* Lloyd's of London has re-appointed Bruce Carnegie-Brown for a third term as chairman, effective June 2022 and running to June 2025. has joined the Net-Zero Insurance Alliance, an initiative aimed at achieving net-zero greenhouse gas emissions in insurance underwriting portfolios by 2050. The transaction is expected to close in the second half of 2022, subject to customary regulatory approvals. construction division to Intact Insurance Group USA LLC. announced the sale of Tokio Marine Highland's U.S. Senate Banking Committee expressed mixed views on the Federal Emergency Management Agency's proposal for overhauling the National Flood Insurance Program that calls for dropping coverage for frequently flooding properties and denying coverage for homes in the most flood-prone areas, The Wall Street Journal reported. directors and officers insurance market logged $2.69 billion in direct premiums written in the first quarter, a slight increase from $2.66 billion a year earlier, according to an S&P Global Market Intelligence data analysis. ➤ US D&O insurance industry direct written premiums see modest growth YOY in Q1 It expects to record estimated pretax costs including impairments of approximately $750 million to $800 million attributable to leased space, inclusive of the cost to decommission space and lease termination fees, and $750 million to $850 million attributable to owned real estate. Also, the company has initiated a reduction of its real estate footprint. has increased its premium and service revenues guidance range by $2.0 billion to a new range of $134.3 billion to $136.3 billion and has increased its adjusted diluted EPS guidance range by 15 cents to between $5.55 and $5.70. During the month, the Allstate brand implemented rate increases of 9.3% across 13 locations, resulting in total Allstate brand insurance premium impact of 0.7%. May catastrophe losses included 14 events, primarily wind and hail in Texas, the Midwest and Canada, estimated at $423 million, plus unfavorable reserve reestimates for prior period events. ![]() announced estimated catastrophe losses for May of $436 million, or $344 million after tax. The receivership comes a couple of weeks after Demotech withdrew the financial stability rating of Southern Fidelity. A Leon County, Fla., Circuit Court judge has ordered the state's Department of Financial Services to act as receiver of Southern Fidelity. has been placed under receivership and is being liquidated.
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