INSURANCE NEWS
Cargo Theft Surges to Record Levels in 2024
2024 saw record-breaking cargo theft activity across the United States and Canada, with 3,625 reported incidents representing a 27% increase from 2023, according to global data analytics and technology provider CargoNet, a Verisk company. The estimated average value per theft …
New Wildfires Erupt in California, Forcing Thousands to Evacuate
Two new wildfires that erupted in Southern California are spreading quickly over dry hillsides and forcing evacuations, stoking new fears in a region that’s been devastated by recent deadly blazes. The Hughes Fire, which began Wednesday and grew within hours …
Sky Betting Illegally Collected Gambler’s Data, Court Rules
A unit of Fanduel-owner Flutter Entertainment Plc illegally collected the data of a gambling-addicted customer to profile him for marketing purposes online, a London judge ruled. Bonne Terre Ltd., operating as Sky Betting and Gaming, breached UK data protection law …
OPTIS: 2024 Insurance Agency M&A Down 10%, Highlighted by 3 Large Deals
The total number of insurance agency mergers and acquisitions in 2024 was down 10% compared to 2023, according to investment banking and financial consulting firm OPTIS Partners. OPTIS Partners’ M&A database counted 750 announced insurance agency mergers and acquisitions in …
Highstreet Expands Again With Acquisition of Winder Insurance in Georgia
Highstreet Insurance Partners has continued its rapid growth with the acquisition of Winder Insurance Center in Winder, Georgia. Helmed by Russ Shepley and Brett Gamblin, the Winder agency has offered personal and business lines, including home, auto, life, commercial real …
Worst Snowstorm in 130 Years Plunges US South Into Frigid Chaos
Across the US South, extreme weather usually means boarding up windows against hurricane winds and lining streets with sandbags to hold back floods. This week, freezing temperatures and record-breaking snowfall are instead sending residents from Florida to Texas rushing to …
Banks Have Unfair Edge Over Insurers in M&A Race: NN CEO Says
A top European insurance executive slammed a piece of regulation that has emerged as key driver behind a recent slate of asset management acquisitions by banks. The rule known as Danish Compromise gives the region’s lenders “an advantage” when buying …
Everest Group Names Williamson as Permanent Chief Executive Officer
Everest Group Ltd., the Bermuda-based property/casualty and specialty re/insurer, announced that its Board of Directors has appointed Jim Williamson as president and chief executive officer, effective immediately. Williamson was most recently Everest’s acting CEO, a position he assumed when Juan …
Storm Éowyn Set to Bring ‘Weather Bomb’ to UK and Ireland
Storm Éowyn will bring a “weather bomb” to Ireland and the UK, unleashing destructive winds and heavy rain, the Met Office forecaster said. People across Ireland were told to stay home Friday, with schools closing as severe weather warnings come …
People Moves: Scully Appointed President of Automobile Insurers Bureau
The governing committee of the Automobile Insurers Bureau of Massachusetts (AIB) appointed William H. Scully as president. Scully served as interim president succeeding Kim A. Barber who retired in April 2024. Scully has been with the AIB since August 2000 …
China Guides Mutual Funds, Insurers to Invest More in Stocks
China is guiding local mutual funds and insurers to boost their stock purchases in the government’s latest initiative to shore up its ailing equity market as it confronts the threat of higher tariffs. Mutual funds should raise their holdings of …
Dutch Willing to Help Insurers Invest in Defense, Minister Says
Dutch insurance companies and other financial institutions that want to invest in the defense industry can expect guidance from the government, said Defense Minister Ruben Brekelmans. “What I’ve experienced so far with insurers like NN, but also with banks, is …