Hiscox Re & ILS net insurance contract written premium increased 17.9% in H1 2023 to $345.1 million, supported by robust double-digit growth in the North American natural disaster, retrocession, and marine books.
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WSIA: Surplus Lines Premium Continues Upward Trend During 1H 2023
Surplus lines premium reached nearly $36 billion, and premium bearing transactions neared 2.9 million through the first six months of 2023, according to the 2023 Midyear Report of the U.S. Surplus Lines Service and Stamping Offices.
Captive Growth Continues as Captives Outperform Commercial Market
Captive insurance companies rated by A.M. Best posted strong results for 2022, once again outperforming commercial insurers, as captive use continues to grow and broaden in response to the hard market, panelists on an A.M. Best briefing said Friday.
Kemper Announces Exit from Preferred Home and Auto Business
Kemper Corporation announced on Monday that it is exiting the preferred home and auto insurance market, sold through its Kemper Personal Insurance brand, and will actively reduce the business immediately, with all policies being non-renewed or canceled in accordance with applicable state regulations.
U.S. Insurers Invested in Fossil Fuels as Climate Risks to Underwriting Mount
U.S.-based insurers have invested hundreds of billions of dollars in fossil fuel-related assets which in turn contribute to the risk of climate-related damage to the underwriting side of their businesses, a new report said on Tuesday.
Berkley Design Professional Now Participating in Deltek Marketplace Partner Network
Berkley Design Professional, a division of Berkley Alliance Managers, a Berkley Company, is excited to announce it has joined the Deltek Marketplace.
White House Pushes K-12 Cybersecurity Following Hacks at LAUSD and Other Schools
Almost a year after hackers exfiltrated 500GB of data including 2,000 student records from the Los Angeles Unified School District, Superintendent Alberto Carvalho joined White House officials in calling for improved cybersecurity at K-12 schools across the nation.
Berkshire Hathaway’s Operating Earnings Rise Nearly 7%
Berkshire Hathaway on Saturday reported a solid increase in second-quarter operating earnings, while the cash hoard at Warren Buffett’s conglomerate swelled to nearly $150 billion.
Surging Interest Rates Loom over Apartment Building Owners
Apartment buildings, long considered a real-estate haven, are emerging as the next major trouble spot in the beleaguered commercial-property world.
Trucking Company Yellow Files for Bankruptcy, Will Liquidate
Yellow, the 99-year-old trucking company, filed for bankruptcy and is closing the business, falling victim to mounting debt including a government loan and a standoff with the Teamsters union.