Day: August 8, 2025

Chubb hires former Farmers exec as North America property claims head

Chubb on Friday appointed former Farmers Insurance Group executive Kim Hare senior vice president, head of North America property claims, effective Aug. 18.

Higginbotham buys Cincinnati-based agency

Higginbotham said Thursday it has acquired Roehr Insurance.

Munich Re trims 2025 insurance revenue forecast, cites currency developments

German reinsurer Munich Re on Friday trimmed its 2025 outlook for insurance revenue citing business and foreign exchange rate developments, as well as reporting a dip in its July renewals, but the company stuck to its full-year profit target.

NOAA still expects above-average hurricane season

Forecasters with the National Oceanic and Atmospheric Administration on Thursday said up to five major hurricanes may form in what is still expected to be an above-normal Atlantic hurricane season.

CureVac, GSK settle mRNA patent dispute with Pfizer, BioNTech

Germany’s CureVac and Britain’s GSK have settled a years-long patent dispute with Pfizer and its partner BioNTech over the mRNA vaccine technology that was at the forefront of the world’s fight against COVID-19.

Aspen’s Q2 profit tumbles 32.6%

Aspen Insurance reported on Thursday second-quarter net income of $46.5 million, off 32.6% from $69 million in second-quarter 2024, as net realized and unrealized investment losses, interest expense, and corporate and other expenses all increased.

AIG sets reserves for Air India Crash

American International Group Inc. has set the market reserve for the June 2025 Air India crash at $410 million, Insurance Insider reported. The reserve level suggests potential impacts on excess-of-loss reinsurance programs, with AIG and U.K.-based Convex Group Ltd. each holding 15% lines on Air India’s all-risks program.

New Hampshire announces another year of comp rate reductions

The New Hampshire Insurance Department announced a 6.1% reduction in average workers compensation loss costs for the upcoming year, the 14th consecutive reduction for employers.

Generali’s profits keep on climbing

Italy-based Assicurazioni Generali SpA posted an operating result of 4 billion euros ($4.7 billion) for the first half of 2025, up 9% year on year, Reinsurance News reported. Gross written premiums rose 1% to €50.5 billion and its combined ratio improved by 1.4 percentage points to 91%.

Zurich Insurance’s P&C profits jump nearly 10%

Switzerland-based Zurich Insurance Group AG posted net income of $3.1 billion for the first half of 2025, up from $3 billion a year earlier, Finews reported. The property and casualty business delivered a record operating profit of $2.4 billion, up 9%. Total gross written premiums rose 7% to $23 billion and the combined ratio improved […]

Back and shoulder injuries tend to be most costly in comp: study

Claims involving degenerative back conditions tended to be among the most costly, at an average of $120,000 in medical and indemnity payments, according to a study released Thursday by the Workers Compensation Research Institute.

Commercial lines rate hikes slow

Canada’s commercial insurance rate increases fell to an average of 3.6% in the second quarter of 2025, down from 5.8% a year earlier and less than half the levels seen two years ago, according to a report by Applied Industrial Technologies Canada, Canadian Underwriter reported. Most business lines rate hikes decline, including business and professional […]

Allianz’s Q2 net income up 12%

Germany-based Allianz SE posted second-quarter 2025 operating profit of 4.4 billion euros ($5 billion), up 12% year on year, Reinsurance News reported. Property and casualty business volume rose 9% to €20 billion, while operating profit increased 20% to €2.3 billion.

Hamilton Insurance’s profits grow to $187M

Bermuda-based Hamilton Insurance Group Ltd. posted net income of $187 million for the second quarter of 2025, up on strong underwriting and investment results, The Royal Gazette reported. Gross premiums written rose 18% year on year to $712 million, driven by 26% growth in the Bermuda segment and 10% in the international segment.

Kuwait Re’s profits jump 40%

Kuwait Reinsurance Company KSCP reported a net profit of 9.5 million Kuwaiti dinars ($31 million) for the first half of 2025, up 39% year on year, Reinsurance News reported. The growth was driven by a 15% increase in gross written premiums to $249 million and a 31% rise in investment income to $21 million.

NFP buys U.K. specialist insurer Bspoke

Aon plc’s NFP Corporation has acquired U.K.-based Bspoke Insurance Group Ltd. to expand its specialist insurance services in the country, Insurance Times reported. Formed in 2022 through a merger of British firms Precision Partnership Ltd. and U.K. General Insurance Group Ltd., Bspoke provides coverage in sectors including property and transportation, and plans to pursue further […]

Orient Insurance’s profits jump 20%

United Arab Emirates-based Orient Insurance PJSC posted a net profit of 503 million Emirati dirhams ($137 million) for the first half of 2025, up 21% year on year, Zawya reported. Insurance revenue increased 24% to AED4.5 billion, while total assets grew 16% to AED17 billion.