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Archive: August 2023

Hedge Fund Manager Loeb Agrees to Hold Off Attempts to Take SiriusPoint Private
Insurance Journal | August 10, 2023
Hedge Fund Manager Loeb Agrees to Hold Off Attempts to Take SiriusPoint Private
Hedge Fund Manager Daniel S. Loeb has agreed he will not make further attempts to take SiriusPoint private for two more years. SiriusPoint and Loeb, who has about a 9.5% shareholding in the Bermuda-based specialty insurer and reinsurer, have entered …
Liberty Mutual Posts Q2 Loss of $585M Driven By Catastrophes
Insurance Journal | August 10, 2023
Liberty Mutual Posts Q2 Loss of $585M Driven By Catastrophes
Liberty Mutual Holding Co. reported a second-quarter net loss of $585 million, driven by catastrophe losses of about $2.27 billion. Tim Sweeney, president and CEO, said weather losses were primarily from widespread wind and hail events in Texas, Oklahoma, and …
Best Agencies to Work For: Submit Your Agency Today
Insurance Journal | August 10, 2023
Best Agencies to Work For: Submit Your Agency Today
Is your agency a Best Place to Work? Then it’s time to nominate your agency as a “Best Agency to Work For.” To nominate your agency, you must be a current employee of the agency you are nominating. A MINIMUM …
People Moves: DUAL North America Named Gosselink EVP Fine Art; Hennessy Now CEO McGill Global Risk Solutions
Insurance Journal | August 10, 2023
People Moves: DUAL North America Named Gosselink EVP Fine Art; Hennessy Now CEO McGill Global Risk Solutions
DUAL North America appointed of Peter Gosselink as executive vice president of its fine art program. Gosselink trained as a marine underwriter specializing in fine arts and collections before becoming versed in insuring various artwork and collectibles for commercial and …
At least 36 killed, Hundreds of Properties Destroyed in Hawaii Fires
Insurance Journal | August 10, 2023
At least 36 killed, Hundreds of Properties Destroyed in Hawaii Fires
Thousands of Hawaii residents raced to escape homes on Maui as blazes swept across the island, destroying parts of a centuries-old town and killing at least 36 people. The fire left behind burned-out cars on once busy streets and smoking …
Allianz Q2 Profit Jumps 7.1% on Higher Results from US Life & Health Insurance
Insurance Journal | August 10, 2023
Allianz Q2 Profit Jumps 7.1% on Higher Results from US Life & Health Insurance
Allianz SE, the German owner of bond giant Pacific Investment Management Co., said its second-quarter profit jumped from a year earlier as stronger earnings from its insurance business offset weaknesses in its asset management units. Group operating profit increased 7.1% …
Surplus Lines Premium Increases 16% to Nearly $36 Billion Through June
Insurance Journal | August 10, 2023
Surplus Lines Premium Increases 16% to Nearly $36 Billion Through June
Surplus lines premium reached nearly $36 billion through the first six months of 2023, according to the 2023 Midyear Report of the U.S. Surplus Lines Service and Stamping Offices. Premium increased about 16% overall compared to results reported through the …
Tennessee Governor Unveils Agenda for Special Session on Gun Safety
Insurance Journal | August 10, 2023
Tennessee Governor Unveils Agenda for Special Session on Gun Safety
Tennessee Gov. Bill Lee on Tuesday unveiled a sweeping list of public safety issues he wants lawmakers to address during an upcoming special session prompted by a shocking Nashville school shooting earlier this year that resulted in the deaths of …
Zurich Insurance CEO Criticizes Climate Alliances After Exodus
Insurance Journal | August 10, 2023
Zurich Insurance CEO Criticizes Climate Alliances After Exodus
The chief executive officer of Zurich Insurance Group AG has spoken out against the network of voluntary climate alliances that represent some of the biggest names in global finance, calling them “political and bureaucratic.” Mario Greco, who led his firm …
WV Approves Raises for Corrections Workers as Lawsuits Filed Over Conditions
Insurance Journal | August 10, 2023
WV Approves Raises for Corrections Workers as Lawsuits Filed Over Conditions
West Virginia`s state Legislature approved millions of dollars in raises and bonuses for corrections employees Tuesday, the same day as a lawsuit was filed against Republican Gov. Jim Justice and other state leaders over working conditions in the state’s regional …