INSURANCE NEWS
ConnectUW Holdings Opens for Business at Lloyd’s
ConnectUW Holdings, the parent company of Connect Underwriting and other specialist reinsurance MGAs, announced it will take ownership of Lloyd’s box number 356 from Dec. 23, 2024. Situated in the company market section on Gallery 3, ConnectUW will initially offer …
DAC Beachcroft Expanding Into US With 2 New Offices
Law firm DAC Beachcroft said it is expanding into the U.S. with offices in New York and Los Angeles. Insurance specialists Lawrence Klein and Gilbert Lee will join UK-based DACB as partners from law firm Robinson+Cole. They provide advice to …
AXIS to Transfer $2.3B of Reinsurance Reserves to Enstar in Boost to Specialty Focus
AXIS Capital Holdings Ltd. and Enstar Group Ltd. announced they have entered into a loss portfolio transfer (LPT) reinsurance agreement, which will retrocede $2.3 billion of AXIS’s reinsurance reserves. Structured as a 75% ground-up quota share, the LPT reinsurance agreement …
People Moves: Arch Insurance Taps Symenouh From Tokio Marine as Senior Cyber Underwriter; Chubb Promotes Latter to Lead Claims for Overseas General Insurance
This edition of International People Moves details appointments at Arch Insurance and Chubb Overseas General. A summary of these new hires follows here. Arch Insurance Taps Symenouh From Tokio Marine as Senior Cyber Underwriter Arch Insurance has appointed Ezechiel Symenouh …
People Moves: Spot Insurance Names Hamann as CEO
Spot Insurance, headquartered in Austin, Texas, appointed Joel Hamann as CEO. Hamann joined Spot in 2021 and most recently served as vice president of finance. He previously served as director of finance, technology and several other roles at Kohl’s Corporation. …
TWIA Anticipates Higher Reinsurance Spending in 2025
The Texas Windstorm Insurance Association expects to spend more on reinsurance in 2025 to account for projected policy count and exposure growth and losses to the association’s catastrophe reserve trust fund (CRTF) arising from Hurricane Beryl. TWIA’s board of directors …
England Warns Nearly a Million More Properties Face Flood Risks
Almost a million more properties in England are at risk of flooding than previously thought, raising concerns about a growing number of uninsurable or unsellable properties over the coming decades. Data from the Environment Agency on Tuesday showed 6.3 million …
Missouri Insurance Director Lindley-Myers to Retire at End of Year
Missouri Department of Commerce and Insurance (DCI) Director will retire at the end of the year, Missouri Governor Mike Parson announced. Lindley-Myers was appointed Director of the Missouri Department of Insurance, Financial Institutions, and Professional Registration on March 6, 2017, …
Baltic Sea Countries to Start Checking Insurance Status of Tankers Moving Russian Oil
Twelve European countries are set to clamp down on tankers that move millions of barrels of Russian petroleum around the world — by asking to see how they’re protected against oil spills and other high-cost claims. Nations including Denmark, Estonia, …
People Moves: JM Wilson Promotes and Hires for Underwriting Positions
JM Wilson, headquartered in Portage, Michigan, promoted several team members and made new hires to its underwriting team. Priya Albert was promoted to property and casualty underwriter. Albert works with carrier underwriters and independent insurance agents in Georgia, North Carolina, …
Louisiana Home Care Companies to Pay $355K in Back Wages
More than 100 people working as home care companions will receive their share of nearly $355,000 in back wages and damages after investigations by the U.S. Department of Labor’s Wage and Hour Division of two southern Louisiana home care providers …
Severe Weather Brings Snow, Ice to Midwest and a Tornado in California
OMAHA, Neb. (AP) — A tornado near a mall in central California swept up cars, uprooted trees and sent several people to the hospital. In San Francisco, authorities issued the first-ever tornado warning. Elsewhere, inclement weather plagued areas of the …