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Ardonagh Group launches new division
The launch comes as Ardonagh reported strong financial results for 2024. The company reported adjusted EBITDA of $683.4 million, up 31.2% from a year ago, while reported income rose 24% to $1.98 billion. The company also increased its workforce by nearly 1,700 employees and launched its first graduate scheme. Source link

NAIC says new RBC task force to convene at spring meeting
The ACLI has supported a transparent, data-driven approach to RBC processes, Haughawout said, adding that the task force is well-positioned to advance this effort. She also noted that the task force’s first organization call had more than 300 participants, reflecting significant interest in its work. Source link

Insurance crisis threatens Illinois foster care system, prompting legislative action
A search for solutions With the legislation in limbo, lawmakers have turned to a task force model, aiming to bring all stakeholders to the table – including the Department of Insurance, DCFS, insurers, legal advocates, and child welfare organizations. The group is expected to begin meeting within 30 days of all appointments and must submit…

Judge denies Crum & Forster’s US Fire Insurance Company’s $13.5M collateral demand in bond case
Following those filings, both BOEM and UNOCAL issued claims under the bonds, prompting US Fire to demand collateral from the indemnitors, as permitted under Paragraph 3 of the indemnity agreement. That provision allows the insurer to demand irrevocable letters of credit or other forms of security, at its sole discretion, upon receipt of claims—even before…