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Tag: insurance-journal

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 …
Judge Tosses Lawsuits Filed Over NYC’s Strict Rules on Short-term Rentals
Insurance Journal | August 10, 2023
Judge Tosses Lawsuits Filed Over NYC’s Strict Rules on Short-term Rentals
A New York judge on Tuesday dismissed lawsuits filed by Airbnb and three hosts over New York City`s rules for short-term rentals, saying the restrictions are “entirely rational.” In a 14-page ruling, Supreme Court Judge Arlene P. Bluth said having …
Verisk Beats Expectations with Q2 Earnings
Insurance Journal | August 10, 2023
Verisk Beats Expectations with Q2 Earnings
Verisk Analytics Inc. (VRSK) on Wednesday reported second-quarter earnings of $196.9 million. The Jersey City, New Jersey-based company said it had profit of $1.35 per share. Earnings, adjusted for one-time gains and costs, were $1.51 per share. The results beat …
Could Georgia Be Next With Major Tort Reform? Kemp Calls for Limits
Insurance Journal | August 10, 2023
Could Georgia Be Next With Major Tort Reform? Kemp Calls for Limits
Georgia Gov. Brian Kemp said Tuesday that he wants to make it harder for people to file lawsuits and win big legal judgments, arguing that suits are driving up insurance and business costs. “The laws on our books make it …
Lloyd’s Leads Insurers in Raising Rates, Cutting Taiwan Cover as Conflict Risks Rise
Insurance Journal | August 10, 2023
Lloyd’s Leads Insurers in Raising Rates, Cutting Taiwan Cover as Conflict Risks Rise
Lloyd’s of London underwriters are leading insurers in raising rates and cutting the amount of cover they offer for risks involving Taiwan as concerns grow over possible military action by China, industry sources with knowledge of the matter say. Insurers …
Norwegian River Dam Partly Collapses After Floods
Insurance Journal | August 10, 2023
Norwegian River Dam Partly Collapses After Floods
A dam on a Norwegian river partly collapsed on Wednesday, sending water gushing through a gaping hole in the structure after days of heavy flooding, TV images showed. The Braskereidfoss power dam on the Glomma River, Norway’s biggest waterway, had …