In life, protection premiums climbed 9% across EMEA, Latin America and Asia Pacific, more than offsetting easing savings sales in Spain. Farmers Management Services lifted underlying fee income by 4%, with the Farmers Exchanges adding around 84,000 policies in the quarter and a further 49,000 in April.
Author: Awais
Typhoon activity in the Northwest Pacific Ocean is expected to be the highest this year since 2015, according to commercial forecaster Tropical Storm Risk. The projection for 2026 is 25% above the historical average, driven by an emerging El Niño and stronger-than-normal westerly winds, the London-based group said in its first outlook for the season published this week. It forecast 18 typhoons forming, of which 11 will be intense, higher than the 10-year average of 14.2 and 8.4, respectively. The European Centre for Medium-Range Weather Forecasts is also predicting an above-normal number of tropical storms in the Northwest Pacific this…
Clients of the drug middleman can pay monthly fees per member that aren’t linked to manufacturers’ list prices or prescription volume.
The U.S. Department of Justice said on Tuesday it had reached a settlement with PayPal to resolve an investigation into a 2020 investment program that the department described as giving “unlawful” preferences to Black and minority-owned businesses. Under the settlement, PayPal will launch a new initiative that waives processing fees on $1 billion in transactions — valued at about $30 million — for eligible U.S. small businesses that are veteran-owned or operate in farming, manufacturing or technology, the department said in a statement. “For more than two decades, PayPal has helped small businesses start, scale, and thrive by expanding access…
Inszone Insurance Services announced the acquisition of Smith & Company Insurance, Inc. This strategic acquisition brings an agency with roots dating back to 1904 into the Inszone organization, continuing to strengthen its footprint across the state of Arkansas. With its earliest documentation tracing back over a century to 1904, Smith & Company Insurance has a long and storied history of serving its local communities. The Smith family officially purchased the agency in 1971, building it into a trusted local institution. Today, the agency is co-owned by Mark Smith, Drew Higginbothom, and William Smith who have expanded the business while maintaining…
Global organization are moving from risk mitigation to a risk-led strategy as business leaders shift their approach to risk, influenced by geopolitical instability, economic uncertainty, and technological disruption. According to Worldwide Broker Network’s (WBN) “New Risk Reality Report,” resilience has become a competitive advantage, said senior business executives surveyed across the U.S., United Kingdom, Canada, France, Germany, and Spain. Olga Collins “As organizations navigate uncertainty, risk management has never been more mission critical, yet it remains one of the most misunderstood and undervalued levers of corporate resilience,” Olga Collins, CEO of the independent insurance broking and employee benefits network, in…
The impact of the energy crisis on the global economy in recent months is showing up in gauges of supply-chain stress that flashed red during the pandemic, adding to reasons for central banks to be on guard for a recurrence of high inflation. The following dashboard of logistics activity shows that some gauges are at their highest since the 2020-23 period, when economies locked down, shortages emerged and shipping snarls persisted. While the indexes are still far from their COVID highs, they reflect disruptions to global trade from the Iran war that bear some similarities to what happened back then.…
W. R. Berkley Corporation, the US-headquartered insurance holding company, once again reported higher premiums being ceded to its Lifson Re collateralized reinsurance sidecar for Q1 2026, while the company also recognised more fee income being earned from the structure.Recall that W. R. Berkley capitalised the Lifson Re sidecar to the tune of $418 million for 2025, which marked the vehicle’s largest capital raise at the time. There’s been no change for the 2026 underwriting year, with the sidecar’s capitalisation remaining static and W. R. Berkley’s stake and the quota share cession ratio both remaining at 32.5%. But steadily, W. R.…
The hacking group that targeted the Canvas educational tool and the parent company that owns the software struck a deal to secure stolen student and school data, the company said in a statement late Monday. In a statement posted to its website, the company said it “reached an agreement with the unauthorized actor involved with this incident.” As part of the agreement, all data was returned to the company, the company received digital confirmation of data destruction, and the company was informed that “no Instructure customers will be extorted as a result of this incident, publicly or otherwise.” The agreement…
Corebridge and Equitable also named the leadership team for their combined company
Strikes at Kaiser, including a monthlong work stoppage among 31,000 nurses and other employees, added to the nonprofit health system’s rising expenses in the first quarter, which dinged its operating margin.
A backdated policy change and an MCS-90 fight reshape who pays for a $1m trucking default
Today is the 27th anniversary of the official launch of Artemis, so as usual for our celebratory official-birthday article (which is on the date for once) we wanted to highlight that since beginning to track catastrophe bond and insurance-linked security (ILS) issuance activity we’ve analysed and included nearly $220 billion of transaction volume in our extensive Deal Directory.Artemis was actually live prior to May 11th 1999, but that was the date it was unveiled to an audience of reinsurance and capital market focused executives at an event held in Bermuda. At that time, Bermuda did not have much of an…
Child paid premiums for nearly 20 years. When she eventually filed a claim citing her bathing, dressing, toileting, transferring, continence, eating, and mobility needs, Unum denied it. Those limitations existed on day one, and the existing-loss provision applied.