Insurance industry news
The latest headlines from leading insurance and business publications in Pakistan and worldwide, updated every hour.
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Microsoft’s contagious outage
This week's newsletter also discusses the Samsung-Canopius deal, a new Lloyd's Syndicate, an M&A update and Hong Kong captive plans. The post Microsoft’s contagious outage appeared first on InsuranceAsia News .
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National Beef Says Worst Is Over for US Cattle Cycle
Meatpacker National Beef Inc. said it is seeing a bottom in the US cattle industry’s downturn as it reported its highest margin in two years. “We do believe we are through the worst part of the cycle,” National Beef’s Chief …
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Henderson Named as Interim CEO of Louisiana Citizens
Louisiana Insurance Commissioner Tim Temple has named Ron Henderson to serve as the interim CEO of Louisiana Citizens. Henderson, who currently serves as the Louisiana Department of Insurance’s (LDI) Deputy Commissioner for Consumer…
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Trucking Company Settles Pregnancy Discrimination Lawsuit
Wabash National Corp., a nationwide producer of semi-trailers and other commercial trucking equipment and headquartered in Lafayette, Indiana, will pay $50,000 and provide other relief to settle a pregnancy discrimination lawsuit filed by…
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Miami Contractor Charged with Underreporting Payroll to NorGuard by $1 Million
A Miami construction company owner has been charged with theft and workers’ compensation fraud after he allegedly underreported his firm’s payroll by almost $1 million, a deception that defrauded NorGuard Insurance of more than $100,000 in…
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Marsh Re expects impact of Microsoft 365 outage on insurance market to be minimal
The insurance industry impact from the Microsoft 365 service disruption is projected to be minimal, mainly given the uneven nature of the disruption and the likelihood that most losses will be limited to short-term productivity and…
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Texas’ Next AG Vows ‘Tremendous Scrutiny’ of Tesla-SpaceX Deal
Texas Attorney General-elect Nathan Johnson vowed to take a close look at any potential merger between Elon Musk’s Space Exploration Technologies Corp. and Tesla Inc., warning of the perils of corporate concentration as the state’s two…
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Accelerant’s total revenue rises 4.2% to $278.6m in Q3’26
Accelerant Holdings, a data-driven risk exchange connecting underwriters of specialty insurance risk with risk capital providers, has reported total revenue of $278.6 million in the third quarter of 2026, up 4.2% from $267.4 million in the…
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South Korea’s liability crackdown sends Mirae Asset Life to a loss
Capital buffers are splitting across Korea’s life sector – and placement decisions may follow
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South Korea’s liability crackdown sends Mirae Asset Life to a loss
Capital buffers are splitting across Korea’s life sector – and placement decisions may follow
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Hiscox updates return estimates for Syndicate 33 and 6104
Bermuda-headquartered international specialist insurer Hiscox has released current estimates for the 2024 and 2025 accounts of Syndicate 33 and Syndicate 6104, reflecting minor upward revisions across most accounts compared to its August…
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GuideStone Embraces Insurance Agency Model for Churches and Ministries in NC
GuideStone Financial Services was founded in 1918 to provide retirement assistance to retiring Southern Baptist ministers and their families, partly with the help of a $1 million gift from John D. Rockefeller and his son. Today, after…
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Former Hiscox CEO Masojada Becomes Lord Mayor of London
Bronek Masojada had a reputation as a tough leader in the insurance world he worked in for three decades. He’s now planning to bring that same rigor to his role as Lord Mayor of the City of London in a …
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Insurer Denied Second Injury Fund Reimbursement for Late Notice
An insurer that pays full workers’ compensation benefits for an insured’s injured employee who has more than one employer is entitled to be reimbursed for the share made on behalf of the other employer. However, the workers’ compensation…
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Aviva GI premiums increase 19%, CoR improves to 93.8% in 9M’26
British insurer Aviva has reported a 19% increase in general insurance (GI) premiums to £11.8 billion in the first nine months of 2026, compared to £10 billion in 9M 2025, and a group undiscounted combined ratio of 93.8%, which improved…
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German Watchdog Warns Some Cooling Systems Remain Vulnerable to Hacking
Germany’s information security office BSI warned on Friday of ongoing vulnerabilities in some of Danish firm Danfoss’ industrial cooling appliances, following cyberattacks on refrigeration systems across Europe. The systems in question…
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South Korea’s non-life insurance profit masks a sector divide
Underwriting recovery is diverging sharply as investment income collapse pulls two of five carriers into reverse
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With Dwindling Litigation, GEICO Says it Doesn’t Need 114 Legal Staffers in Florida
With less claims litigation following Florida’s 2022 insurance reform legislation, GEICO says it doesn’t need so many legal staffers, and plans to layoff 114 remote employees who report to its Lakeland, Florida, office. “The Company…
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Kin delivers record Q3’26 new policy sales and 24% total revenue increase
Kin, a digital-first home insurance company, posted its highest quarterly new policy sales on record in the third quarter of 2026, as well as a 24% increase in total revenue, while intentionally swinging to a $3.7 million Adjusted EBITDA…
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Publication of Air Crash Probes Across the Globe Fall Short, Safety Advocates Say
National agencies around the world have not published enough air accident reports to generate recommendations that could improve safety for the flying public, advocates said on the sidelines of an industry conference on Thursday. Final…
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Recycled claim photos expose fraud at Japanese housing firm
Fire insurance controls at corporate agents are under pressure as insurers demand answers beyond a single branch
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UN launches disaster risk financing platform to strengthen anticipatory action
The United Nations (UN) has launched a joint platform aiming to secure access to more than $3 billion in risk financing to protect 75 million people and their livelihoods from climate shocks and natural hazards by 2030. The initiative was…
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ILS seeks growth beyond property cat as investors explore new opportunities: PwC Insurance Summit
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. An ILS focused panel at PwC’s Insurance Summit in Bermuda this week underlined how the market is entering a new phase. After…
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Hours-Long Microsoft Outage Disrupts Businesses, Governments Globally
A more than 12-hour outage of Microsoft Outlook and Teams crippled communications for businesses and governments globally on Friday, forcing some organizations to revert to fax machines and halting at least one bond repurchase in Europe…
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Aviva Flags Higher UK Home Subsidence Claims After Dry Summer
Aviva Plc has seen higher UK subsidence claims, the latest sign of the impact of this summer’s heat wave, which has dried out soil and caused the ground beneath homes to sink or shift. The British insurer experienced a “peak …
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Cowbell to Offer Standalone AI Liability Insurance for US SMEs
Cowbell announced Cowbell AI Liability Insurance, a standalone policy for U.S. businesses deploying AI agents that act on their behalf across customer service, payments, and core operations. Available starting Jan. 1, 2027, the policy is…
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Orion180 reports $11m net income in Q3’26, GPW increase 60.4%
Technology-focused specialty insurance group Orion180 has announced its financial results for the third quarter of 2026, reporting an increased net income of $11 million and a 60.4% increase in gross premiums written compared to the same…
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Viewpoint: The Cyber Insurance Industry’s AI Blind Spot
Highly sophisticated AI tools have become integral to modern business operations. According to McKinsey & Company, 88% of organizations report regular AI use in at least one business function. But as businesses adopt AI, the insurance…
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Cortina launch raises fresh concerns over additional reinsurance capacity: JP Morgan
“Additional capacity is rarely helpful for market pricing in our experience,” JP Morgan has said, as Aon prepares to bring a new reinsurance syndicate to Lloyd’s with capital from funds managed by Blackstone. Announced earlier this month…
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Microsoft Races to Fix Outlook in One of Its Longest Outages
Microsoft Corp. is struggling to restore access to its flagship software and end an outage that has paralyzed government offices, traders and businesses globally. Disruptions for Outlook, Teams and the Copilot artificial intelligence tool…
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VIG Re secures debut €60m Charles Bridge Re catastrophe bond priced at low-end
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. VIG Re, the reinsurance arm of Vienna Insurance Group, has now successfully priced its debut catastrophe bond, securing an…
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Aon expands Pietro Toffanello’s leadership remit across Iberia, South Africa & Israel
Aon has announced an expansion of Pietro Toffanello’s role, with him continuing to lead Aon Reinsurance in Italy while taking on broader responsibility for Iberia, sub-Saharan Africa and Israel. Toffanello has served as Chief Executive…
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MNK International names Danny Greenaway to head new Aviation and Aerospace division
MNK International, a Lloyd’s specialist insurance broker operating under MNK Group, has appointed Danny Greenaway as Managing Director to oversee the launch and development of its Aviation and Aerospace division. The move is intended to…
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Generali’s 9M’26 P&C operating result rises 4.5% despite higher cat and man-made losses
Generali increased its operating result by 8.5% to €6.45 billion in the first nine months of 2026, as growth across its business segments helped offset the impact of significantly higher natural catastrophe and large man-made losses in its…
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Marsh, Willis Re, Swiss Re, Miramar Group: 10 APAC insurance people moves of the week
Marsh Re, QBE, MSI, Knightcorp, Howden and Kiwi General Insurance also made personnel changes over the last week. The post Marsh, Willis Re, Swiss Re, Miramar Group: 10 APAC insurance people moves of the week appeared first on…
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Cortina: Just a soft market trend, or clearing the floor for reinsurance’s next act?
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Cortina has raised a lot of questions in the market, as to whether the recently launched Aon structured and Blackstone backed…
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Willis names Mulligan as Global Head of Risk Engineering
Insurance broker Willis, a WTW business, has announced the appointment of Chris Mulligan as Global Head of Risk Engineering, effective from 1 January 2027. With over 17 tears at Willis across client-facing and leadership positions within…
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AI gains ground among London insurance brokers despite growing workforce concerns: Burns & Wilcox
Insurance brokers in London are showing strong support for artificial intelligence (AI) and digital innovation, even as the sector faces mounting pressure to address an ageing workforce, changing recruitment requirements and increasing…
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Australia’s competition regulator opens review into QIB’s Axiom takeover
Competition watchdog has begun assessing Steadfast-backed QIB Group's proposed purchase of the Queensland broker, with a decision due by January 12. The post Australia’s competition regulator opens review into QIB’s Axiom takeover appeared…
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Willis Re appoints Kyung Won to senior Asia Pacific leadership role
Willis Re, a global reinsurance broking and advisory business, has announced the appointment of Kyung Won to a senior leadership role in Asia Pacific, as the company looks to expand its regional operations and strengthen its business…
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Freezer Hacks ‘a Wake-Up Call for Society’ Pentagon CIO Says
Kirsten Davies, the Pentagon’s Chief Information Officer, said the potential significance for the US of the recent supermarket freezer hacks in Europe dawned on her abruptly when she first read about them. “Holy cow! What else uses…
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OpenAI, Google, Anthropic Hit With Lawsuit Seeking to Halt Frontier AI Development
A group of nonprofits sued OpenAI, Anthropic, SpaceX’s AI division, Meta Platforms and Alphabet’s Google on Thursday, seeking to block the further development of the most advanced AI models over concerns, voiced by the companies’ own…
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Mamdani Vows 100 Construction Site Probes After 8 Killed in Building Collapse
New York City Mayor Zohran Mamdani said city officials would commence sweeps of 100 construction sites after eight people died in the collapse of a three-story Brooklyn apartment building. The building collapsed shortly after 4 p.m…
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IUAI to strengthen industry knowledge and expertise with Reinsurance and Data Study Group
The International Union of Aerospace Insurers (IUAI) has announced the formation of a new Reinsurance and Data Study Group (RDSG), broadening its technical scope. The new initiative brings together specialists from across the industry to…
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Wildfires Causing $1 Billion in Damage Have Jumped in Frequency in US
Billion-dollar wildfires in the US have become more than five times as frequent and 10 times as costly over the past two decades, according to a new analysis of the nation’s most destructive fires. The analysis, from Climate Central, a …
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California Orders Insurance Nonrenewal Moratorium for 50,000 Following Dove Fire
Property insurers are prohibited from canceling or declining to renew coverage for 50,000 residential policyholders in Tuolumne, Stanislaus and Calaveras counties for one year following the Dove Fire. California Insurance Commissioner…
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‘Loss of email could be ruinous’: cyber market braces for BI claims after Microsoft outage
Event likely to be determined to be a non-malicious technical failure, but the claims activity still expected to be meaningful, according to cyber market sources. The post ‘Loss of email could be ruinous’: cyber market braces for BI claims…
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Kyobo Life eyes majority stake in Axa Korea JV for US$75m: report
Proposed joint venture would restore Kyobo's control of the insurer after nearly two decades. The post Kyobo Life eyes majority stake in Axa Korea JV for US$75m: report appeared first on InsuranceAsia News .
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Hong Kong captives gaining momentum as IA eyes double-digit count
Insurance Authority (IA) CEO Clement Cheung says it is beginning to get positive signals from the market. The post Hong Kong captives gaining momentum as IA eyes double-digit count appeared first on InsuranceAsia News .
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Shift towards alternative capital, private credit not yet ‘systemically concerning’: IAIS
Supervisors must stay alert to ‘structural shifts’ and how risk transmits under stress, while AI guidance should enable, not constrain, innovation, the International Association of Insurance Supervisors (IAIS) says. The post Shift towards…
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As Singapore pushes digital hub role, Aon signs with Whitespace to bridge APAC connectivity gap
Signing with Verisk's digital trading platform adds a major broker to the platform as Singapore pushes its digital reinsurance hub ambitions, and as Verisk argues APAC is digitally enabled but not yet digitally connected. The post As…
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Microsoft email, teams goes out globally puts cloud concentration risk back on brokers' radar
A failure has cut business users off from Outlook, Teams and Copilot. For brokers, the harder question is whether any of the losses are covered.
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Ohio State Suspends Frat After Video Showing Men Engulfed in Flames
A fraternity at Ohio State University has been temporarily suspended while authorities investigate a video that appears to show two panicked men engulfed in flames. A video shared on social media shows a large group of people standing…
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Weather disaster losses account for higher share of national income in 13 countries, Munich Re finds
Munich Re research published to coincide with COP 31 in Türkiye has found that weather-related disaster losses accounted for a higher average share of national income in 13 of the 20 countries studied over the past decade than in the first…
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Kansas Woman Sentenced to Probation for Insurance Fraud
Kansas Insurance Commissioner Vicki Schmidt announced a Sedgwick County woman has been sentenced to 24 months of probation for insurance fraud. Julie LaChance, aged 38, pleaded guilty on August 20, 2026, in Sedgwick County District Court…
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Texas Grid Boss Wants Data Centers to Cut Power Before Blackouts
The boss of Texas’s electric grid will ask the state legislature for authority to require data centers to decrease power usage even before an emergency is declared. As it stands now, Texas has to be at level two of a …
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Vessel on Fire After Being Struck off UAE’s Ras Al-Khaimah: Maritime Agencies
A vessel was hit by an unidentified projectile about 14 nautical miles northwest of the UAE emirate of Ras Al-Khaimah on Wednesday, causing a fire in its engine room, British maritime agencies said in reports published on Thursday…
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Fort Lauderdale Official Urges Rapid Fix to Worsening Flooding in South Florida
Worsening flooding from king tides and rising sea level has prompted one Fort Lauderdale city commissioner to draft a plan to raise roads, elevate seawalls and offer financial support for flood barriers on homes. Commissioner Steve…
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Deadly Screwworm Spreads Fast With Milder Weather Fueling Resurgence
The New World screwworm has made a comeback in the US after months of relatively muted cases, thanks in large part to milder temperatures and humidity that are encouraging the deadly livestock parasite’s activity. More than 40 cases of…
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Financial advisers overtake banks in Singapore life insurance sales
Financial advisers capture 63% of Singapore life premium growth
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