INSURANCE NEWS
King Risk Acquires Talbert Insurance Services Agency in North Georgia
King Risk Partners, one of the largest U.S. insurance brokers, has acquired Talbert Insurance Services in Duluth, Georgia, expanding King’s presence in the Southeast. Talbert, in business in north Georgia since 1982, offers personal and commercial insurance. Larry Talbert II …
Brown & Brown Acquires UK Employee Benefits Specialist Drewberry
Employee benefits specialists Drewberry has been acquired by Brown & Brown (Europe) Ltd. The terms of the deal are undisclosed. Founded in 2009 by Andrew Jenkinson and Tom Conner, Brighton and London-based Drewberry offers employee benefits solutions, workplace pension support, …
Swiss Re Among Firms in $3 Billion Credit-Risk Deal for International Finance Corp.
Swiss Re AG, Tokio Marine Holdings Inc., AXIS Capital Holdings Ltd. and AXA SA are among providers of $3 billion in credit-risk insurance for the private-sector arm of the World Bank Group, as it seeks to expand its lending in …
G20 Watchdog Urges Governments to Address Non-Bank Financial Risks
The Financial Stability Board (FSB) on Wednesday pitched recommendations for governments to reduce risks around hedge funds, insurers and other non-bank financial intermediaries, which now account for almost half of global financial assets. The sector of non-bank financial intermediation has …
UK Targets Russian Oil Trading ‘Lynchpins’ With Sanctions
The UK announced fresh sanctions targeting alleged “lynchpins” that enable the trade of Russian oil, along with 20 “shadow fleet” vessels. The financial curbs on oil trading firms, 2Rivers DMCC and 2Rivers Pte Ltd. will clamp down on Russia’s oil …
Third Tanker Sends Distress Call as Oil Washes Up on Russia’s Black Sea Coast
Spilled oil has washed up along “tens of kilometers” of the Russian Black Sea coast after two tankers were badly damaged in a storm at the weekend, a regional official said on Tuesday, and state media said a third ship …
EU Privacy Regulator Fines Meta €251 Million for 2018 Breach
The lead European Union data privacy regulator for Meta fined the social media giant 251 million euros ($263.5 million) on Tuesday for a 2018 Facebook security breach that affected 29 million users. Meta notified Ireland’s Data Protection Commission at the …
Illinois Man Arrested for Defrauding Victims in Roofing Scheme
An Illinois man accused of defrauding individuals by claiming to be an insurance adjuster doing roof repair after a recent hailstorm was arrested in Florida on Dec. 13. Scott A. Lennington of Morton, Ill. was taken into custody by the …
Texas Economy Will Top France’s Thanks to Trump, Abbott Says
Texas Governor Greg Abbott has a new ambition for the Lone Star State: surpassing France as one of the world’s largest economies. Abbott predicted that economic output in Texas would soon exceed that of the struggling European nation thanks to …
Texas Reports 252 New Cases of Groundwater Contamination
Texas agencies reported 252 new cases of groundwater contamination during 2023 in the Texas Groundwater Protection Committee annual report. The latest report compiles 2,870 open cases of groundwater contamination, some of which date back decades. Nearly every county in Texas …
Ardonagh Reaches $14 Billion Valuation With Stone Point Investment
Ardonagh Group has secured new investment from Stone Point Capital, almost doubling the valuation of the UK insurance broker to $14 billion in three years, according to people familiar with the matter. The deal will see Greenwich, Connecticut-based Stone Point …
Jury Awards $80M to Family of Chicago Girl Killed During Police Chase
CHICAGO (AP) — A jury awarded nearly $80 million to the family of a 10-year-old Chicago girl who was killed during a police chase and crash in 2020. The city had acknowledged liability in the death of Da’Karia Spicer. The …