Insurance House UAE

Nationwide | February 12, 2020

The chief executive of major US auto insurer Nationwide has announced that the company is calling on state legislators to consider “hands-free” laws to curb the growing problem of mobile phone-related distracted driving. Hands-free legislation permits drivers to only use hands-free mobile phone technology while driving – it is hoped that this measure would keep drivers’ attention on the road instead of their phones. “The National Safety Council tells us that 1 in 4 ...

LIFE INSURANCE

Chubb | July 04, 2022

The personal accident, supplemental health, and life insurance businesses of Cigna (NYSE: CI) in six Asia-Pacific markets are housed in the life and non-life insurance firms that Chubb Limited (NYSE: CB) has completed its acquisition of. The businesses, which include Cigna's accident and health (A&H) and life business in Korea, Taiwan, New Zealand, Thailand, Hong Kong, and Indonesia, were purchased by Chubb for $5.36 billion. The final acquisition price was less than the first announceme...

INSURANCE TECHNOLOGY

Intact Insurance | June 18, 2022

Intact Insurance Group USA LLC (Intact), doing business under the brand name Intact Insurance Specialty Solutions, announced today that it has entered into a definitive agreement to acquire Highland Insurance Solutions ("Highland"), the U.S. construction division of Tokio Marine Highland (TMH), from Tokio Marine Kiln (TMK). Highland is a managing general agent specializing in the builders risk segment of the construction market, and will expand Intact's portfolio of owned distribut...

State Farm | January 30, 2020

State Farm, the number-one auto insurer in the US for decades, may soon be playing second fiddle to GEICO. After losing business in the wake of a series of rate hikes, State Farm held a market share of 17% in 2018 – its lowest share in more than two decades, according to a report by Crain’s Chicago Business. Online insurer GEICO, meanwhile, held 13.4% of the market. If the two companies’ average growth rates persist, GEICO will overtake State Farm as the nation’s largest ...