Ryan Specialty Launches New Sidecar to Support its Delegated Underwriting
International specialty insurer Ryan Specialty announced the formation of a new collateralized reinsurance vehicle called Ryan Alternative Capital Re, Ltd. (RAC Re) RAC Re will deliver additional capacity to Ryan Specialty Underwriting Managers’ portfolio of syndicated delegated authority P/C insurance …
Smith to Replace Retiring Gunn as Deputy Commissioner at ALDOI
The Alabama Department of Insurance has promoted Dusty Smith to the role of deputy commissioner, replacing Jimmy Gunn, who is retiring after 36 years at the department. Smith, a former insurance agent, joined the department in 2011 and has served …
Containment Grows on Wildfires That Forced Evacuations, Destroyed Buildings
Firefighters are slowly gaining on several wildfires burning in the foothills of the Sierra Nevada area, forcing evacuations and destroying buildings in a historic mining town. The TCU September Lightning Complex fires, which were started by numerous lightning strikes that …
RBC BlueBay Says ESG Is ‘Extremely Important’ for Investors
Even after more than three years of Republican-led attacks against environmental, social and governance investing, the strategy is still “extremely important,” according to RBC BlueBay Asset Management. “Focusing on ESG as part of your investment framework can genuinely help you …
Apollo Settles Fight With Ex-Athene Executives Before Trial
Apollo Global Management Inc. resolved a lawsuit against two former executives of insurance unit Athene Holding Ltd. just days before the matter was set to go to trial. In a Wednesday filing in New York state court, the private equity …
Publisher Gannett Wins Dismissal of Nearly All of Journalists’ Job Bias Lawsuit
Gannett, the largest U.S. newspaper publisher, won the dismissal of most of a lawsuit, including all class action claims, alleging its diversity policies led to widespread discrimination against white journalists. U.S. District Judge Rossie Alston said on Wednesday the plaintiffs …
People Moves: Judd Joins AXA XL Energy
Judd Joins AXA XL Energy Underwriting Team AXA XL, in Stamford, Connecticut, hired Eric Judd as an executive underwriter on its energy underwriting team in the Americas in New York. With more than three decades of experience in the insurance …
Trump to Ask Supreme Court to Toss Carroll’s $5 Million Abuse and Defamation Verdict
President Donald Trump will soon ask the Supreme Court to throw out a jury’s finding in a civil lawsuit that he sexually abused writer E. Jean Carroll at a Manhattan department store in the mid-1990s and later defamed her, his …
Mass. Orders Insurers to Cover State-Backed Vaccines, Even Without CDC Support
Massachusetts Governor Maura Healey said Thursday the state had ordered insurers to cover vaccines backed by its health department, even if the U.S. Centers for Disease Control and Prevention issue narrower recommendations. Insurers would no longer rely solely on CDC …
People Moves: Alliant Human Capital Names Muller as Vice President
Alliant Human Capital, a division of Alliant Insurance Services, announced the appointment of Brian Muller as Vice President. Muller brings more than 15 years of experience in both corporate and consulting HR, with a proven track record of delivering innovative …
Cultivated Meat Companies Sue Texas Over Its Lab-Grown Meat Ban
Two cultivated meat companies have filed a lawsuit against officials in Texas over the law that bans the sales of lab-grown meat in the state for two years. California-based companies UPSIDE Foods, which makes cultivated chicken, and Wildtype, which makes …
Minnesota Governor to Call Special Session on Gun Laws After School Shooting
Minnesota Gov. Tim Walz plans to call a special legislative session to consider tougher gun laws following a shooting last week at a Catholic school in Minneapolis that left two children dead and 21 people injured. The Democrat told reporters …
Tesla Says Its Robotaxi App Now Open to Public Riders
Tesla Inc. said it has opened its robotaxi app to the general public, suggesting the company will soon roll out the service beyond a select group of early access users in Austin, Texas. The company’s Tesla Robotaxi account on social …
Insured Losses in Texas Exceed $47 Billion in 2024
Insured losses exceeded $47.2 billion in Texas last year—a 4.2% increase over 2023, according to a new property and casualty market report from the state’s insurance council. Annual direct losses in Texas have now increased in two consecutive years. Broken …
FTC to Review AI Chatbot Risks With Focus on Privacy Harms
The US Federal Trade Commission plans to study the harms to children and others of AI-powered chatbots like those offered by OpenAI, Alphabet Inc.’s Google and Meta Platforms Inc., according to people familiar with the matter. The study will focus …
People Moves: Everest Promotes Voralia as CUO, Global Reinsurance; BHSI Appoints Spink as Head of Marine, Australasia
This edition of International People Moves details appointments at Everest Reinsurance and Berkshire Hathaway Specialty Insurance (BHSI). A summary of these new hires follows here. Everest Promotes Voralia as CUO, Global Reinsurance Everest Reinsurance, the reinsurance division of Everest Group …
NY Fed Finds Modest Impact of AI on Jobs Even as Usage Increases
Use of artificial intelligence among businesses jumped in the last year and is expected to continue to grow, yet few firms have cut jobs as a result so far, according to a new Federal Reserve Bank of New York study. …
Markets/Coverages: AXA XL Launches Portal for Multinational Clients
AXA XL has launched a web-based portal for its global clients, providing a centralized platform which allows data insights across multinational solutions portfolios to be viewed and exported in real-time. The portal, which is available via AXA’s Digital Commercial Platform, …
Alabama DOI Extends Moratorium on New Captives, Risk Retention Groups
Alabama’s insurance commissioner has extended a moratorium on new captive insurance companies and risk retention groups until at least next summer. The bulletin, posted this week, follows the commissioner’s announcement in March that the Department of Insurance would not accept …
Head of EU Parliament Trade Committee Has ‘Doubts’ About Deal With US
The head of the European Parliament’s trade committee said Wednesday he has “doubts” about aspects of the EU’s trade deal with the Trump administration and predicted the deal could be amended during the legislative approval process. “A lot of questions …

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