INSURANCE NEWS
Fire at Airport Cargo Complex Disrupts Bangladesh’s Garment Exports
A massive fire at the import cargo complex of Dhaka airport has caused extensive damage to goods and materials belonging to major garment exporters, with losses and impacts on trade likely to run into millions of dollars, industry leaders said …
Operation Underway to Salvage LPG Tanker MV Falcon After Explosion in Gulf of Aden
An operation was underway on Monday to salvage the liquefied petroleum gas tanker MV Falcon, which remains on fire and adrift in the Gulf of Aden following an October 18 explosion on board, maritime security sources said. The Cameroon-flagged vessel …
Insurance Agency M&A Picks Up in Q3 but Down for the Year: OPTIS
The pace of insurance agency mergers and acquisitions picked up during the third quarter of 2025 but as of Sept. 30, M&A is down 7% this year compared to last year. According to investment banking and financial consulting firm OPTIS …
A 7-Minute Louvre Heist Leaves Behind DNA and Dropped Crown
It took just seven minutes for robbers armed with disc grinders to get in and out of the world-famous Louvre museum in Paris with a stash of royal necklaces, tiaras and earrings. They left the nearby 140-carat “Régent” diamond untouched, …
KKR, Quadrantis to Acquire Minority Stake in Hong Kong’s Peak Re
KKR & Co. and Quadrantis Capital agreed to acquire minority stakes in Hong Kong-based Peak Reinsurance Co. KKR and Quadrantis will hold about 11.3% and 1.8% of Peak Re, respectively, after the deal is completed, according to a statement Tuesday, …
‘Massive Legal Siege’ Against Social Media Companies Looms
Thousands of plaintiffs’ complaints, millions of pages of internal documents and transcripts of countless hours of depositions are about to land in US courtrooms, threatening the future of the biggest social media companies. The blizzard of paperwork is a byproduct …
Shutdown Stalemate Brings IPO Holdouts Off the Sidelines
Companies on deck to go public in the US are powering forward with unconventional IPO plans despite the lingering government shutdown, taking many on Wall Street by surprise. Travel software startup Navan Inc. and electric plane-maker Beta Technologies Inc., two …
North Carolina Supreme Court Lets Stand Greg Lindberg’s Civil Fraud Liability
The North Carolina Supreme Court has decided that it will not, after all, review another legal filing by convicted insurance entrepreneur Greg Lindberg. The Oct. 17 ruling lets stand a 2023 decision by the state Court of Appeals, which found …
The Next Big Film Studios Could Be in Nevada if Some Unions Get Their Way
Movies like “The Hangover” and “Ocean’s Eleven” piqued interest in the Las Vegas Strip long ago. But now Nevada labor unions hoping to boost jobs and tourism are pushing state officials to offer tax credits aimed at bringing more Hollywood …
New York Workers’ Comp Board to Two Virtual-Only Locations
The New York State Workers’ Compensation Board will be closing its virtual-only Allegany and New City locations, effective December 8, 2025. Noting that most of its activity remains virtual, the board said it is consolidating some of its smallest, low-activity …
Renaissance Acquires Insurance Services of The West
Renaissance acquired the agency network business of Insurance Services of the West LLC, doing business as Insurance Agency Network in Washington. IAN is a membership organization with more 70 members representing a reported $400 million in premium. IAN is the …
WR Berkley Q3 Net Income Up Near 40%
Third quarter 2024 net income at W.R. Berkley Corp. increased nearly 40% compared to the same period a year ago Net income was about $511 million for Q3 2025 compared to net income of about $365.6 million a year ago …