Author: completebodyneeds

Latin American non-life insurers are moving into a softer part of the cycle, but they are doing so from a position of relative strength. After two years of pricing adjustments in response to the effects of the pandemic and the inflation shock that followed, the industry is still posting positive margins across much of the region, supported by lower claims frequency in key lines, conservative investment portfolios and reinsurance conditions that remain favorable for cedents. Fitch Ratings maintains a neutral global outlook for the insurance sector, reflecting its view that insurers remain resilient despite market volatility, slower economic growth, persistent…

To establish an operational presence in the U.S., reinsurance broker Willis Re on Aug. 18 said it is acquiring BMS Re, US. The deal includes BMS Intermediaries Inc. and BMS Capital Advisory LLC, as well as the associated US reinsurance broking team based in London. Terms were not disclosed. Independent reinsurance platform BMS Re, US, part of BMS Group, is focused on property/casualty, with expertise in complex lines including property catastrophe, medical malpractice and workers’ compensation. It offers reinsurance and capital solutions with local market expertise, and a strong client base across regional and superregional carriers, and MGA and programs.…

Data center developers are turning to bespoke natural-gas power plants, a development that promises to dramatically increase carbon emissions and make it harder for US technology companies to meet their lofty climate goals. Ninety-nine proposed plants tracked by BloombergNEF would emit about 318 million metric tons of carbon dioxide annually if run at industry-standard rates, according to a Bloomberg News analysis. The entire US electric power industry emitted about 1,485 million metric tons of carbon last year, according to Energy Information Administration data, meaning one slice of data center infrastructure has the potential to lift US power sector emissions by…

A second suspect accused of taking part in the 2022 Nord Stream gas pipeline blasts has been arrested in Croatia and will be extradited to Germany, said German prosecutors on Wednesday. In its statement, the federal prosecutors’ office identified the Ukrainian national only as Vladimir Z., adding he was arrested in the seafront Croatian city of Pula by local police forces who acted on a European arrest warrant. Prosecutors had brought criminal charges in July against another Ukrainian, former army officer Serhii K., for involvement in the blasts, accusing him of acting on behalf of Ukrainian state entities. Read more:…

Canadian financial institutions and funds have amassed roughly C$500 billion ($360 billion) of exposure to private credit, most of it outside the country, according to new research from the central bank. The bulk of the activity is in the US and is driven by pension funds and insurers, the Bank of Canada paper said. The data underscores how the nation’s biggest investors have become increasingly significant players in lending directly to companies abroad, but they haven’t displaced traditional sources of corporate financing at home. Large Canadian pension funds held C$215 billion of private credit at the end of last year,…

Estonian authorities are investigating potential Russian involvement in a fire that broke out at a building used by defense company Milrem Robotics, according to Prime Minister Kristen Michal. The prosecutor’s office said on Tuesday it suspected an arson attack at the facilities of the UAE investor-backed manufacturer of autonomous combat vehicles with close ties to Ukraine. “One version being checked is that it may have been an act of sabotage and that Russia was behind the arson,” Michal said in a Facebook post. “If the purpose of this act was to intimidate Estonia, to put our people at odds with…

This article is part of a sponsored series by Vertafore. If you’ve evaluated new technology recently, you’ve likely noticed how quickly “AI-powered” capabilities become part of the conversation. From automated emails to workflow triggers to renewal reminders, many capabilities are grouped together. In practice, they serve different roles and are designed to address different types of work. When automation and AI are treated interchangeably, teams either expect too much from the tools they already have or miss opportunities to get more value from them. In an industry where efficiency, accuracy, and responsiveness directly impact growth, that misunderstanding can quietly hold…

Pennsylvania Governor Josh Shapiro on Tuesday signed an executive order that would require companies setting up AI data centers in the state to meet environmental and transparency safeguards and secure local community approval for the projects. The state has become a sought-after location for data centers due to its abundant natural gas from the Marcellus shale basin, existing power infrastructure and proximity to major population centers on the East Coast. But opposition to the rapid build-out of data centers has steadily grown across the U.S. this year. A June Reuters/Ipsos poll found that only a third of Americans approved of…

There’s a flurry of construction in Pacific Palisades, more than a year and a half after a wildfire ravaged the Los Angeles enclave in the most destructive blazes in Southern California history. There’s also a lot of frustration. At the community’s core, the luxury Palisades Village shopping center reopens Saturday after a $100 million restoration by billionaire developer Rick Caruso, marking a milestone in the area’s recovery. Partially dressed mannequins stand in the A.L.C., Brunello Cucinelli and Elysewalker boutiques. The Erewhon has stocked fresh produce for its signature smoothies. The freezers are chilled at McConnell’s Fine Ice Creams. “It’s a…

The Alabama Supreme Court has opened the window a little wider into insurance carriers’ claims-handling procedures, not only requiring them to be made available in some lawsuits but also to be shared with plaintiffs’ lawyers in similar litigation. The high court’s decision, in a side issue in Foor vs. State Farm, tempered a lower court’s order requiring State Farm to share closely held and trade-secret information on how damage estimates are revised or reduced. The Bullock County Circuit Court’s 2025 decision, in a homeowners’ roof claim dispute, is the latest skirmish in the years-long, multi-state war of words between adjusters…