Everest Group hires CFO formerly with Corebridge Financial
Everest Group on Thursday named Elias Habayeb, formerly chief financial officer of Corebridge Financial, as executive vice president and group CFO, effective May 1, 2026.
NY appeals court reinstates carpal tunnel claim, denied in part over pickleball
A New York appeals court on Thursday reversed a state Workers’ Compensation Board decision that denied benefits to a longtime Suffolk County Water Authority employee who alleged he developed bilateral carpal tunnel syndrome from decades of repetitive hand use.
Illinois Supreme Court reverses disability pension for Chicago cop
The Illinois Supreme Court on Thursday reversed an appellate court ruling that ordered a duty disability pension for a Chicago police officer injured in an on-duty crash, holding that a city pension board acted within its discretion when it denied the claim.
Slow payouts are sending insurance customers running
A new study has confirmed what the competitive insurance industry has long suspected: nothing clears a room — or an insurer’s book of business — quite like a bad claims experience.
Starbucks must face shareholder lawsuit over surprise sales decline
Starbucks must face a lawsuit claiming it defrauded shareholders by concealing declining sales in the United States and China, its largest markets, leading to a 16% drop in its stock price after the coffee chain revealed the unexpected weakness.
Buffett-owned utility reaches $150 million Oregon wildfire settlement
PacifiCorp, owned by Warren Buffett’s Berkshire Hathaway, said on Wednesday it reached a $150 million settlement with 1,434 plaintiffs who blamed the utility for starting the 2020 Labor Day weekend wildfires in Oregon.
Judge refuses TRO request in ‘second tier’ Marsh suit against Howden
A federal judge declined Wednesday to issue a temporary restraining order against seven former Marsh employees who resigned to join Howden.
Tokio Marine’s international profit dips 6%
Japan-based Tokio Marine Holdings Inc. recorded international business profits of 235.4 billion Japanese yen ($1.5 billion) for the second quarter of fiscal 2025, down 6% as LA wildfire losses and foreign exchange effects weighed on results, Reinsurance News reported. Net premiums written across the international business decreased 4% to JPY1.6 trillion.
Sompo International’s profits jump 55%
Bermuda-based Sompo International Holdings Ltd. posted net income of $1.3 billion for the six months ended Oct. 31, up from $839 million a year earlier, Reinsurance News reported. The firm’s discounted combined ratio improved to 81% from 88% as insurance service profit surged 75% to $1 billion. Gross insurance revenue increased 7% to $8 billion.
Markel rolls out global construction and engineering cover
U.K.-based Markel International Ltd. has launched a global construction and engineering practice with limits up to $50 million, Continuity Insurance & Risk Magazine reported. The construction all-risks product will cover projects such as retail, data centers and civil engineering, while the erection all-risks product will focus on energy and industrial projects.
MS Amlin’s profit tumbles
U.K.-based MS Amlin Underwriting Ltd. saw profit after tax fall 46% year over year to 47 million British pounds ($61 million) for the first half of 2025 as California wildfire losses and aviation leasing reserves weighed on results, Reinsurance News reported. The combined ratio worsened by 10 points to 94%, while net premiums written rose […]
Saudi construction insurance rates drop as capacity grows
A surge in local and international capacity for the Saudi construction insurance market is driving down insurance pricing and offering broader coverage opportunities, according to U.S.-based Arthur J. Gallagher & Co., Zawya reported. The firm predicted this trend will persist for the next 12 to 18 months provided there are no significant regional losses.
Oak Global unit to offer retro from new Lloyd’s syndicate
London-based Oak Global Ltd. has launched retrocession division Oak Enterprise, which will underwrite through new Lloyd’s Syndicate 1440 starting Jan. 1, 2026, Artemis reported. The unit will focus on property and specialty retrocession for global reinsurance companies.
Triglav reports $137 million profit, premiums jump 38%
Slovenia-based Zavarovalnica Triglav dd posted a net profit of 119 million euros ($137 million) for the first nine months of 2025, an increase of 11% from a year earlier, SeeNews reported. Consolidated gross written premiums rose 38% year on year to €1.7 billion.
Marsh names new U.K. CEO
James Addington-Smith has been named the next CEO of Marsh U.K. Ltd. starting in early 2026, Re(in) Asia reported. He currently serves as president of Marsh Asia and will succeed Chris Lay, who plans to retire in the first quarter of 2026 after more than 40 years with the firm.
GCC insurers post steady profits
The combined net profit of 75 listed insurers in the Gulf Cooperation Council held steady at $1.7 billion in the first nine months of 2025, according to UAE-based firms Insurance Monitor and Lux Actuaries & Consultants Private Ltd., Middle East Insurance Review reported. The firms noted sharp differences across markets, with UAE insurers posting a […]
Skyward Specialty promotes Burkhart
Skyward Specialty Insurance Group announced Wednesday that it promoted John Burkhart to president, U.S. property and casualty.
Iraq sets new rules for domestic reinsurance
The Iraq Insurance Bureau issued new regulations to govern domestic reinsurance operations, including rules that mandate full disclosure of reinsurance programs, require adherence to retention limits and define the scope for intermediaries to prevent conflicts of interest, Middle East Insurance Review reported. As for insurance pools, requirements include prior regulatory approval, minimum capital standards and […]
Insurance IPOs hit 20-year high on Wall Street after tariff-driven chaos
Insurance companies’ first-time share sales on Wall Street hit a 20-year high this year as investors flocked to firms that were insulated from U.S. President Donald Trump’s trade war.