Author: ixinda

In a landmark resolution to litigation stemming from its devastating 2023 data breach, the bankruptcy estate of former genetics-testing giant 23andMe—now operating as Chrome Holding Co.—has agreed to a $46.75 million settlement to compensate affected customers. The deal, approved by the U.S. Bankruptcy Court for the Eastern District of Missouri, resolves consolidated class-action lawsuits filed…

In the wake of the May 26 chemical tank implosion at the Nippon Dynawave paper mill in Longview, Washington—believed to be the deadliest industrial accident in state history—environmental insurance brokers across the U.S. are fielding urgent calls from manufacturers reassessing their risk coverage. The blast killed 11 workers, injured seven others and a firefighter with…

Florida’s reinsurance market is experiencing a historic turnaround, with reinsurers bringing robust risk appetite and expanded capacity to the June 2026 renewals—driven by sweeping legal reforms, stronger underwriting discipline, and measurable improvements in market fundamentals. According to Guy Carpenter’s latest report, *“June 2026 Florida Reinsurance Renewals – A Thriving Market Restoring Capital to Healthy Levels,”*…

The U.S. property/casualty insurance industry delivered its strongest first-quarter underwriting performance in at least 25 years, posting a combined ratio of 89.5 (before policyholder dividends) in Q1 2026—signifying a robust $22.1 billion underwriting gain. According to S&P Global Market Intelligence (S&P GMI), the ratio including dividends stood at 91.9, the best comparable result since 2006.…

Amid escalating maritime tensions in the Persian Gulf, commercial oil tanker traffic through the Strait of Hormuz has resumed steadily since early May 2026—despite ongoing U.S. naval operations and Iran’s intermittent enforcement of maritime restrictions. According to data from the UK-based Maritime Trade Operations (UKMTO) and satellite vessel-tracking firm MarineTraffic, over 120 laden crude oil…

Berkshire Hathaway has tapped Charlie Shamieh—current Chairman of Gen Re and a seasoned insurance executive—as its next head of insurance operations, succeeding Ajit Jain upon his retirement, according to a Wall Street Journal report cited by Reuters. The move marks a pivotal leadership transition for one of the world’s most influential insurance portfolios, coming just…

American International Group (AIG) reported a dramatic turnaround in underwriting profitability for the first quarter of 2026, with General Insurance underwriting income surging 220% year-over-year to $774 million. The robust results reflect significant improvements across all three core segments—North America Commercial, International Commercial, and Global Personal—as well as disciplined risk management, favorable reinsurance renewals, and…

State Farm paid a record $5.6 billion nationwide for hail-related insurance claims in 2025—up 12% from 2024—according to its latest annual hail claims report. Texas led all states with $1.4 billion in payouts, reflecting a 27% year-over-year surge and reinforcing its status as the nation’s most hail-impacted state. Missouri ranked second ($892 million), with payouts…

In a historic bilateral move, Japan has committed $550 billion in strategic investment into the United States—its largest-ever FDI pledge—sparking unprecedented demand across the U.S. property & casualty insurance market. Announced on July 22, 2025, the agreement targets four high-priority sectors: energy (including small modular reactors), AI-powered power generation, AI infrastructure (e.g., data centers), and…

Charter Gliman is a company of PSC Insurance Group Ltd which is an insurance brokers company listed on the Australian Securities Exchange. The company is devoted to deliver professional, high quality and value added service to customers with timely, responsive and appropriate solutions. Charter Gliman has a very solid customer base consisting of small and…