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P/C Industry Posts 2021 Underwriting Loss but Surplus Hits $1 Trillion
Full-year net income for U.S. property/casualty insurers increased slightly to $61.9 billion from $60.3 billion in 2020, but the industry turned in a $3.8 billion underwriting loss in 2021. The P/C industry posted a $5.2 billion underwriting gain in 2020 …
POSTED MAY 26, 2022 2:45 PM |
Attorney Paying Former Las Vegas Vegas Mogul Steve Wynn Defamation Claim
Former Las Vegas casino mogul Steve Wynn has accepted an undisclosed financial settlement to end his federal defamation lawsuit against a well-known attorney who represented a dancer who she said accused Wynn of sexual harassment and retaliation. Los Angeles attorney …
POSTED MAY 26, 2022 2:06 PM |
People Moves: Oneglobal Appoints IRB’s Oka as CEO Reinsurance Brazil; Chubb Names 3 Senior Leaders for Financial Lines in UK, Ireland, S. Africa, Global Markets
Oneglobal Appoints IRB’s Oka as CEO Reinsurance Brazil Oneglobal Broking announced the appointment of Adriano Oka as CEO Reinsurance Brazil. Oka will report to Nery Silva, CEO Mercosul, Oneglobal Brazil. The appointment is effective immediately. Oka will have responsibility for …
POSTED MAY 26, 2022 2:06 PM |
Miami-Dade to Pay $4 Million in Police Chase Crash That Injured Baby
Miami-Dade County has agreed to pay a record $4 million for the care of a girl whose spinal cord was severed in a crash with a police cruiser that was speeding into an intersection with non-working stoplights as a hurricane …
POSTED MAY 26, 2022 1:15 PM |
Delaware Governor Carney Vetoes Bill to Legalize Recreational Marijuana
Delaware Gov. John Carney on Tuesday vetoed a bill to legalize possession of up to one ounce of marijuana by adults for recreational use, drawing the wrath of fellow Democrats who have fought for years to make weed legal. In …
POSTED MAY 26, 2022 1:07 PM |
Teva, Allergan Reach $161.5 M Opioid Settlement with West Virginia
Teva Pharmaceutical Industries TEVA and AbbVie’s Allergan unit reached a settlement worth $161.5 million to resolve claims the companies fueled an opioid epidemic in West Virginia, state attorney general Patrick Morrisey said on Wednesday. The agreement is the largest state-negotiated …
POSTED MAY 26, 2022 12:51 PM |
Hackers Breached Some GM Accounts, Accessing Personal Data
Hackers compromised some online accounts of General Motors Co. customers in April, potentially accessing addresses, phone numbers and other personal information, according to a data breach notice filed with California regulators. In a letter to affected customers, GM said it …
POSTED MAY 26, 2022 12:28 PM |
King Cruises to Victory over Trump Pick in Georgia Insurance Commissioner Primary
Georgia’s incumbent insurance commissioner easily survived a Republican primary challenge from a candidate endorsed by former President Donald Trump. The Democratic candidate will be decided by a runoff. Commissioner John King was appointed to the role in 2019 by Gov. …
POSTED MAY 26, 2022 12:27 PM |
Brickell Pulls Plug on Acquisition of Randall & Quilter; R&Q Plans Fundraise
Property/casualty speciality insurer Randall & Quilter Investment Holdings Ltd. announced its planned acquisition by Brickell PC Insurance Holdings LLC. has been terminated by shareholder Brickell. R&Q announced in April it agreed to be purchased by Brickell for £482 million ($604.3 …
POSTED MAY 26, 2022 11:55 AM |
Howden Gets Regulatory Nod to Raise Stake in Howden India to 100%
Howden, the international insurance broker, announced it has obtained approval from the Insurance Regulatory and Development Authority of India (IRDAI) to increase its shareholding in Howden India from 49% to 100%. The move is subject to post completion approval from …
POSTED MAY 26, 2022 9:01 AM |
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