INSURANCE NEWS
Massachusetts Approves Liberty Mutual Reorganization Involving 3 Domestic Mutuals
Liberty Mutual has received approval to convert three domestic mutual insurance affiliates into stock companies and then merge them into a new wholly-owned subsidiary of Liberty Mutual Holding Company (LMHC). The Massachusetts Division of Insurance has approved the reorganizations of …
Recreational Weed and Other Citizen Initiatives Fail to Qualify for Ballot in Florida
A proposed amendment to Florida’s constitution that would allow recreational marijuana use for adults is one of 22 citizen initiatives that failed to qualify for the 2026 ballot, state officials said. The Florida Department of State announced Sunday that none …
The Hanover Reports 18% Growth in Q4 Net Income
Fourth-quarter 2025 net income at The Hanover Insurance Group was $198.5 million, up about 18% over $167.9 million recorded for the same period in 2024. The Worcester, Massachusetts-based insurer’s Q4 combined ratio remained relatively flat at 89.0 versus 89.2 the …
Move to Ban Social Media for Kids Gains Traction Across Europe
European countries are taking their broadest swipe yet at social media, with a growing number weighing bans of the services for minors and setting the stage for a new showdown with some of the biggest US companies. The policy was …
Congo Fighting Drove Spike in Insurance Costs, Squeezing Miners, Insurer Says
Political violence insurance premiums in Democratic Republic of Congo jumped as much as tenfold last year due to unrest in the east, boosting insurers but lifting costs for copper-cobalt miners, insurance executives told Reuters. Rwandan-backed AFC/M23 rebels overran eastern Congo’s …
China to Ban ‘Hidden’ Car Door Handles to Address Safety Fears
China will ban ‘hidden’ car door handles from 2027, becoming the first country to phase out a design pioneered by Tesla and adopted by Chinese competitors including Xiaomi. The hidden handle design, which functions through a key fob or mobile …
Beazley Agrees to Zurich’s Sweetened £8 Billion Takeover Bid
Zurich Insurance Group AG has made a sweetened £8 billion ($11 billion) bid to buy Beazley Plc, an offer that’s won the tentative approval of the UK insurer’s board. The Swiss insurance giant’s revised cash proposal of 1,310 pence a …
Elon Musk Loses Bid to Dismiss SEC Lawsuit Over Twitter Stake
A federal judge on Tuesday rejected Elon Musk’s bid to dismiss a U.S. Securities and Exchange Commission lawsuit that claimed he waited too long to disclose his purchases of Twitter shares in 2022. U.S. District Judge Sparkle Sooknanan in Washington, …
People Moves: Hub International Names Baldrica Chief Sales Officer, US Employee Benefits; Bernards Hired as Alternative Risk Practice Leader
Hub International Limited (HUB), headquartered in Chicago, Illinois, named Andrea Baldrica as chief sales officer of U.S. Employee Benefits. Baldrica will be responsible for driving HUB’s national employee benefits sales strategy and comprehensive growth across its employee benefits services. Baldrica …
APCIA Testifies in Support of the Fix Our Forests Act
The American Property Casualty Insurance Association testified on Capitol Hill Jan. 3 in support of the Fix Our Forests Act. The legislation, led by Reps. Bruce Westerman, R-Ariz., and Scott Peters, D-Calif., was passed by the House following the January …
New Association Wants Florida to Become a Major Domicile for Captives
It’s probably too late for 2026 legislative session, but by this time next year, a newly formed Florida group hopes it will be well on its way toward a new set of laws that will help Florida become a powerhouse …
Policy Expert Ochs Is NJ Gov. Sherrill’s Choice as Banking and Insurance Commissioner
New Jersey Governor Mikie Sherrill said she will be nominate Susan Ochs, a financial services and economic policy expert, as Commissioner of the Department of Banking and Insurance (DOBI). Ochs served as a senior advisor to the head of the …