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Archive: November 2024

Allstate Says It’s Ready to Grow Homeowners Line With All 3 Distribution Channels
Insurance Journal | November 1, 2024
Allstate Says It’s Ready to Grow Homeowners Line With All 3 Distribution Channels
Allstate said it sees opportunity where others may not — in homeowners insurance. And the insurer plans to use all three distribution channels to do it. Due to rising trends in the frequency and severity of weather-related losses and in …
Retrial Begins in Civil Suit Against Contractor Accused in Abu Ghraib Prison Scandal
Insurance Journal | November 1, 2024
Retrial Begins in Civil Suit Against Contractor Accused in Abu Ghraib Prison Scandal
A military contractor accused of contributing to the abuse of detainees at Iraq’s Abu Ghraib prison two decades ago is again on trial in a federal courtroom after a long-awaited civil case earlier this year ended with a hung jury. …
Global Reinsurers’ ROE Jumps to 22% in 2023, but Market Softening Unlikely: AM Best
Insurance Journal | November 1, 2024
Global Reinsurers’ ROE Jumps to 22% in 2023, but Market Softening Unlikely: AM Best
AM Best’s population of global reinsurance companies posted a return on equity (ROE) of 22% in 2023 – a five-year high that was driven mainly by favorable investment income and strong underwriting performance. The fundamentals are excellent but Hurricanes Helene …
Markets/Coverages: IQUW Launches Financial Institutions Product in Australia
Insurance Journal | November 1, 2024
Markets/Coverages: IQUW Launches Financial Institutions Product in Australia
IQUW, the London-based property and specialty re/insurer, has announced that its financial institutions (FI) product, FortiFI, has launched new wording for the Australian insurance market. Launched in the US earlier this year, FortiFI is one of the only fully end-to-end …
Ardonagh Advisory Agrees to Acquire Rowett Insurance Broking in UK
Insurance Journal | November 1, 2024
Ardonagh Advisory Agrees to Acquire Rowett Insurance Broking in UK
Ardonagh Advisory announced it has agreed to acquire Rowett Insurance Broking Ltd. in the UK. Rowett specializes in commercial, and personal insurance from its offices in St. Austell and Plymouth, England. Its subsidiary company, AGRi Insurance Facilities Ltd., specializes in …
Ryan Specialty in Discussions to Acquire UK’s Innovisk Capital Partners
Insurance Journal | November 1, 2024
Ryan Specialty in Discussions to Acquire UK’s Innovisk Capital Partners
Ryan Specialty, the Chicago-based specialty insurance services firm, announced it is in final discussions to acquire Innovisk Capital Partners from Abry Partners and BHMS Investments LP. As a result of the acquisition, Innovisk would become a part of Ryan Specialty …
Kremlin Says Google Should Lift YouTube Block on Russian Broadcasters
Insurance Journal | November 1, 2024
Kremlin Says Google Should Lift YouTube Block on Russian Broadcasters
The Kremlin said on Thursday that Alphabet’s Google should lift its block on Russian TV channels broadcasting on YouTube and said it hoped huge legal claims racking up against the U.S.-based company would jolt it into action. Google stopped serving …
Bain-Backed Motor Insurer Esure Draws Interest from Aviva, Allianz
Insurance Journal | November 1, 2024
Bain-Backed Motor Insurer Esure Draws Interest from Aviva, Allianz
Aviva Plc and Allianz SE are among potential bidders for Britain’s home and motor insurance firm Esure Group Plc, according to people familiar with the matter. Sampo Oyj, which owns British general insurer Hastings Group, and Belgium-based Ageas have also …
People Moves: Marsh Promotes Lang, Aronson, Rouse in Placement Strategy; Chubb Expands Merna’s Role to Include Multinational Clients
Insurance Journal | November 1, 2024
People Moves: Marsh Promotes Lang, Aronson, Rouse in Placement Strategy; Chubb Expands Merna’s Role to Include Multinational Clients
Marsh Makes Global Senior Leadership Appointments Marsh, a business of Marsh McLennan, named Christopher Lang as digital leader, Marsh Specialty and Global Placement. In this newly created role, Lang leads Marsh’s digital global insurance placement strategy. Lang has spent the …
Deadly Spain Floods Show Difficulty of Adapting to Intense Rains
Insurance Journal | November 1, 2024
Deadly Spain Floods Show Difficulty of Adapting to Intense Rains
Floods that killed more than 150 people in eastern Spain this week were caused by a storm that dumped a year’s worth of rainfall in less than 24 hours. The tragedy has raised questions about whether earlier warnings could have …