Northern Re’s recent $150 million capital raise marks a significant step in the expansion of its technology-enabled platform. According to the firm’s founding brothers, Anthony and Peter McKelvy, Northern Re is navigating a shift in the reinsurance landscape where investors are increasingly prioritising operational transparency over purely financial objectives.As casualty portfolios become more complex and reporting requirements grow heavier, Northern Re is positioning its unified technology platform as a critical bridge between traditional capacity and the evolving expectations of the insurance-linked securities (ILS) market. While the capital injection provides the necessary scale, the firm’s strategy is rooted in a fundamental…
Author: Awais
A net zero alliance for asset managers has resurrected itself after shelving its work last year amid a wave of US defections. The Net Zero Asset Managers initiative now has more than 250 signatories, including Aberdeen Investments and Amundi SA, as well as the European and UK entities of T. Rowe Price Group Inc. and Wellington Management, according to a statement on Wednesday. NZAM suspended its operations in January 2025, announcing at the time that it would conduct a review to ensure it remained “fit for purpose.” That decision coincided with a mass exodus from net zero groups, with an…
A mutual life giant, a Florida homeowners’ specialist and a tech‑driven MGA platform all reported better 2025 numbers
The city of San Diego is paying $6 million to a group of insurers to compensate them for paying claims from floods in January 2024 floods. The city council granted final approval Tuesday to the settlement, part of a longer process in which the city is facing dozens of lawsuits over floods that destroyed homes and displaced residents. Insurers and residents sued the city, arguing it caused the flooding and damage by failing to maintain its stormwater system, the San Diego Union-Tribune is reporting. According to the newspaper, the payments go to 17 insurance carriers in four subrogation lawsuits and…
The American Equity Underwriters, one of the largest providers of workers’ compensation insurance for waterfront employees, has named Jason Lake senior vice president and director of loss control. Lake Lake will succeed Jimmy Burgin, who plans to retire in July after 30 years with AEU, the company said in a news release. Lake has been senior loss control manager with AEU since 2013, based in Indiana. He has now moved to AEU’s headquarters in the port city of Mobile, Alabama. He is a certified safety professional, chairs the AEU Loss Control Advisory Council, leads his local chapter of the American…
In a lawsuit filed against Cigna for refusing to cover weight loss medication, a Maine worker described the condition and its impact too generally, the appeals court said.
They include a new board member and two non-executive directors
The Florida Cabinet and Gov. Ron DeSantis agreed Tuesday to give Hillsborough College a 22-acre (49-hectare) plot of state land in Tampa to use for a proposed ballpark for the Rays. Last month, the Rays ownership entered a memorandum of understanding to build a stadium and mixed use entertainment district on the college campus, and to renovate some of the college’s buildings. A small section of the property, which is next to the New York Yankees’ spring training facility and across a highway from Raymond James Stadium, was owned by the state of Florida. The state holds the right to…
French beauty group L’Oreal, British vacuum manufacturer Dyson and contact lens maker Bausch + Lomb became the latest corporations to sue for refunds of tariffs paid under President Donald Trump’s emergency trade measures, days after the U.S. Supreme Court ruled the duties unlawful, court filings showed. The cases were filed on Monday in the U.S. Court of International Trade, adding them to a growing list of prominent companies to file suit following Friday’s landmark ruling. Global transportation company FedEx and U.S. skincare and fragrance company Sol de Janeiro also filed complaints this week. More than 1,400 importers including big-box retailer…
A recent survey of more than 1,200 global businesses found that as artificial intelligence adoption accelerates, 82% of respondents report positive impacts on their organizations. Global insurance brokerage Gallagher recently released its third annual AI Adoption and Risk Survey, which found that companies are increasingly integrating AI into their operations, focusing on IT operations, client-facing functions and analytics, with 63% of businesses having fully operationalized or implemented AI within parts of their business, up from 45% in 2024. The majority of respondents (83%) believe that AI will drive revenue growth in the future, and 93% reported feeling confident in their…
A federal judge this week granted Marsh its request to prohibit a group of employees who left for Howden US from using its confidential information, soliciting other former employees, and trying to acquire current and prospective Marsh clients. An opinion and order out of U.S. District Court for the Southern District of New York concluded that Marsh “has demonstrated that it is likely to succeed on the merits of at least some of its claims” of breach of contract. Last November, Marsh USA filed a lawsuit against seven former employees—Alfred Gronovius, Andrea Amodeo, Carlos Serio, Giovanni Perez, Janette Wilcox, Nathan…
The investigation began after the health IT company failed to comply with financial reporting requirements, which led to its delisting from the Nasdaq in early 2024.
Kaiser companies offer a wide range of health plans, covering individuals, families, groups, Medicare Advantage, Medicaid, and the Federal Employees Health Benefits Program. Most plans are HMO-based, requiring members to use Kaiser’s network of 618 medical offices and 40 hospitals, with a primary care doctor for specialist referrals.
Headline stock gains turned heads, but real industry averages tell a more complicated story