Category Archives: Insurance

Insurance

Partner Re awarded $10.9 million in damages for failed merger

RPM is also on the hook for interest. Judge Engelmayer found that RPM had “willfully breached its obligations” under the merger agreement. Family-owned California-based mortgage bank RPM was meant to buy a major share in Entitle Direct Group, an Ohio-based title insurance company owned by Partner Re, but RPM failed to show up at the… Read More »

USAA taps new claims exec

USAA has announced the appointment of Clyde Douglas (pictured above) as senior vice president and general manager of claims. In his new role, Douglas will oversee the company’s claims organization. Douglas has more than 25 years of industry experience. He joins USAA from Chubb, where he served as executive vice president and chief… Read More »

Lockton boasts highest year-on-year revenue growth in company history

Global insurance broker Lockton posted record-breaking revenue of $2.69 billion in the 2022 fiscal year ending April 30, representing 27% growth from the previous year, most of which was considered organic. US-headquartered Lockton is a privately-owned brokerage with approximately 9,000 associates doing business in over 125 countries. Over the past 12 months, the… Read More »

AGCS makes changes to global property leadership team

Allianz Global Corporate & Specialty (AGCS) has appointed Mike Martin as global head of property, effective May 16. He will be based in Atlanta and will report to Shanil Williams, chief underwriting officer, corporate. Martin joins AGCS from AIG and succeeds Maria Grace, who left AGCS in late 2021. He has over 35… Read More »

VIAA signs Illinois agency | Insurance Business America

Valley Insurance Agency Alliance (VIAA), an alliance of nearly 150 independent insurance agencies in Missouri and Illinois, has announced that Farmer City, Ill.-based Main Street Insurance Group has joined the network. Founded in 2006, Main Street Insurance Group was acquired in 2018 by owner Josh Hawn (pictured above), who began working at the… Read More »

Is taking out critical illness insurance worth it?

Data gathered by the American Heart Association (AHA) in 2019 has shown that about 720,000 people in the country experience a heart attack each year, while one person suffers a stroke every 40 seconds. Figures from the American Cancer Society, meanwhile, indicate that both men and women in the US have a 33% chance of… Read More »

Allstate hit by death of key executive

“Rhonda was a visionary force and passionate friend, coach, and mentor whose leadership helped ignite Allstate’s transformation and create societal impact,” Allstate said in a statement. Ferguson joined Allstate in November 2020 following a 10-year stint in private practice. She also joined the board of Exelon’s Constellation Energy earlier this year. Ferguson began her career… Read More »

How insurers are winning the tussle for talent

People want fair compensation and benefits, they want flexible working arrangements, and, increasingly, they want to work for employers who are in tune with the major societal impacts of the day, such as diversity, equity, and inclusion (DE&I) and the green economy. If insurance employers can deliver that, then they may be able to tip… Read More »