Bermuda energy insurer loses A-level rating
A.M. Best said Thursday it had downgraded the financial strength rating of Everen Specialty and its affiliate OCIL Specialty to B++ from A-.
Trucordia buys five agencies
Trucordia announced Thursday that it has acquired five brokerages across four states.
NY appeals court says man with psych injury lied about income, condition
A Rite Aid pharmacy employee who was physically injured on the job in 2017 and later added a second workers compensation claim for “work-related major depressive disorder stemming from harassment and discrimination in the workplace” violated state law when he continued to work and take family trips, a New York appeals court ruled Thursday.
Allianz raises 2025 profit guidance
German insurer Allianz raised its full-year earnings guidance on Thursday, after reporting an increase in its nine-month operating profit.
More reductions expected for North America energy renewals
Energy insurance buyers in North America can expect further rate reductions at January renewals as capacity remains stable and competition grows, Willis Towers Watson said Thursday.
Not everyone happy about Target’s smile policy
According to a surge in social media posts, Target’s new smile-and-greet policy misses the mark among some employees and customers.
Latin America sees surge in reinsurance interest
Latin America is attracting international reinsurance interest as new entrants and fresh capital move into the region, according to U.K.-based Howden Reinsurance Brokers Ltd., Reinsurance News reported. Howden Re executives said capacity is increasing as firms from the Middle East and Asia look to diversify their portfolios and gain regional exposure.
Munich Re projects large hit from Melissa
Germany-based Munich Reinsurance Company AG expects mid-triple-digit million euros in losses from Hurricane Melissa, according to Chief Financial Officer Christoph Jurecka during the company’s third-quarter 2025 earnings call, Reinsurance News reported. While the figure remains an early estimate, Reinsurance CFO Andrew Buchanan said the expected loss fits within Munich Re’s fourth quarter loss budget.
Britain bans shipping and insurance services for Russian LNG
Britain will ban companies from providing services such as shipping and insurance for Russian liquefied natural gas exports as part of efforts to cut Kremlin revenue, Reuters reported. The Foreign Office said the ban will be phased in over 2026 in coordination with European partners.
Typhoon shuts businesses amid heavy flooding
Businesses and schools were shut across southern Taiwan as Typhoon Fung-wong brought neck-deep flooding and heavy rain to the island’s east on Wednesday, Channel News Asia reported. The storm, which arrived from the Philippines in a weakened state, is expected to graze Taiwan’s southern tip before moving into the Pacific.
Two Jamaican insurers to merge
Jamaica-based General Accident Insurance Company Ltd. and Beacon Insurance Company Ltd. of Trinidad and Tobago plan to establish a leading insurer in the Caribbean, Dominica News Online reported. Parent company Musson (Jamaica) Ltd. acquired full ownership of Beacon effective Oct. 31, making the insurer a subsidiary of General Accident, pending regulatory approval. The deal will […]
ADNIC reports 15% profit boost, premiums climb 17%
Abu Dhabi National Insurance Company PJSC posted a profit after tax of 355 million United Arab Emirates dirhams ($96 million) for the first nine months of 2025, Arabian Business reported. Total insurance revenue rose 16% to AED6.1 billion and gross written premiums increased 17% to AED7.2 billion.
Generali taps new group deputy CEO
Italy-based Assicurazioni Generali SpA has named Giulio Terzariol as group deputy CEO, giving him oversight of the insurer’s insurance business and eliminating the CEO Insurance role, Reinsurance News reported. Terzariol joined Generali in 2024 after serving as group CFO at Germany’s Allianz SE.
Atrium to launch cat-focused Lloyd’s syndicate
U.K.-based Atrium Underwriters Ltd. received in-principle approval from Lloyd’s to launch a delegated property catastrophe and weather and climate risk-focused syndicate backed by traditional and institutional capital, Artemis reported. The syndicate aims to begin underwriting on Jan. 1, 2026, and plans to target $150 million in gross written premiums for the 2026 year of account.
Saudi Arabia’s insurance sector’s profits slides
Saudi Arabia’s insurance sector saw profit after zakat and tax fall 41% year over year to 1.7 billion Saudi riyals ($453 million) in the third quarter of 2025, according to Badri Management Consultancy, Middle East Insurance Review reported. The decline was driven by sharp losses among all insurers outside the top five, which swung to […]
Hamilton names new chairs in U.K. and Ireland
Bermuda-based Hamilton Insurance Group Ltd. has named Dymphna Lehane chairwoman of Hamilton Managing Agency Ltd. in Britain and Karen Forte chairwoman of Hamilton Insurance Designated Activity Company in Ireland, The Royal Gazette reported. The moves follow the planned Dec. 31 retirement of Peter Haynes, who has chaired both boards since 2015 and 2020 respectively.
Santam appoints Mkhize as COO
South Africa-based Santam Ltd. has named Philile Mkhize as its new chief operating officer, Atlas Magazine reported. Mkhize brings more than 25 years of experience and has held leadership roles at major firms in South Africa including Liberty Group Ltd. and Absa Group ltd.
Amazon sued over ‘punitive’ handling of employee absences
Amazon.com was sued on Wednesday in a proposed class action saying the retailer subjects thousands of warehouse employees with disabilities to a “punitive” policy governing workplace absences.
Boeing ordered to pay over $28 million to 737 MAX crash victim’s family
A jury in federal court in Chicago ordered Boeing on Wednesday to pay more than $28 million to the family of a United Nations environmental worker who was killed in the 2019 crash of a 737 MAX jet in Ethiopia.