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Swiss Re to Withdraw From Digital Insurer iptiQ, Reports Strong Q1 Net Income of $1.1B
May 16 2024 // Swiss Re announced plans to withdraw from its digital B2B2C insurance business, iptiQ, following a strategic review. The iptiQ business lost $250 million in 2023, but the loss was projected to be less in 2024....
Maine OKs 15.7% Rate Cut for Its Biggest Workers’ Compensation Insurer, MEMIC
May 16 2024 // The Maine Bureau of Insurance has approved a 15.7% average rate reduction in workers’ compensation insurance premiums for Maine Employers’ Mutual Insurance Co. (MEMIC), the largest workers’ compensation...
Buffett’s Berkshire Reveals $6.7 Billion Stake in Insurer Chubb
May 16 2024 // Warren Buffett’s Berkshire Hathaway Inc. unveiled a $6.7 billion stake in insurer Chubb Ltd., ending months of suspense over its mystery position in a financial firm, previously kept concealed in regulatory...
Insurance Companies Feeling the Pressure in Iowa and the Midwest
May 15 2024 // A New York Times article this week reported troubles in Iowa and insurers pulling up stakes from the Hawkeye State, leaving the homeowners’ insurance market. The exits were prompted by horrendous financial results...
Insurer Bowhead Specialty Seeks About $491M Valuation in IPO
May 13 2024 // Insurer Bowhead Specialty is targeting a valuation of about $491 million in its initial public offering in the United States, as it joins a slew of companies preparing to list amid a rebound in the capital markets. The...
Insurers Like California Governor’s Statement About Expedited Rate Filings
May 10 2024 // Insurers are applauding a move by California Gov. Gavin Newsom to try and expedite the insurance rate filing process. Newsom made the proposal while discussing the state’s budget. It was mentioned in a press...
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