Marsh also accuses Aon, McDonough, and other former employees of using confidential information to solicit clients. The complaint notes that the day after the mass resignation, a long-standing Marsh client informed the company it would move its business to Aon, naming McDonough as its primary contact. Additional clients have reportedly followed. Source link
Business insurance also recorded a combined ratio of 94.4 and an underlying combined ratio of 88.4, matching results from the prior-year period. In the personal insurance segment, the combined ratio was 106.1, while the underlying combined ratio improved by 6.4 points year-over-year to 89.7. Source link
The IBERIA region posted a net result of €121 million, up 65.6% year-on-year, with a combined ratio of 95.6%. The company cited performance in the auto segment as a major factor in this regional outcome. In North America, MAPFRE reported a profit of €30 million, up 94.3%, continuing the region’s recent trend of improved financial…
Return to shareholders scheduled following strong fiscal year performance Source link
A new court, a new ruling Undeterred, SafeLease moved the case to the newly formed Texas Business Court, which was established to hear complex commercial cases. There, it found a more sympathetic forum. On January 21, 2025, the court issued a temporary injunction ordering Storable to restore SafeLease’s access – at least for clients active…
The legislation seeks to respond to growing concerns over the affordability and availability of insurance for natural disasters, such as wildfires and floods. According to the bill, fire insurance is becoming more costly and difficult to obtain in California, while flood coverage remains uncommon and insurance for extreme-heat events is rare. Source link
She also argues that with such risk, there must be a collaborative approach: “Today’s interconnected risk landscape, the rapid escalation of emerging threats, and their potential for global impact demand a more proactive, integrated approach. This calls for cross-functional collaboration, with risk managers leading efforts to break down organisational silos and adopt a holistic, enterprise-wide…
The sale of the TRANZACT business impacted revenue Source link
Leadership reset finalised after investor-backed majority list wins vote Source link
Shift reflects broader economic influences, the report says Source link
“As the US E&S market continues to grow, we are advancing our wholesale strategy by investing in talent, enhancing our service offerings, and focusing on key industries,” said Stephen Buonpane, president of Everest Evolution. “With this strengthened leadership team, we are well-positioned to expand our market presence and provide our US wholesale partners with tailored…
State Farm, caught in the middle of conflicting demands, opted to file a federal interpleader action – a move that allows insurers to deposit funds with the court and step aside while potential beneficiaries litigate who is entitled to the money. Robbins, in turn, sued State Farm in state court, alleging breach of contract, violations…
“Despite these large trade and market disruptions, we believe that the impact on most well-diversified insurance companies is manageable,” said Nadja Dreff, senior vice president, sector lead Global Insurance & Pension Ratings, Morningstar DBRS. “We expect insurers will take mitigating actions in the form of premium increases, adjustments to supply chains, tighter control of expenses,…
Watko Benefit Group, founded in 2003 by Principal Greg Watkins, provides a range of employee benefits services to businesses with employee counts from 10 to over 3,000. The firm’s offerings include group insurance, voluntary benefits, and executive benefits. The six-person Watko team brings more than 50 years of combined experience in areas such as healthcare…
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….
[3] Meyer Shields interview, April 2, 2025. (Shields interview) [4] Arthur J. Gallagher & Co., “Arthur J. Gallagher & Co. Acquires Imbs Holdings Inc.,” last modified April 10, 2025, https://investor.ajg.com/news/news-details/2025/Arthur-J–Gallagher–Co–Acquires-Imbs-Holdings-Inc-/default.aspx.:contentReference[oaicite:1]{index=1} [5] SeekingAlpha, “Arthur J. Gallagher & Co. (AJG) Q4 2024 Earnings Call Transcript,” accessed April 10, 2025, https://seekingalpha.com/article/4753684-arthur-j-gallagher-and-co-ajg-q4-2024-earnings-call-transcript. (Q4 2024 Earnings Call Transcript) [9]…
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….
Writing for the court, Judge Ronald Lee Gilman found that even if Wehr wasn’t sued directly, the allegations in the St. Claire case centered on its conduct, and any resulting liability could still flow back to it. That was enough, the court held, to trigger Phoenix’s duty to defend. Kentucky law, the opinion noted, requires…
A long-running workers’ comp case tests how far insurers can go in compelling medical exams Source link
What’s going on in the property market? What was once a fiercely hard market marked by tight capacity, high rates, and restrictive terms has, over the last year and a half, softened in dramatic fashion. That change didn’t come overnight, according to Michelle Yuko (pictured on the right), EVP at Amwins Insurance Brokerage. Source link
The real cost for drivers in Colorado’s auto insurance market includes legal system abuses, catastrophic hail damage, impaired driving, and high repair costs, she said. “Colorado ranks 42nd for wildlife crashes, and adding a fee to address that won’t move the needle on what consumers actually pay,” Walker said. Source link
From senior note issuance to improving personal lines—Selective’s Q1 strategy pays off Source link
The proposed law would apply to intrastate freight carriers hauling loads over 26,000 pounds, including common and contract carriers regulated by the Nevada Transportation Authority and the Department of Motor Vehicles. Opponents, including the Nevada Trucking Association and the American Property Casualty Insurance Association (APCIA), argue the bill could lead to higher premiums, reduced competition,…
Jeffrey Jarboe, who previously led the healthcare practice, expressed confidence in the transition, describing Fox as a natural choice for the role. “Dennis is a great fit to lead our healthcare practice. His deep expertise, extensive experience, and thoughtful approach align well with the next phase of growth for the group and our clients’ evolving…
According to the report, by 2050, the global dependency ratio, or the number of seniors per 100 working-age adults, is expected to increase from 16% in 2024 to 26%. This demographic shift will influence consumer behavior, particularly in terms of spending patterns. Source link
“Driven by increased insurer competition and favorable reinsurance pricing, global commercial insurance trends continued to improve for our clients in the first quarter,” said John Donnelly, president of global placement at Marsh. “We expect the overall trend to continue, and for insurer competition to intensify, barring unforeseen changes in conditions.” Source link
A state medical employer argued its injured nurse could still work – but the court didn’t buy it. Here’s what it means for workers’ comp carriers and claims teams Source link
The case began when Weston and Carrie Twigg hired Rainier Pacific Development LLC in 2011 to build a home on a sloped property in Oregon. After moving in, the Twiggs identified multiple construction defects, including a garage floor that cracked and sloped inward, directing water toward the house. A settlement followed. Under a “Repair Agreement,”…
Speaking on a first-quarter earnings call, Greenberg said the federal government should align its trade, economic, and fiscal priorities. He expressed hope that future trade agreements would ease or remove tariffs, which he said have affected the country’s international standing and increased the risk of an economic downturn. Source link
The consolidation will also integrate the Securities Department, which employs ten full-time staff members, into the Insurance Department. North Dakota joins at least 16 other states that have combined oversight of insurance and securities under a single agency. This move follows similar efforts in other states, including South Dakota, which merged its regulatory departments in…
