“I went to our CEO, Dave (Obenauer), and said, we’re on this new journey, and coming out on the other side, I think we need to come out as a new company,” Marshall told Insurance Business. “We are going to be on a new path for supercharged growth, and a whole world of opportunity opens to us as a pure-play wholesaler.”
Total assets at the end of 2024 stood at $48.16 billion, up from $46.74 billion a year earlier. Surplus rose to $4.3 billion from $3.3 billion. Penn Mutual reported paying $245.8 million in policyholder dividends in 2024, up from $188.7 million in 2023. For 2025, the company approved a $265 million dividend, which it said…
Following the hurricane, Hamilton paid $81,521.13 to Shellpoint, which accepted the sum without objection. Ahmed, contending the payment was insufficient, sued the insurer directly, alleging breach of contract and seeking recovery as a third-party beneficiary. The breach of contract claim was dismissed early and not appealed. The remaining claim was dismissed with prejudice by the…
In this roundtable special of Insurance Business TV, join Tokio Marine HCC Cyber and Professional Lines Group’s Dan Crane and Eugene Eychis as they examine the impact of AI on cyber insurance. They look at the ways in which AI is currently enhancing risk assessment, strategies to mitigate its risks and the emerging technologies they…
