Insurance moves at Liberty Mutual, Ascot Group, Acrisure, Cozen O’Connor and LP Insurance

The lawsuit brought to light a series of embarrassing exchanges between executives at Marsh where they discussed the escalating financial crisis engulfing Greensill and its main insurer, Australia’s Bond & Credit Co, in the run-up to Greensill’s collapse.    In an email exchange from 2020 that was shared with the court, a Marsh executive described the situation…

Firms brace for rise in litigation risks Source link

The sale of the TRANZACT business impacted revenue Source link

In 2024, USAA returned $2.2 billion to members through distributions, dividends, and banking rebates and rewards. The company also paid $4.3 billion in catastrophe-related claims. It also reported process improvements, including a reduction in average catastrophe claims processing time from 14 days to seven days, using advanced technology. Source link

Comparatively, Bowhead reported that its Q4 2024 gross written premiums rose 26.3% to $184.8 million, driven by renewals, new business, and platform expansion across all divisions.  Return on equity stood at 14.8%, while the company’s book value per share stood at $11.34. Source link

For insurers, the bill mandates the development of a comprehensive written information security program tailored to the size, complexity, and risk profile of the organization. Each licensee must conduct periodic risk assessments, designate responsible personnel, and implement administrative, technical, and physical safeguards to protect non-public information. Insurers domiciled in Oklahoma are required to submit an…