Underwriting expansion marks strong start to year for Lancashire

Shareholders met in Trieste on Thursday to elect a new board for a three-year term. The vote follows ongoing tensions between management and key investors. On one side is Mediobanca SpA, Generali’s largest shareholder, while on the other are the families of the late Leonardo Del Vecchio and Caltagirone, the second- and third-largest shareholders, respectively….

Loreto-Hays v. Herrera (2018), alleging sexual assault by Herrera while the plaintiff worked in a GAC store. Oberloh v. Giorgio Armani Corp. (2018), which included allegations that GAC ignored reports of Herrera sexually harassing multiple employees. Christin v. Herrera (2019), which involved five plaintiffs alleging a pattern of sexual harassment and assault by Herrera spanning…

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…

For the year ending December 31, 2024, Beazley achieved a record profit before tax of $1.423 billion, marking a 13% increase from the $1.254 billion recorded in 2023. This growth was underpinned by a 10% rise in insurance written premiums, totaling $6.164 billion, up from $5.601 billion in the previous year. Source link

The financing will be issued through surplus debentures, with $95 million provided by an affiliate of Gallatin Point Capital LLC and the remaining $15 million funded by Baldwin affiliates. The transaction is expected to close in the second quarter of 2025, subject to regulatory approvals and customary closing conditions. Source link

Forget the 80s hard market or the 2008 crash. Today’s insurance landscape is rewriting the rules and not in contractors’ favor Source link