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Apollo Global Management has settled a lawsuit against two former executives of its insurance unit, Athene Holding, just days before the case was set to go to trial in New York. The private equity firm had accused Stephen Cernich and Huan Tseng of working to start a competing insurance company. The trial was scheduled to … Read more

Firefighters are making progress against multiple wildfires in the Sierra Nevada foothills, but the flames have already forced people to leave their homes and have damaged buildings in a historic mining town. The fires, known as the TCU September Lightning Complex, started earlier this week after a series of lightning strikes hit California. These fires … Read more

Despite years of criticism from Republican leaders, environmental, social, and governance (ESG) investing remains a key strategy, according to RBC BlueBay Asset Management. Tom Moulds, a senior portfolio manager at the firm, emphasized that focusing on ESG can actually lead to better investment results. Moulds, who works with investment-grade fixed income at RBC BlueBay, which … Read more

The Alabama Department of Insurance has named Dusty Smith as its new deputy commissioner, stepping into the role as Jimmy Gunn prepares to retire after more than three decades with the department. Smith, who started with the department in 2011, has been managing the consumer services division since 2019. Beginning next year, he will take … Read more

Small businesses across the U.S. face growing risks from cyberattacks, and experts say now is the time to take action. Cybercriminals are getting smarter and targeting smaller companies, which often lack the resources to protect themselves. The costs of these attacks add up fast, with the average breach costing close to $17,000—a number that has … Read more

Nonprofits across the United States are facing increasing challenges getting insurance coverage as many carriers pull back from the market. Pamela Davis, founder and CEO of Nonprofits Insurance Alliance (NIA), says this shift leaves organizations vulnerable just when they need support the most. According to Davis, insurance companies are losing interest in nonprofit coverage because … Read more

Gallagher Re, the global reinsurance broker and part of Arthur J. Gallagher, has agreed to buy Steadfast Re Pty Ltd., a Sydney-based reinsurance brokerage. The deal aims to strengthen Gallagher Re’s presence in Australia and is expected to close in the last quarter of 2025. Financial details of the transaction were not shared. Mark O’Brien, … Read more

Lloyd’s reported a mixed set of results for the first half of 2025, showing a significant drop in its underwriting profits but maintaining an overall solid financial position. The market’s underwriting profit fell by half to £1.5 billion ($2.0 billion), down from £3.1 billion ($4.2 billion) in the same period last year. This decline was … Read more

Ryan Specialty has launched a new reinsurance vehicle called Ryan Alternative Capital Re, Ltd., or RAC Re. This new setup aims to add extra reinsurance capacity to Ryan Specialty Underwriting Managers’ portfolio, supporting their line of property and casualty insurance business. RSUM, the division behind this, handles delegated underwriting within Ryan Specialty. The CEO of … Read more

Cyber insurance is booming, but it’s not without challenges, according to John Coletti, head of large market underwriting at Coalition. The market is growing fast, now seen as a key insurance product that catches the attention of top executives. What once looked like a niche sector has become a major force, with the global market … Read more