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Medfluence Advisors wins Gold Viddy Award with 'The Pronunciation' Healthcare Marketing Video Series

Medfluence Advisors was honored with a 2023 gold Viddy Award for their video series "The Pronunciation." Garnering over 7.2 million views on YouTube, this campaign exemplifies the company's forward-thinking strategy in healthcare marketing.

AAA Announces New Four Diamond Hotels and Restaurants Across North America

Five hotels and one restaurant have recently been added to AAA's prestigious Four Diamonds list, signifying excellence in cleanliness, comfort, cuisine, and consistency. Among the new additions are the Paradox Hotel and the AZUR Legacy Collection Hotel in Vancouver, British Columbia, Canada, as well as the Luminary Hotel & Co. in Fort Myers, Florida. Additionally, the Aguascalientes Marriott Hotel in Mexico and the Hotel Riu Palace Pacifico in Nuevo Vallarta, Nayarit, Mexico have also earned the Four Diamond designation.Mixtli, a restaurant in San Antonio, Texas, has also...

Nationwide Chosen as Puget Sound Kidney Centers’ 403(b) Plan Provider

Puget Sound Kidney Centers has selected Nationwide Retirement Solutions to provide recordkeeping and education services for its 403(b) deferred retirement contribution plans, which boast over $25 million in assets under management and around 440 plan participants.“Our highest priority when choosing a new retirement services provider was ensuring that our employees have an excellent experience,” said Tom DeBord, President & CEO for Puget Sound Kidney Centers.In addition to recordkeeping and administrative services, Nationwide will offer participants holistic financial...

Gas Prices March Higher with the Arrival of Spring

WASHINGTON, D.C. (March 21, 2024)—The national average for a gallon of gas rose 11 cents since last week to $3.52. While domestic gas demand has been lackluster, rising oil prices helped push pump prices higher. The Midwest may see a bit of a price reprieve, as the large BP Whiting refinery in Indiana is back up and running after being down since February 1st."Gas prices are a lot like seasonal temperatures. They start to rise with the arrival of spring," said Andrew Gross, AAA spokesperson. "And the national average for gas is now higher than a year ago, which we have...

Pool Re CEO 'confident' as UK terrorism reinsurer faces pivotal vote on future

State-backed UK terrorism reinsurer Pool Reinsurance Co. Ltd. is "very confident" that its members will vote in favor of fundamental changes to how it is run. The changes, which include shifting to catastrophe treaty-style reinsurance coverage from the current facultative model, are part of Pool Re's remit to return more risk to the private insurance market, which is a condition of its unlimited guarantee from the UK government. Pool Re is classified as an arms-length body of the UK Treasury department."The government support for the scheme ... sits as a cornerstone for...

Allstate Announces February 2024 Catastrophe Losses and Implemented Rates

NORTHBROOK, Ill., March 21, 2024 – The Allstate Corporation disclosed that their "estimated catastrophe losses were below the $150 million reporting threshold for February 2024." The company also revealed that "Rate increases for Allstate brand auto insurance resulted in a premium impact of 0.1% for the month of February and 1.5% year-to-date," as well as stating that "Rate increases for Allstate brand homeowners insurance have resulted in a premium impact of 2.4% for the month of February and 2.7% year-to-date." Additionally, they mentioned that "Implemented rate increases...

UK insurance M&A the outlier as EMEA deal volume falls in 2023

Mergers and acquisitions in the UK insurance industry saw a rise in 2023, contrasting with a broader slowdown in deal activity across Europe, the Middle East, and Africa. According to S&P Global Market Intelligence data, "there were 156 acquisitions of UK insurance targets last year, up from 130 in 2022."While deal numbers across EMEA decreased, the UK stood out as the most active M&A market in the region. The main driver behind the UK's volume was broker M&A, with a large number of small brokers and larger groups pursuing buy-and-build strategies. Notable deals included...

Save the Date: Triple-I and International Insurance Society Joint Industry Forum in Miami

The Insurance Information Institute (Triple-I) has announced that it will hold its 2024 Joint Industry Forum (JIF) in Miami, Florida, on Tuesday, Nov. 19, and Wednesday, Nov. 20. The event will focus on providing expert perspectives on the state of the insurance industry under the theme Solutions for a New Age of Risk.Triple-I's CEO, Sean Kevelighan, emphasized the importance of updating assumptions and priorities for risk and insurance professionals, stating, “Senior risk and insurance professionals need to continuously update their assumptions and priorities, and...

2023 US life statutory results: Individual annuity growth hits 21-year high

According to estimates from S&P Global Market Intelligence, individual annuity direct premiums and considerations surged by 21.8% in 2023, marking a third straight year of double-digit growth. The most substantial annual growth rate for this product category since 2002."A resilient domestic economy, rising interest rates, and ample supply of attractive products led to outsized expansion in individual annuities during a year of otherwise mixed growth in business volumes for the US life insurance industry." - S&P Global Market IntelligenceThe top six individual entities...

Whiskers & Widgets: Inside Nationwide’s AI-Infused Pet HealthZone

On March 19, 2024, Nationwide introduced a groundbreaking digital resource, the Pet HealthZone, powered by generative artificial intelligence (Gen AI), aimed at providing pet owners with valuable insights into their pets' health. Dr. Emily Tincher, Nationwide’s senior director of pet health, and Melanie Kolp, Nationwide’s senior vice president and chief technology officer of technology strategy, data and innovation, shed light on the functionality of this innovative platform.The Pet HealthZone leverages over 40 years of pet insurance data to offer pet owners personalized...

Fla. Property Insurers See Positive Turnaround in 2023

Florida domestic residential property insurers saw a positive financial turnaround in 2023 after seven years of struggling. According to an analysis by S&P Global Market Intelligence, the group of around 50 insurers reported a net income of $147.3 million for the year, marking a significant improvement from previous years of losses exceeding $1 billion.One of the key factors contributing to this improvement was a notable increase in investment income and better underwriting results. Additionally, the industry benefited from a mild hurricane season and saw a rise in...

JPMorgan Chase partners with Academy Museum of Motion Pictures

JPMorgan Chase has announced a partnership with the Academy Museum of Motion Pictures. As a result of the partnership, the financial institution, headquartered in New York City, will sponsor select temporary exhibitions, the museum's regular feature, and community related events.

It’s Not Too Late to Plan a Road Trip for the Eclipse

WASHINGTON, DC (March 18, 2024) – Even though many eclipse enthusiasts have had April 8, 2024 marked on their calendars for years, there are some people who are just now deciding they want to experience this natural phenomenon in person. If this is you, it’s not too late.According to AAA booking data, Dallas, Austin, and San Antonio are the most popular cities along the path of totality for the upcoming eclipse on April 8, 2024. Indianapolis, Cleveland, and Buffalo are also top eclipse-viewing destinations, with Dallas experiencing a significant increase in reservations...

California insurance regulator to greenlight wildfire cat models

Property and casualty insurers doing business in California will be able to expand their use of catastrophe modeling under a new proposal from the state regulator. The California Department of Insurance is proposing that insurers be permitted to use catastrophe models that include wildfire, terrorism, and flood lines for both homeowners and commercial insurance lines.The proposal, which is the second element of the regulator's Sustainable Insurance Strategy introduced by Insurance Commissioner Ricardo Lara, aims to revise what can be included in catastrophe modeling. This...

S&P webinar: Persisting volatility could weigh on APAC insurers' profitability

Amidst persisting volatility in capital markets, insurers in the Asia-Pacific region are facing uncertainties over earnings, prompting them to actively manage their investments. According to S&P Global Ratings analysts, 98% of rated insurers in Asia-Pacific have a stable outlook, but the ongoing market fluctuations are impacting profitability.Lead analyst Wenwen Chen highlighted that insurers in the region are reassessing risk-return balances and becoming more selective due to credit stresses, particularly in real estate and alternative investments. Chen also noted that...

Heritage, American Coastal Get Boosts from Strategy Shifts, Tame Weather

Shares of Heritage Insurance Holdings and American Coastal Insurance Corp., two Florida-based homeowners' insurers, have experienced significant increases in their stock prices as a result of strategic shifts and favorable weather conditions. Heritage Insurance Holdings' share price has surged by 115.9% to $7.86, while American Coastal Insurance Corp. has seen a remarkable 438.1% increase to $10.60.Heritage Insurance Holdings announced a strategic focus on commercial lines and the excess and surplus market, leading to its stock price rise. Similarly, American Coastal...

Japanese life insurers on track to achieve fiscal 2023 profit forecasts

Japanese life insurers Dai-ichi Life Holdings Inc., T&D Holdings Inc., and Japan Post Insurance Co. Ltd. are all making significant progress towards achieving their annual profit forecasts for the fiscal year ending March 30, 2024.Dai-ichi Life Holdings Inc. reported a remarkable 42.1% year-over-year growth in net income, attributing the increase to various positive factors. The company stated, "The improvement in T&D Holdings' nine-month profit was largely due to a 'reactionary decline' in large temporary valuation losses related to Fortitude, a foreign reinsurance...

NAIC head: Federal role, climate, AI on state insurance regulatory agenda

State insurance regulators are willing to work with the federal government but continue to maintain that they are best positioned to oversee the industry. The National Association of Insurance Commissioners (NAIC) is prioritizing mitigation to deal with the impacts of a changing climate. Insurers must be ethical and transparent in how they utilize artificial intelligence so as to not perpetuate bias.Connecticut Insurance Commissioner Andrew Mais, in his capacity as both president of the NAIC and a state regulator, discussed various pressing issues including the role of...

State Farm® Announces Jon Farney as New CEO

State Farm President Jon Farney has been selected as the company’s next Chief Executive Officer by the State Farm Mutual Board of Directors. Farney will formally begin his role on June 1. The announcement was shared by Chairman and retiring CEO Michael Tipsord, who expressed his confidence in Farney's abilities. Tipsord stated, “Jon and I have worked together for many years. I’ve seen how much he cares about State Farm, how much he cares about the people at State Farm, how he solves problems, and how focused he is on taking care of our customers.”Farney, who joined State...

Prominent life and health insurer to revisit possible mutual holdco formation

Mutual of Omaha Insurance Co. has announced its plans to explore the formation of a mutual insurance holding company (MIHC), as confirmed in its 2023 annual statement. The company stated that it is undertaking this exploration to fully understand the structure's requirements and potential consequences, without establishing a specific timeline for the process.The potential MIHC formation would enable Mutual of Omaha to maintain its policyholder ownership structure while enhancing its access to external sources of capital. This move reflects the company's strategic...