker Insurance Agency of Taunton, Massachusetts. Terms of the transaction were not disclosed. The Allan M Walker Insurance Agency has been in business since1847. It offers commercial and personal insurance, as …
New Alabama Regs Kick in on Custodials, Clearing Co’s, Captives and Home Fortification
The Alabama Department of Insurance has updated a number of regulations in keeping with the National Association of Insurance Commissioners’ model regulations and recommendations from the Insurance Institute for Business and Home Safety. Some of the rules, which take effect …
People: Georgia Agents Elect Iverson President
The Independent Insurance Association of Georgia has installed longtime member Michael Iverson as president of the organization. Iverson is CEO of the M.D. Iverson Group, an insurance agency in Fairburn, Georgia. He has previously served as chairman of the IIAG, …
California Surplus Lines Association Lowering Stamping Fee
The Surplus Line Association of California board voted to drop the association’s stamping fee to 0.18%. Effective Jan. 1, 2023, the stamping fee will adjust downward from its current 0.25% level that took effect on Jan. 1, 2020. The stamping …
Iowa Assistant AG Sues Des Moines Police Over Protest Arrest
An assistant attorney general in Iowa is suing the city of Des Moines and its police chief over his arrest during a June 2020 racial justice protest, alleging he was tackled, pepper-sprayed and handcuffed for no reason. The lawsuit filed …
NTSB: Dad, Not 13-Year-Old, Was Driving Truck That Hit Golfers’ Van in Texas
A Texas man, not his 13-year-old son, was driving the pickup truck that crossed into the oncoming lane and struck a van carrying New Mexico college golfers, killing nine people, and he had methamphetamine in his system, investigators said Thursday. …