Sophia Langley

PIB Group, a specialist insurance intermediary supported by Apax and The Carlyle Group, has made an important move by acquiring Litica, a Managing General Agent (MGA) focused on litigation insurance. This acquisition, announced on March 10, 2025, is a significant step for PIB as it aims to strengthen its presence in the growing litigation insurance … Read more

A serious incident occurred in the North Sea this morning when a tanker carrying 18,000 tonnes of jet fuel for the US military was struck by a container ship. The collision triggered explosions and a large fire, prompting a major rescue operation involving 37 crew members from both vessels. The accident took place shortly before … Read more

A new round of tariffs is set to impact the U.S. insurance industry, particularly for homeowners and auto insurance. On March 4, 2025, President Donald Trump announced a 25% tariff on imports from Canada and Mexico. This decision is expected to create significant challenges for insurers, as noted by AM Best, a credit rating agency … Read more

South Carolina business owners are grappling with rising insurance costs, largely due to the state’s personal injury lawsuit laws. Many entrepreneurs, like Josh Painter from Kirby Sanitation, report premium increases of up to 30% each year. This surge in costs is often passed on to customers, creating a ripple effect across various sectors. A significant … Read more

The global insurance protection gap has reached a staggering £1.4 trillion, which is about US$1.8 trillion. This gap reflects the difference between insured and uninsured losses in areas like life, health, natural disasters, and crop insurance. As climate risks increase and economic losses rise, the insurance industry is facing growing pressure to address this issue. … Read more

State Farm’s Challenges in the California Insurance Market: What You Need to Know State Farm General Insurance is at a critical juncture in California as it navigates regulatory challenges following the recent rejection of its emergency request for property rate increases. This situation has raised questions about the company’s future in the state and its … Read more

Specialty Risk Re Secures $50 Million in Funding to Transform the Reinsurance Landscape Specialty Risk Re (SRR), an innovative player in the reinsurance market, has successfully closed a $50 million funding round led by NMS Capital Group. This significant investment marks a pivotal moment for the newly established collateral reinsurance firm, which aims to redefine … Read more

Understanding the Risks of Digital Transformation for Healthcare Providers The healthcare sector is rapidly evolving, driven by the need for efficiency and improved patient care. As healthcare providers increasingly adopt digital services, they face a unique set of challenges and risks. This article delves into the complexities of this digital transformation, highlighting the risks involved, … Read more

Ocean International Reinsurance Company Limited: A Leader in Global Reinsurance AM Best has reaffirmed the Financial Strength Rating and Long-Term Issuer Credit Rating of Ocean International Reinsurance Company Limited (Ocean Re) at A- (Excellent) with a stable outlook. This rating reflects the company’s strong financial foundation and its ability to meet ongoing obligations to policyholders. … Read more

QBE Insurance Group’s Reinsurance Cost Reduction: A 2024 Overview QBE Insurance Group has made headlines recently with its significant reduction in reinsurance costs for the year 2024. The company reported a decrease in expenses from $4,226 million in 2023 to $3,971 million in 2024. This substantial drop reflects QBE’s strategic initiatives and effective risk management … Read more