INSURANCE NEWS
Pac-12, Mountain West Conferences Finalize ‘Poaching’ and Exit Fees Settlement
The Pac-12 and Mountain West conferences have finalized a settlement over “poaching” and exit fees. The two conferences announced on Tuesday that all sides have reached final agreements to settle all pending litigation. The statement included Boise State, Colorado State, …
Allstate Q2 Net Income Jumps 56% on Underwriting
Allstate Corp. second quarter 2026 net income applicable to common shareholders shot up nearly 56% with underwriting income up 56.7% during the period. Net income was about $3.2 billion for Q2 versus $about $2.1 billion for Q2. Underwriting income was …
Abuse Claimants Allowed to Sue for Parish Assets in Vermont Catholic Bankruptcy Case
A U.S. Bankruptcy Court will allow clergy abuse claimants to sue for an estimated half-billion dollars in parish assets to fund settlements under the Vermont Roman Catholic Diocese’s current financial reorganization case. In a written order, Burlington-based Judge Heather Cooper …
AI-Native Network American Growth Insurance Makes Heller-Kowitz its First Buy
An insurance brokerage network built around artificial intelligence has completed its first acquisition, adding Heller-Kowitz Insurance Advisors as its inaugural partner agency after spending the past year developing and testing its operating model and gaining private equity backing. Atlanta’s American …
Arthur J. Gallagher & Co. Acquires Canada’s Apollo Insurance Solutions
Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based insurance broker, announced the acquisition of Vancouver, British Columbia-based Apollo Insurance Solutions Ltd. Terms of the transaction were not disclosed. Apollo is a digital insurance broker and managing general agency (MGA) …
Everest Agrees to Sell Mexico Insurance Operations to Canada’s Fairfax Financial
Everest Group Ltd., the Bermuda-based specialty re/insurer, announced it has entered into a definitive agreement to sell its Mexico insurance operations – Compañía de Seguros Generales Everest México – to Fairfax Financial Holdings Ltd. Financial details of the deal were …
Swiss Re Profit Beats Estimates as Reinsurer Boosts Cost Cuts
Swiss Re AG’s first-half profit beat estimates as the reinsurer saw all key business units perform in line with targets, while the firm announced a fresh round of cost cuts. Profit for the second quarter was $1.3 billion, resulting in …
A Chinese Spyware Tool Operates in 13 Countries, Cyber Firm Says
A Chinese-built digital spyware tool has evolved into a more all-encompassing surveillance technology that’s in use in more than 13 countries, according to new research from a security firm. The cybersecurity firm Arctic Wolf Networks Inc. said Wednesday that it …
Google to Face UK Class Action for Alleged Abuse of Ad Power
Alphabet Inc.’s Google faces a class action lawsuit over alleged abuse of its dominance after an antitrust tribunal allowed a claim on behalf of hundreds of thousands of British firms to go ahead. The lawsuit alleged that Google overcharged businesses …
Brookfield Raises Record $77 Billion Driven by Insurance Arm
Brookfield Asset Management raised a record $77 billion in the second quarter, led mostly by its credit business, as the firm continues its push into the insurance sector. The firm’s distributable earnings climbed 15% to $707 million, or 44 cents …
Zurich Insurance Earnings Boosted by Global Data Center Demand
Zurich Insurance Group AG reported a 13% gain in profit for the first half of 2026 as it saw accelerating demand across all businesses, boosted by global data center and energy infrastructure demand. Group operating profit rose to $4.77 billion, …
NYC Law on Sharing Food Selivery Apps’ Data Unconstitutional, Appeals Court Rules
A U.S. appeals court said on Wednesday that a New York City law requiring food delivery companies to share customers’ data with restaurants is unconstitutional. In a 3-0 decision, the 2nd U.S. Circuit Court of Appeals in Manhattan said the …