Hanover offering industrial property product
The Hanover Insurance Group on Monday launched Hanover Specialty Industrial Property Advantage, an admitted property product designed for small to mid-sized businesses that manufacture, blend, distribute, warehouse or transport high-hazard products and materials.
Gallagher acquires bank-owned insurance agency
Arthur J. Gallagher & Co. announced Monday that it acquired Tompkins Insurance Agencies, a Batavia, New York-based unit of Tompkins Financial.
Rokstone introduces general liability program
Rokstone Construction Risk Underwriters on Monday launched a comprehensive general liability program with up to $5 million in limits.
Michigan comp bills would codify contractor/employer test, increase benefits
A bill in Michigan would codify the so-called “ABC test” for distinguishing between employees and contractors, a test already used by the U.S. Labor Department and neighboring states, including Ohio and Indiana.
Reese’s candy lawsuit not crushed
Like a chocolate-covered hand from the grave, a class action lawsuit against candy maker Hershey may be coming back to life, Reuters reported.
New York appeals court says COVID infection not compensable
A New York appeals court reversed an earlier ruling that found a school custodian’s COVID-19 infection compensable.
Profit jumps at CNA despite slower growth
CNA Financial recorded net income of $403 million in the third quarter, up 42% over the same period last year, as catastrophe losses were sharply lower than the same period last year.
SCOR’s underwriting turnaround stanches the red ink
France-based SCOR SE posted a net income of 217 million euros ($250 million) in the third quarter of 2025, reversing a loss a year earlier, with the property and casualty combined ratio improving to 81% from 88%, Reinsurance News reported. Gross premiums written totaled €4.6 billion, down from €5 billion, while group insurance revenue […]
Mapfre’s profit charges higher
Spain-based Mapfre SA posted a nine-month net profit of 829 million euros ($967 million), up 27% year over year, TradingView reports, citing Reuters. The group’s non-life combined ratio improved to 92% from 95%, while premiums rose 3% to €22.4 billion. Profit in Spain and Portugal reached €347 million, up 22%, which helped offset one-time costs […]
Blackstone funds new Lloyd’s syndicate with $300 million
U.S.-based Blackstone Inc. will fund the newly launched by Bermuda firm The Fidelis Partnership at Lloyd’s, using the London Bridge 2 insurance-linked securities structure, Artemis reported. The syndicate will write about $300 million in gross written premiums across property, specialty and bespoke lines, with three-year capacity provided by Blackstone-managed funds.
SiriusPoint’s net income rises 15%
Bermuda-based SiriusPoint Ltd. posted a net income of $80 million in the third quarter of 2025, up from $69 million a year earlier, with a combined ratio of 89% compared to 88% last year, Reinsurance News reported. Gross premiums written grew 26% to $871 million.
Hurricane losses expected to reach single-digit billions: Aon
Hurricane Melissa is expected to generate single-digit billion dollars in insured and economic losses, with a full $150 million payout likely from Jamaica’s World Bank catastrophe bond due to the storm’s low central pressure at landfall, according to Aon plc, Artemis reported. This significant loss event occurs despite very low insurance take-up rates on the […]
Saudi Re’s net profit slides
Saudi Reinsurance Company SJSC posted a net profit after zakat of 119 million Saudi Arabian riyals for the first nine months of 2025, down 75% year over year, primarily because the prior-year period included an exceptional SAR366 million capital gain from the sale of its stake in Probitas Holdings, Middle East Insurance Review reported. […]
As supply chains tighten, carmakers build chip-sharing platform
The German Association of the Automotive Industry plans to launch a temporary information platform to help manufacturers and suppliers mitigate risks associated with a potential future semiconductor shortage, Yahoo Finance reports, citing Reuters. The platform will allow companies to anonymously list available Nexperia semiconductor capacity, with negotiations taking place outside the exchange.
Ryan Specialty buys Canadian MGU
U.S.-based Ryan Specialty Holdings Inc. signed an agreement to acquire Stewart Specialty Risk Underwriting Ltd., a Canada-based managing general underwriter that focuses on large-account, high-hazard property and casualty risks, Reinsurance News reported. Stewart Specialty will join the Ryan Specialty Underwriting Managers division upon closing later this year.
Asia reinsurance margins set to narrow: S&P
S&P Global Ratings projects that reinsurers in the Asia-Pacific region will face pressure on underwriting margins as premium rates begin to soften due to rising competition, expanding capacity and increased presence of alternative capital, Insurance Asia reported. The credit rating agency anticipates that the gap between Asia-Pacific reinsurers’ underwriting margins and their global peers will […]
Oman Re’s profit soars 127%
Oman Reinsurance Company SAOG posted a net profit after tax of 3 million Omani riyals ($8 million) in the first nine months of 2025, up 127% from a year earlier, driven by a surge in net reinsurance results, Middle East Insurance Review reported. The insurer’s combined ratio improved to 94% from 98%, with gross […]
Berkshire cash hits record, profit climbs as Buffett exit looms
Berkshire Hathaway signaled on Saturday that it remained cautious about markets, letting cash swell to a record $381.7 billion even as profit rose, in its last financial report before Warren Buffett bows out as chief executive.
Insured losses from Hurricane Melissa estimated at up to $4.2 billion
Insured losses from Hurricane Melissa’s strike on Jamaica are expected to range between $2.2 billion and $4.2 billion, according to estimates from data analytics firm Verisk.