Prior to the sale of Westminster on June 30, 2024, the Company had six reportable segments as described below. The Commercial segment consisted primarily of Westminster's balances and results. As a result of the sale, Westminter's results have been removed from the Commercial segment for all 2024 amounts and any remaining commercial business not associated…
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Citizens Property Insurance policy holders in South Florida could see their annual premiums rise by an average of $700 or more next year if regulators approve in the next few weeks the new rates requested by the state-run company deemed as the state's insurer of last resort. Under the Citizens' proposal, rates for its HO-3 home insurance policy in Miami-Dade…
The current and prior period comparative results for Sagen MI Canada Inc., reflect the consolidation of the Company and its subsidiaries, including Sagen Mortgage Insurance Company Canada. The Insurance Subsidiary is engaged in the provision of mortgage insurance in Canada and is regulated by the Office of the Superintendent of Financial Institutions as…
Longtime Arch executives David Gansberg and Maamoun Rajeh named Presidents of Arch Capital Group Ltd.. PEMBROKE, Bermuda—- Arch Capital Group Ltd. today announced that its Board of Directors has declared a special cash dividend of $1.9 billion to common shareholders, representing $5.00 per outstanding common share. David Gansberg has been promoted to…
ProAssurance Corporation, an industry-leading specialty insurer with extensive expertise in medical professional liability and a core small-cap value equity in the financials sector, today reported net income of $16.4 million, or $0.32 per diluted share, and operating income of $17.3 million, or $0.34 per diluted share, for the three months ended…
Porch Group, Inc., a homeowners insurance and vertical software platform, today reported third quarter results through September 30, 2024, with total revenue of $111.2 million. GAAP net income was $14.4 million, an improvement of $20.1 million compared to the prior year, and Adjusted EBITDA was $16.9 million, an improvement of $8.1 million compared to the prior…
MAYFIELD VILLAGE, Ohio, Nov. 7, 2024- Progressive Home today announced its decision to discontinue offering the Dwelling Fire line of business. Progressive Home will stop selling new business DP-3 policies and begin sending nonrenewal notices to affected policyholders in certain states as early as November 19, 2024, in accordance with state regulatory…
Sean M. Dalton, CPCU, AMIM, Executive Vice President, Munich Reinsurance America Inc., was elected chair of the American Institute of Marine Underwriters at its annual meeting on Nov. 6. Sean M. Dalton, CPCU, AMIM, Executive Vice President, Munich Reinsurance America Inc., was elected chair of the American Institute of Marine Underwriters. We are extremely pleased…
Majesco, a global leader in cloud insurance software solutions for insurance business transformation, is proud to announce its recognition as a Leader in the Gartner ® Magic Quadrant™ for SaaS P&C Insurance Core Platforms, North America. To us, this acknowledgment highlights Majesco’s commitment to pioneering technology advancements, including its…
FRANKENMUTH, Mich., Nov. 7, 2024/ PRNewswire-PRWeb/– Frankenmuth Surety is pleased to announce two leadership promotions. Keith MacLean has been promoted to Vice President, Commercial Surety Field Operations, and Ford Rogers has been promoted to Vice President, Contract Surety Field Operations. With more than 19 years of Surety experience, Keith MacLean joined…
Frankenmuth Insurance is pleased to announce the promotion of Erik Steenken to Vice President of Surety. FRANKENMUTH, Mich., Nov. 7, 2024/ PRNewswire-PRWeb/– Frankenmuth Insurance is pleased to announce the promotion of Erik Steenken to Vice President of Surety. His background also includes roles as a Contract Surety Territory Manager for Great American…
Home Company Media Relations Media Information and Corporate News Media Information 2024 Quarterly statement 3/ 2024 Quarterly statement: Munich Re generates Q3 result of €0.9 bn and is set to exceed annual target 11/07/2024. Net result increases to €4.7 bn in Q1-3 despite major losses attributable to natural catastrophes in Q3 Reinsurance:…
Media Release Munich 7 November 2024 Quarterly statement: Munich Re generates Q3 result of €0.9 bn and is set to exceed annual target• Net result increases to €4.7 bn in Q1-3 despite major losses attributable to natural catastrophes in Q3• Reinsurance: Above-average major losses in property-casualty business in Q3; life and health business once again…
holding company for two P&C carriers: American Coastal Insurance Company and Interboro Insurance Company ¹ along with other operating affiliates. Q3-24 Results Non-GAAP Core Income of $26.9 m increased $11.4 m from $15.5 m y/y on lower ceded earned premiums resulting from the step down of the 40% gross CAT quota share effective 6.1. 2023 to 20% effective 6.1….
Insurance Business America has named Taylor Forst and Shadi Jalali from Alliant Insurance Services as Rising Stars for 2024. Taylor Forst is a Vice President within Alliant Real Estate and Hospitality, where she focuses on liability insurance placements for habitational real estate clients. Alliant Insurance Services is one of the nation’ s leading…
Schneider National, Inc., a leading transportation and logistics services company, today announced results for the three months ended September 30, 2024. “From an enterprise standpoint, lower year over year gains on equipment sales and equity investments represented in aggregate a $0.04 EPS headwind. Additionally, auto liability insurance costs increased…
The letters to the governments of Tennessee, North and South Carolina, Georgia and Florida come as the onslaught of the two hurricanes this fall exposed gaping holes in the nation's flood insurance coverage. So far, insurers in the state of Florida alone have already denied 37,000 claims in the aftermath of Milton and Helene— or 10 percent of the total number that…
With some studies finding that home insurance rates have ballooned 44% in Montana over the past five years, the affordability and availability of insurance have become cornerstone issues in the state auditor election. Brown, a graduate of Beaverhead County High School who maintains a law practice in Helena, highlights his rural Montana roots, small business…
Consolidated net income attributed to common shareholders divided by the average common shareholders' equity for the period. The solvency ratio is calculated in accordance with the Capital Adequacy Requirements Guideline- Life and Health Insurance mandated by the Autorité des marchés financiers du Québec. Refer to the "Non-IFRS and Additional…
Blend and Covered Insurance Announce New Strategic Partnership to Streamline Home Insurance Shopping
Blend, the leading origination platform for digital banking solutions, and Covered Insurance Solutions, a premier provider of embedded insurance solutions, have announced a new strategic partnership to further streamline the home insurance shopping experience. “This partnership is a major step forward in providing borrowers with more options and…
