This edition of International People Moves details appointments at Liberty Mutual Reinsurance and IQUW Bermuda. A summary of these new hires follows here. Liberty Mutual Re Taps Aldwinckle From AXA XL Re as CUO, International Casualty Liberty Mutual Reinsurance (LM …
Category: Insurance Journal
After $7M in Local Incentives, Alfa Launches Renovation of New HQ in Montgomery
Alfa Insurance is moving into new headquarters in Montgomery, Alabama. But first, the space has to be renovated, the insurer said in news release last week. Alfa, one of the largest property insurers in Alabama, and its sister organization, the …
ExxonMobil Sues California, Claims New Green Laws Violate Speech
ExxonMobil Corp. has sued California, arguing that two new state laws violate the First Amendment by trying to force it to agree to a certain climate viewpoint, and conflict with federal regulations. The lawsuit, filed Friday, alleges that the two …
Alabama DOI Requiring Use of SLIP+ Platform for Surplus Lines Reporting
Alabama has become the seventh state to adopt the “SLIP+ for States” reporting and payment platform for surplus lines data and taxes, starting in 2025. Surplus lines brokers who already have a SLIP+ login do not need to register for …
Suspects in Louvre Heist in Custody After Week-Long Manhunt
French authorities have arrested several suspects after a frantic manhunt for the men who staged a spectacular daytime heist at the Louvre museum that gripped the world and embarrassed the government in Paris. The Paris prosecutor’s office confirmed the arrests …
Update: Hurricane Melissa Churns Toward Jamaica as Category 5 Storm
Hurricane Melissa plowed toward Jamaica as a powerful Category 5 storm, threatening to bring widespread destruction to the island. Melissa’s top winds reached 160 miles (257 kilometers) per hour, the US National Hurricane Center said in an advisory at 8 …
HSBC to Take $1.1 Billion Hit After Luxembourg Court Ruling in Madoff Case
HSBC Holdings said on Monday it would book a $1.1 billion provision in its third-quarter results after losing part of an appeal in a long-running lawsuit tied to Bernard Madoff’s Ponzi scheme, history’s biggest ever such fraud. HSBC acted as …
HK Startup Aims to Launch Satellites for 3D Wind Data, SCMP Says
Hong Kong startup Stellerus aims to create a constellation of satellites to become the world’s first provider of three-dimensional wind data provided by the devices, according to the South China Morning Post. Stellerus, founded in 2023 by Hong Kong University …
AM Best Revises Outlooks to Stable for Members of Illinois’ Pekin Insurance Group
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of The Farmers Automobile Insurance Association, its wholly owned …
Hacking Lab Boss Charged With Seeking to Sell Secrets
A director at a company that sells computer vulnerabilities has been charged with stealing secrets to sell to an unspecified buyer in Russia, according to a court document and people familiar with the matter. Peter Williams was accused of stealing …