News
Important Only
Hub's Murphy warns of widening relevance gap in casualty sector
By Mia MacGregorMarch 7 - (The Insurer) - Insurers must work to close the "relevance gap" in the casualty sector, according to Carol Murphy, executive vice president and North American casualty practice leader at Hub International.Speaking on a panel about modelling and reserving for current...Reuters
Fri, Mar 7
Bulgarians convicted in UK of being Russian spies working for Wirecard fugitive
Marsalek linked to Russian intelligence services, prosecutors sayBulgarians found guilty of spying for Russia by London courtGroup targeted journalists, dissidents, and staged fake protest for RussiaBy Michael Holden and Sam Tobin LONDON, March 7 (Reuters) - Three Bulgarians were found guilty...Reuters
Fri, Mar 7
Zywave panel: Casualty market ‘exhausting’ but not in crisis
By Michael LoneyMarch 7 - (The Insurer) - The casualty market remains in a protracted period of rising rates although there is differentiation by segment that is providing opportunities, said a panel at a Zywave conference.Speaking on a state of the market panel at Zywave’s Casualty Insights Confere...Reuters
Fri, Mar 7
Nasdaq plans 24-hour trading as global appetite for US stocks grows
By Manya Saini March 7 (Reuters) - Nasdaq Inc NDAQ.O plans to introduce 24-hour trading on its flagship U.S. exchange to capitalize on growing global demand for U.S. equities, a senior executive said in a social media post on Friday.International demand for the lucrative U.S. equity market has su...Reuters
Fri, Mar 7
Canada's Scotiabank CEO pay rises by 27% after strong year
March 7 (Reuters) - Bank of Nova Scotia BNS.TO raised CEO Scott Thomson's salary by about 27% to C$9.76 million ($6.80 million) in 2024, according to a proxy circular released by the Canadian lender on Friday. The move is in line with the country's banking peers like Royal Bank of Canada RY....Reuters
Fri, Mar 7
REFILE-Gallagher says AssuredPartners deal now slated to close in H2 amid antitrust review
By David BullMarch 7 - (The Insurer) - Arthur J Gallagher said it has received a request for additional information as part of a regulatory antitrust review into its proposed acquisition of AssuredPartners as it pushed back the expected close of the transaction from Q1 to the second half of 2025.In ...Reuters
Fri, Mar 7
U.S. Likely To Ban Chinese App Deepseek From Government Devices - WSJ
March 7 (Reuters) - U.S. LIKELY TO BAN CHINESE APP DEEPSEEK FROM GOVERNMENT DEVICES - WSJTRUMP ADMINISTRATION ALSO CONSIDERS BROADER MEASURES AGAINST DEEPSEEK OVER NATIONAL-SECURITY CONCERNS - WSJSource text: https://tinyurl.com/5n86uff3Reuters
Fri, Mar 7
US reciprocal tariffs will impose one rate per country, White House adviser says
WASHINGTON, March 7 (Reuters) - President Donald Trump's reciprocal tariffs planned for April 2 will impose one rate for each country that will reflect tariffs and non-tariff measures imposed on the U.S., White House trade adviser Peter Navarro told CNBC in an interview on Friday."The concep...Reuters
Fri, Mar 7
INSIGHT-DOGE job cuts bring pain to Trump heartland
By Nathan Layne and Aleksandra Michalska PARKERSBURG, West Virginia, March 7 (Reuters) - Jennifer Piggott proudly hung a red-and-blue Trump campaign flag outside her one-story home during the November election race. Now, after she was abruptly fired from her civil service job, her days of support...Reuters
Fri, Mar 7
LDI says Liberty Mutual owes $4 million to LA policyholders after overcharging assessment
By Mia MacGregorMarch 7 - (The Insurer) - Liberty Mutual owes approximately $4 million to about 138,000 Louisiana policyholders after overcharging the Louisiana Citizens Property Insurance Corporation Emergency Assessment for the past four years, according to the state's insurance commissioner T...Reuters
Fri, Mar 7
Soccer-Arsenal’s Arteta looks ahead to Manchester United test with confidence
LONDON, March 7 (Reuters) - Arsenal manager Mikel Arteta praised Manchester United's character and legacy ahead of Sunday's clash while highlighting the boost his side got from their midweek 7-1 Champions League win at PSV Eindhoven as the key to maintaining momentum.Arteta's second-plac...Reuters
Fri, Mar 7
MercadoLibre plans $3.4 billion Mexico investment in 2025
MEXICO CITY, March 7 (Reuters) - Latin American e-commerce giant MercadoLibre MELI.O will invest $3.4 billion in Mexico this year, focusing on its tech product and financial services, an executive from the firm said on Friday."This figure represents a 38% increase compared to our investment last...Reuters
Fri, Mar 7
Hippo in talks with regulator about increasing writings in California
By Chris MunroMarch 7 - (The Insurer) - Hippo is in discussions with California’s Department of Insurance as it considers writing more homeowners business in the state, with CEO Rick McCathron stating that following the wildfires there is an opportunity to assume more risk provided it is properly pr...Reuters
Fri, Mar 7
US likely to ban Chinese app DeepSeek from government devices, WSJ reports
March 7 (Reuters) - The White House is weighing measures to restrict Chinese artificial-intelligence company DeepSeek, including banning its chatbot from government devices because of national security concerns, the Wall Street Journal reported on Friday, citing people familiar with the matter.Reuters
Fri, Mar 7
Canada court approves $23 billion settlement to end Big Tobacco lawsuits
March 7 (Reuters) - A Canadian court approved a plan to settle long-running tobacco lawsuits in the country as part of which the units of three Big Tobacco companies will pay C$32.5 billion ($22.67 billion), Philip Morris and British American Tobacco said on Friday.The settlement resolves lawsuits —...Reuters
Fri, Mar 7
WR Berkley adds Liberty Mutual's Kidd as executive vice president
By Isha MaratheMarch 7 - (The Insurer) - WR Berkley Corporation has hired Heath Kidd, former vice president at Liberty Mutual, as executive vice president, effective immediately. Kidd has over 30 years of experience in the industry. Before his most recent five-year term at Liberty as vice president...Reuters
Fri, Mar 7
ProFinity unveils new faulty workmanship liability extension
By Chris MunroMarch 6 - (The Insurer) - ProFinity Insurance Services has brought a new faulty workmanship liability coverage to market, with the offering targeted at artisan contractors and backed by A-rated capacity.The new coverage extension works in tandem with ProFinity’s SME contractor-focused ...Reuters
Fri, Mar 7
Munich Re Specialty’s Ansari: Pursuing a valued career
By George AbbottMarch 7 - (The Insurer) - Bazil Ansari, senior portfolio solutions underwriter at Munich Re Specialty, is part of a relatively small cohort of industry professionals who actually planned to go into insurance, as opposed to “falling into it” – something we hear all too often on Young ...Reuters
Fri, Mar 7
Microsoft developing AI reasoning models to compete with OpenAI, The Information reports
March 7 (Reuters) - Microsoft MSFT.O is developing in-house artificial intelligence reasoning models to compete with OpenAI and may sell them to developers, The Information reported on Friday, citing a person involved in this initiative.The Redmond, Washington-based company, a major backer of OpenAI...Reuters
Fri, Mar 7
INSIGHT-DOGE job cuts shake Trump-voting West Virginia town
By Nathan Layne and Aleksandra Michalska PARKERSBURG, West Virginia, March 7 (Reuters) - Jennifer Piggott proudly hung a red-and-blue Trump campaign flag outside her one-story home during the November election race. Now, after she was abruptly fired from her civil service job, her days of support...Reuters
Fri, Mar 7
