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 results.
In response to these results, the group raised its full-year adjusted net income forecast to ¥1.04 trillion, an increase of ¥40 billion from the earlier guidance. The firm projects this momentum will continue into fiscal 2025, with an adjusted net income forecast of ¥1.10 trillion, representing a 3% rise year-on-year. The adjusted return on equity…
Effective July 2024, Kansas also increased workers’ compensation benefits for injured or deceased workers. The total death benefit rose from $300,000 to $500,000, and the cap for permanent total disability increased from $155,000 to $400,000. This legislation, the first update since 2011, aims to create a more equitable system. Source link
Kashif Syed, HGIC’s chief information and transformation officer, said that the cloud-based system allows the company to focus internal resources on functions that provide value to employees, brokers, and policyholders while Guidewire handles system maintenance and updates. Source link
Pine Walk, founded in 2017, now supports 12 MGAs and provides underwriting, operational and regulatory frameworks for specialist insurance businesses. In 2024, the platform’s gross written premium grew 11% to $900 million, with expectations to exceed $1 billion this year. Source link
This is according to Insurance Business’ recently released insights Data Hub, where the definition of “liability insurance” covers surety, credit, fidelity, and financial guarantee, protection against theft, regular and excess workers’ compensation, medical malpractice, medical professional liability (both claims-made and occurrence-based), product liability (both claims-made and occurrence-based), and other forms of liability insurance structured similarly….
