The Florida Office of Insurance Regulation has issued subpoenas to Weiss Ratings and its founder Martin Weiss for information related to its recent reports about the financial stability of the state’s insurance carriers.

Morgan Stanley analysts have suggested that multiple developments during the third quarter mean the investment thesis for the P&C space has become less clear, with more questions than answers.

Arthur J Gallagher has acquired Shepard Insurance Group, a retail insurance broker based in Old Greenwich, Connecticut.

Florida insurance commissioner Mike Yaworsky has underlined the stability of the state’s property insurance market, pointing to rating upgrades for three Florida special tax bonds.

Geico and Travelers Indemnity Company have been fined $9.75mn and $1.55mn, respectively, for lax data security practices that led to the exposure of 120,000 New Yorkers’ personal information that hackers used to file fraudulent unemployment claims in the Covid-19 pandemic.

Oak Group has secured backing from Bain Capital and will commence underwriting this week with a planned expansion into Bermuda and the US on the horizon in addition to its start-up Lloyd’s syndicate, The Insurer understands.

Pennsylvania-based Yurconic Agency, which is a platform partner of Keystone Agency Partners (KAP), has acquired WR Sims Agency, based in Williamsport, Pennsylvania.

November 25 (Reuters) by Jonathan Stempel – Warren Buffett, the legendary investor and chairman of Berkshire Hathaway, has made further preparations for giving away his fortune after his death.

MGA Sola has launched a parametric insurance product for US homeowners covering severe convective storm losses from wind and hail, underwritten by Tokio Marine Kiln (TMK).

Rental insurtech Steadily announced that it has activated its carrier, Steadily Insurance Company, which has received a financial stability rating of A, Exceptional from Demotech.

New Jersey-based World Insurance Associates has acquired North Dakota’s First International Insurance, a division of First International Bank & Trust.

Alliant Insurance Services has hired Bryan Salek and Angela Kirby as senior vice presidents to lead a new segment focused on government contractors.

Texas-based insurance, financial, and HR services firm Higginbotham has acquired Fitts Agency, a family-owned insurance agency based in Tuscaloosa, Alabama.

WTW has hired Miami-based Xabier Gallardo from Swiss Re as senior director, client relationship management within the natural resources business of corporate risk and broking, North America (CRB NA).

Bishop Street Underwriting has hired strategy and capital markets executive Jeff Arricale from The Woodlands Financial Group as its CFO as the MGA platform continues its rapid build out, Program Manager can reveal.