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Chinese credit insurer sees steady business growth in 2023
Cote d'Ivoire insurance market expands by over 15%
Forest fires devour over 17,000 hectares of land in Colombia
Alliant adds former USI exec
Alliant Insurance Services Inc. said Monday it has hired former USI Insurance Services LLC executive Michael Lezynski as executive vice president in its Alliant Americas division.
Specialty insurer Fortegra aims for up to $1.52 billion valuation in IPO
Fortegra Group, backed by private-equity firm Warburg Pincus, is targeting a valuation of up to $1.52 billion as it prepares for its initial public offering in New York, the specialty insurance company said Monday.
Owners use captive cells to manage difficult markets
Cell captives can provide a quick and effective solution for buyers facing difficulties in placing coverage in the commercial market, a panel of experts said.
Zurich North America announces executive changes
Zurich North America, part of Zurich Insurance Group, Friday announced executive changes in its direct markets and crop businesses.
George Carlin’s estate sues over bleeping artificial intelligence
One has to wonder what series of well-curated expletives the late comedian George Carlin would use in a rant if he knew he was brought back to life for a comedy program featuring his likeness created using generative artificial intelligence.
Captive industry must prioritize diversity: Experts
The captives sector must continue to embrace diversity and to build an inclusive culture in the workplace to attract and retain talent, experts say.
The BI Top 10: Week of Jan. 22, 2024
A trio of brokers this week posted strong revenue gains. Also of note: World Captive Forum coverage.
Africa Specialty Risks gets nod from Dubai authority for registration
Pan-African reinsurer Africa Specialty Risks Ltd. has received approval from the Dubai Financial Service Authority to register as a company.
Shippers required to sign contracts guaranteeing no ties with Israel
Underwriters are asking some shipowners to sign contracts guaranteeing that they have no ties with Israel or the U.S. in order to obtain cover for cargo ships passing through the Suez Canal.
Wizz Air swings to loss amid engine issues and Israel-Gaza war
Wizz Air Holdings PLC has reported a loss of €105.4 million ($115million) for the three months to December 2023, down from a profit of €33.5 million in the year-ago period amid supply chain issues at a key engine provider and suspension of flights due to Israel-Hamas war.
PIB Group acquires three Spanish brokerages
U.K.-based specialist insurance broker PIB Group Ltd. has purchased Spanish insurance brokerages Aguirre Vila-Coro Correduría Seguros S.L.U, Grupo Iddeas and Javier Sanchez Consultores, S.L.
ADM shareholder sues company, execs for fraud
A shareholder of Archer-Daniels-Midland has sued the commodities trader in U.S. federal court, days after the company’s stock plunged 24% on news that a securities regulator was investigating accounting practices in its nutrition segment.
Captive owners wise to embrace ESG issues
Captive owners that care about environmental, social and governance issues will be able to create beneficial and long-term relationships with insurers and reinsurance partners, experts say.
Gallagher reports nearly 20% increase in Q4 revenue
Arthur J. Gallagher & Co. reported fourth-quarter revenue of $2.39 billion, a 19.9% increase over the same period in 2022.
Owners leverage captives to negotiate lower rate hikes
Risk managers can use captives to negotiate down prospective commercial insurance rate hikes, even if they don’t end up using the captives to cover the risks, several captive owners said.
Captive formation surging: Panelists
Captive market growth continues to surge as businesses of various sizes turn to these risk-financing vehicles to manage their insurance costs and cover gaps, experts say.