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The Los Angeles fires are likely to mark a turning point in how homes are built and insured in the United States. Though it's easy to point to specific failures in Los Angeles- the California insurance market is a mess, there was insufficient water to fight the fires, and many homes weren't built or retrofitted to withstand the blaze- the reality is that large…

Prudential Financial, Inc. announced today an agreement to reinsure a portion of its recently originated Japanese whole life policies with a subsidiary of Prismic Life, a Bermuda- based life and annuity reinsurance company sponsored by Prudential and Warburg Pincus and supported by a group of global investors. Under the terms of the agreement, Prismic will…

Everest Group, Ltd., a global underwriting leader providing best-in-class property, casualty and specialty insurance and reinsurance solutions, today announced that its Board of Directors has appointed Jim Williamson as President and Chief Executive Officer, effective immediately. Prior to that, he served as the Company’ s EVP and Group COO, and Head of the…

Excellent fourth quarter net income of $2.082 billion and core income of $2.126 billion. Consolidated combined ratio improved 2.6 points from the prior year quarter to an excellent 83.2%. Underlying underwriting income of $1.700 billion pre-tax, reflecting an underlying combined ratio that improved 1.9 points to an excellent 84.0%; very strong…

The Travelers Companies, Inc. today reported net income of $2.082 billion, or $8.96 per diluted share, for the quarter ended December 31, 2024, compared to $1.626 billion, or $6.99 per diluted share, in the prior year quarter. Core income in the current quarter was $2.126 billion, or $9.15 per diluted share, compared to $1.633 billion, or $7.01 per diluted share, in the…

2025 JAN 21– By a News Reporter-Staff News Editor at Insurance Daily News– Data detailed on Insurance have been presented. For more information on this research see: Optimal Investment and Reinsurance Strategies With Federal Income Tax Under the Geometric Mean Reversion Model. Journal of Industrial and Management Optimization, 2024. Journal of Industrial…

AM Best will co-sponsor, participate and be recognized at the 7th annual Emerging Leaders Conference, which acknowledges high-performing individuals and provides professional training to develop the next generation of insurance industry leaders. The event, which will take place Feb. 2-4, 2025, in Tampa, FL, is hosted jointly with the American Property…

"It makes me feel like we're lying to people," Conway said at an Oct. 15 town hall for homeowners in Pueblo. Several billion-dollar disasters affecting Colorado properties have led to a spectacular rise in homeowner insurance premiums in the past few years, while insurers cite larger losses because they're paying out more in claims than they're taking in from…

Karen Murray Boston had been looking forward to December for months so she could start shopping around for new homeowners insurance for her 1918 farmhouse in Fruita. Her insurer, American National Group, is dropping her this month and abandoning Colorado altogether. The cost of property insurance in Colorado has become one of the fastest-growing household…

Insurance leaders say that inflation has fueled the rising costs of coverage paid by Florida policyholders in recent years. But an analysis by the South Florida Sun Sentinel shows that insurance premiums have increased significantly more than the rate of inflation, and experts cite a range of possible reasons why, including steep increases in reinsurance…

CombinedMerger425TURNFiling Filed by 180 Degree Capital Corp. pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14 a-12 under the Securities Exchange Act of 1934 Filer: 180 Degree Capital Corp. Subject Company: 180 Degree Capital Corp. SEC File No.: 811-07074 Date: January 17, 2025 On January 17, 2025, 180 Degree Capital…

Since 2022, seven of the 12 largest insurance companies have stopped issuing new policies to homeowners in California, citing increased risks due to climate change. California isn't alone: The same thing has happened in other vulnerable states, including Louisiana and Florida. Meanwhile, those fortunate enough to have insurance are paying more than ever:…

Jan. 16— In the months before thousands of Los Angeles homes went up in flames, property insurance companies dropped coverage in many neighborhoods of the city, citing the growing wildfire risks caused by climate change. As a result, a fast-growing number of California residents have switched to a state-backed "last resort" insurance plan. We're all going to be…

Since 2022, seven of the 12 largest insurance companies have stopped issuing new policies to homeowners in California, citing increased risks due to climate change. California isn't alone: The same thing has happened in other vulnerable states, including Louisiana and Florida. Meanwhile, those fortunate enough to have insurance are paying more than ever:…