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Gallagher completes $1.2 billion deal with Woodruff Sawyer
Gallagher stated that Woodruff Sawyer recorded estimated pro forma revenue of $268 million for the 12 months ending December 31, 2024. Its earnings before interest, taxes, depreciation, amortization, and coronavirus (EBITDAC), including anticipated synergies, were approximately $88 million. The transaction values the firm at around 4.5 times revenue and 13.6 times EBITDAC, aligning with recent…
Economic shifts reshape political risk landscape – Gallagher
Risks in emerging markets In the Democratic Republic of the Congo (DRC), ongoing insurgent violence continues to impact the country’s political, security, and economic outlook. The M23 insurgent group launched a major offensive in early 2025, capturing the provincial capitals of North Kivu and South Kivu, along with their airports. Source link
APCIA opposes no-fault repeal, citing risks to Florida drivers
APCIA represents home, auto, and business insurers nationwide and advocates for competitive private insurance markets. Its members include insurers of all sizes and structures, serving families, communities, and businesses across the US and globally. Source link
Universal Insurance hit with fine as it returns $30 million to fund
Florida Attorney General James Uthmeier said the review identified numerous unrelated claims that should not have been submitted for reimbursement. These allegedly included non-hurricane-related damages, which, under the fund’s guidelines, were ineligible for payment. The attorney general’s office stated that Universal’s reporting practices led to excess payments from the hurricane fund, the report said. Source…
What is electric bike insurance?
Electric bike insurance, or e-bike insurance, is an insurance policy to protect you and your e-bike in the event of an accident or a covered loss such as theft, vandalism, or damage to the bike itself. E-bikes can vary greatly depending on the type of motor your e-bike has and how fast it can go,…
State Farm rate hike – California regulator did not calculate impact of proposed move
Last year, State Farm filed for property/casualty rate increases of 30% to 55%, citing concerns about maintaining solvency. The proposed hikes include a 30% increase for non-tenant homeowners, 55% for condominium coverage, 41.6% for tenant policies, 53.6% for personal liability umbrellas, 38% for rental property damage, and 55% for business owner policies, according to the…