INSURANCE NEWS
Finnish Insurer Sampo Picks Thorsrud as CEO to Succeed Magnusson
Finland’s Sampo Oyj appointed Morten Thorsrud to succeed retiring Torbjorn Magnusson as chief executive officer, in a sign of continuity at the helm of the property and casualty insurer. Thorsrud, who currently runs the If P&C unit within the group, …
Asset Owners With $9.5 Trillion Call for Stopping Deforestation
A coalition of pension funds and insurance companies holding a combined $9.5 trillion of assets has called on investors to ensure their portfolios aren’t supporting or enabling deforestation. The Net-Zero Asset Owner Alliance, whose signatories include Allianz SE and the …
People Moves: Hamilton Re and Hamilton Global Specialty Announce CEO Appointments, as Graves Retires; Aon Promotes Rieth to Global Cyber Leader
This edition of International People Moves details appointments at Hamilton Re and Hamilton Global Specialty as well as Aon. A summary of these new hires follows here. Hamilton Re, Hamilton Global Specialty Name New CEOs, as Graves Retires Hamilton Insurance …
Oklahoma Man Arrested for Illegal Marijuana Grow Operations
An Oklahoma man faces felony charges for illegally growing marijuana, Attorney General Genter Drummond’s office announced. Hui Tang, 51, of Kingfisher, was arrested in the wake of a May 29 raid by The Attorney General Office’s Organized Crime Task Force. …
Storm System Brings Severe Weather and Tornadoes to Central Plains and Midwest
A powerful storm system brought severe weather across parts of the Central Plains and Midwest early this week, with more storms forecast for Wednesday. A moist and unstable atmosphere led to significant rainfall, hail and tornadoes in Minnesota on Monday, …
How Big Batteries Could Prevent Summer Power Blackouts
In any other year, May 14 may well have been an energy disaster in Texas. Temperatures climbed to seasonal levels not seen in over a century: 92F in Dallas, 95F in Houston and 104F in Laredo. Air conditioners hummed en …
Eighth Circuit: Travelers Doesn’t Owe in Missouri Apartment Construction Delay Case
A real estate investment firm isn’t covered for losses of rental income and soft costs over a delayed Missouri apartment construction project after the Eighth Circuit determined the firm’s status as an “Additional Named Insured” doesn’t qualify for such losses. …
China’s Financial Opening Up Offers Opportunities for Global Capital, Regulator Says
China’s financial opening up and rapidly growing consumer market benefit the country and provide better asset allocation opportunities for global capital, Li Yunze, the head of China’s financial regulator, said in Shanghai on Wednesday. Total assets under foreign banks and …
Nuclear-Powered Cargo Ships Promise Cleaner Transport but Could Be Hard to Insure
The commercial shipping industry is chasing a novel carbon-free propulsion technology as it pursues a lofty climate goal: nuclear power. Shipping accounts for more planet-warming greenhouse gas emissions than Japan. The sector is responsible for 3% of all emissions globally, …
US Homeowners Insurance Rates Rose 40.4% in Six Years, Report Shows
U.S. homeowners insurance rates rose 40.4% over the past six years, with the biggest increases hitting in the last two years, a new report shows. LendingTree’s 2025 State of Home Insurance Report shows rates from 2019 through 2021 remained stable, …
Alabama-based CRC Group Rebrands BenefitMall as CRC Benefits
Three years after it purchased BenefitMall, Alabama-based CRC Group is rebranding its employee benefits division as CRC Benefits, the company announced this week. The change marks a significant step in aligning the division with CRC Group’s broader go-to-market strategy and …
AM Best Downgrades Credit Ratings of Oregon Mutual Group Members
AM Best has downgraded the Financial Strength Rating to B- (Fair) from B++ (Good) and the Long-Term Issuer Credit Ratings to “bb-” (Fair) from “bbb” (Good) of Oregon Mutual Insurance Company and Western Protectors Insurance Company, which are domiciled in …