"The challenges we face with condo insurance– rising costs, accessibility and coverage– are complex, with no clear solutions yet," says Trevor Benn, president of both the Honolulu Board of Realtors and real estate firm Forward Realty, via an email interview. In fact, global reinsurance losses have exceeded $100 billion annually for several consecutive years,…
Reinsurance
AM Best has upgraded the Financial Strength Rating to B+ from B and the Long-Term Issuer Credit Rating to“ bbb-” from“ bb+” of JSC Insurance Company Aldagi Group. The outlook of these Credit Ratings has been revised to stable from positive. Offsetting factors include the company’ s onerous dividend policy, which limits its internal capital generation, as well as Aldagi’…
ImageCat today announced a new partnership with Green Shield Risk Solutions, a leader in wildfire risk analytics and mitigation intelligence, to integrate Green Shield’ s proprietary Property Guardian data into ImageCat’ s Inhance ® and FACFinder™ platforms. “By embedding Property Guardian data into ImageCat’ s platforms, risk managers can transition from…
FOCUS St. Louis has announced that Edward Bryant, Heartland Coca-Cola vice president, public affairs and communications will serve as board president during the 2025-26 fiscal year. His fellow board officers are, Executive Vice Chair– Matthew Blakely, Vice President, Corporate Social Responsibility& Sustainability, RGA Reinsurance; Vice Chair– Missy Kelley,…
The Nassau Companies of New York announced today the upsize and pricing of its previously announced private offering of its 7.875% senior notes due 2030. The Nassau Companies of New York intends to use the net proceeds from the Offering for general corporate purposes and to repay in full all outstanding amounts under the existing term loan credit facility.
AM Best is maintaining its stable outlook on the global cyber insurance segment, as demand for coverage remains strong and is anticipated to persist. The Best’ s Market Segment Report,“ Market Segment Outlook: Global Cyber Insurance,” states that although cyber insurance market conditions have softened since 2023, a major opportunity for market expansion…
Tallahassee— As Florida lawmakers in 2022 tried to bolster the troubled property-insurance system, they drew attention for setting aside $3 billion in state money to help insurers with critical backup coverage. Ron DeSantis signed a bill that pulled back $2.1 billion of that money, which was expected to go unused. The bill, which was unanimously passed by the…
TALLAHASSEE— As Florida lawmakers in 2022 tried to bolster the troubled property-insurance system, they drew attention for setting aside $3 billion in state money to help insurers with critical backup coverage. Ron DeSantis signed a bill that pulled back $2.1 billion of that money, which was expected to go unused. The bill, which was unanimously passed by the…
The Nassau Companies of New York announced today that it has commenced a private offering of $400 million aggregate principal amount of its senior notes due 2030, subject to market and other conditions. The Nassau Companies of New York intends to use the net proceeds from the offering for general corporate purposes and to repay in full all outstanding amounts…
At Monday night's special Haddon Township commissioners meeting to appoint a health insurance vendor, the Southern Jersey Health Insurance Fund recommended by representatives of the municipality's appointed brokerage firm Conner Strong& Buckelew was approved by votes from mayor Randall Teague and commissioner James Mulroy, with commissioner Ryan…
Stephen Bath and Adam Prunty join Euclid Mortgage, a recognized leader in mortgage reinsurance. ITASCA, Ill., July 2, 2025/ PRNewswire-PRWeb/– Euclid Mortgage, today announced that Stephen Bath has joined the company as Chief Underwriting Officer along with Adam Prunty, who joins as Head of Technical Underwriting. Joe Monaghan, CEO, Euclid Mortgage.
Arch Insurance North America today announced the appointment of Jeff Kaufmann as EVP, Head of Marine effective Monday, July 7. In this newly created role, Kaufmann will be responsible for establishing Arch’ s U.S. Marine product offerings, building a strong, specialized underwriting team and growing the related book of business. “We are very excited to welcome…
The Insurance Information Institute, an affiliate of The Institutes, announced today Patrick Schmid has been appointed chief insurance officer at Triple-I, effective July 11, 2025. In addition, Schmid will lead the organization’ s Catastrophe Resiliency Council and the Insurance Research Council, reporting to Triple-I CEO Sean Kevelighan.
They arrived early, packed the room near West Palm Beach and expected to be wowed. And the hundreds of Republicans weren "t disappointed. Speaking for about 50 minutes Monday night at Club 47, a large South Florida- based pro-Trump organization, Donalds paid extensive tribute to Trump, offered some praise for DeSantis, provided outlines of some policy initiatives…
MetLife, Inc., General Atlantic, and Chariot Reinsurance, Ltd., an independent Bermuda- based Class E life and annuity reinsurance company, today announced the completion of Chariot Re’ s initial reinsurance transaction with a subsidiary of MetLife. MetLife Investment Management and General Atlantic serve as Chariot Re’ s exclusive external asset managers,…
DÜSSELDORF, Germany—- ERGO Group AG today announced the successful completion of the full acquisition of NEXT Insurance by Munich Re Group. Consequently, NEXT Insurance is now embedded within the management structure of ERGO, the major primary insurance business of Munich Re. NEXT Insurance will complement ERGO’ s business capabilities through its…
KBRA releases research examining the implications of the 2025 Atlantic hurricane season and the evolving reinsurance market for the U.S. property and casualty insurance sector. This outlook, driven by exceptionally warm Atlantic waters and conducive atmospheric conditions, raises the probability of significant insured losses, especially if storms…
AM Best has assigned a Performance Assessment of PA-2 to Dynamic Reinsurance LLC. The outlook assigned to the Performance Assessment is stable. Dynamic Re operates as an underwriting agency providing comprehensive reinsurance solutions across multiple lines of business, including property, casualty, financial lines, marine cargo and engineering risks,…
The office on Friday identified the two new companies in a news release as Incline National Insurance Company, headquartered in Texas, and Florida Insurance and Reinsurance Company, a Florida- domiciled company that Insurance Commissioner Mike Yaworsky said will primarily offer coverage for condominiums and condo associations. The others are Apex Star…
