Senate votes to extend NFIP until Dec. 20
Catastrophes, Disaster Management, P/C Insurers, P/C Legislation and Regulation, Property, Regulation
Allstate posts 97.4% CoR for Q1’25 as record gross cat losses offset by $1.1bn of reinsurance recoveries
The Allstate Corporation, a publicly held personal lines insurers in the United States, reported first quarter 2025 financial results reflecting a solid underwriting result and disciplined risk management, even in the face of severe weather events.
Chase Auto originations up 32%
Chase Auto’s originations grew year-over-year in the fourth quarter of 2023 as the bank snagged additional market share while prioritizing…
US banking heavyhitters invest $20m in low-code platform Genesis
Bank of America, BNY Mellon and Citi have invested $20 million into the low-code platform, Genesis Global.
BBVA doubles down on ChatGPT with OpenAI alliance
BBVA is rolling out ChatGPT Enterprise to its entire 120,000-strong workforce as part of a “unique and unprecedented level of collaboration” with OpenAI.
Munich Re’s 9M’24 net result rises 31% despite Q3 cat losses of €1.4bn
German reinsurer Munich Re has reported a net result of €4.7 billion for the first nine months of 2024, despite losses from natural catastrophes in the third quarter rising significantly to €1.4 billion, of which roughly €500 million relates to hurricane Helene.
Ubank expands passkeys to online banking
National Australia Bank’s digital unit Ubank has become the country’s first lender to offers customers the option to ditch passwords in favour of passkeys for both app and online banking.
OpenAI, Google pledge to build responsible AI
OpenAI and Google are among dozens of tech companies signing open letter pledging to build ethical AI.
Sustainable Finance.Live 2025 comes to a catalytic close
Charlotte O’Leary, CEO, Pensions for Purpose, brought Sustainable Finance.Live 2025 to a close with a passionate keynote on the underutilised role of pensions in the sustainability conversation – and spoke to a new, catalytic era.
Dealer incentives boost November sales amid affordability challenges
Holiday incentives boosted sales at dealerships, but affordability concerns and lower approvals challenged some market segments. Leading up to Black…
Munich Re Specialty offering contract, commercial surety bonds
Excess and Surplus Lines, Reinsurance Munich Re
PensionBee launches fossil fuel free fund
Online pension provider PensionBee has launched a fossil fuel free fund, created in partnership with Legal & General Investment Management.
Insurers expected to introduce GenAI liability exclusions: Evercore ISI
Evercore ISI expects more insurers to introduce policy language specifically excluding claims arising from generative AI (GenAI) to protect against silent coverage.
Banks expect to lose millions in interest due to Sepa Instant
Nearly half of European banks expect to lose millions in interest due to new liquidity demands under the Sepa Instant Payments regulation, but still believe the benefits of the change will outweigh the costs.