Reinsurer Munich Re beat its full-year earnings target with a 16.7% gain despite Ukraine-related claims.
Author: Annie George
Supreme Court Upholds California’s $302M Penalty Against J&J
The Supreme Court denied Johnson & Johnson’s appeal of a ruling requiring the company to pay California $302 million in penalties for deceptive marketing of pelvic mesh implants, which can cause serious vaginal pain and physical damage.
Liberty Mutual Insurance Reports Fourth Quarter and Full-Year 2022 Results
Liberty Mutual Holding Company Inc. and its subsidiaries reported net income of $612 million and of $414 million for the three and twelve months ended December 31, 2022.
ReSource Pro Welcomes Thad DeBerry as Partner, Consulting
Insurance industry veteran joins ReSource Pro to help grow consulting practice.
Commercial Lines Premiums Rose an Average of 8% for Q4 2022
Premiums increased for the 21st consecutive quarter in Q4 2022, with respondents reporting an average premium increase across all account sizes of 8.0%, down slightly from 8.1% in Q3 2022.
Elon Musk’s Lawyer Asks Court to Throw Out ‘Twitter Sitter’ Deal with SEC
Following Elon Musk’s recent victory in a securities fraud trial, the Tesla CEO’s lawyer has asked an appeals court to overturn his 2018 agreement with the SEC requiring him to have a company lawyer review his Tesla-related tweets before sharing them.
Humana Exits Employer Insurance Business
Humana Inc. announced its intention to exit its Employer Group Commercial Medical Products business, which includes all fully insured, self-funded, and federal employee health benefit medical plans.
Lemonade Posts 64% Top-Line Growth in Q4, As Loss Ratios Improve
Lemonade has reported a 64% increase in in-force premium for the fourth quarter of 2022, alongside improvements in its loss ratios and a narrower net loss.
Chubb Introduces Chubb Climate+ and Leadership Appointments for Global Climate Business Unit
Chubb today announced the name for the new global climate business unit the company launched last month: Chubb Climate+.
McKinsey Report: Expanding Commercial P&C’s Market Relevance
The nature of risk is evolving faster than ever. Commercial carriers must step up to fulfill the societal desire for resilience in a volatile world by closing protection gaps—or risk losing relevance, according to a report by McKinsey.