News from May 2024
By Business Daily | May 8, 2024
Nationwide’s health and well-being program receives honors
By Business Daily | May 8, 2024
The Insurance Information Institute (Triple-I) reports that Florida’s property insurance market is experiencing improvements, attributed to legislative reforms that address legal system abuse and fraud. The reforms, established in 2022 and 2023, have paved the way for stability in the market as the 2024 Atlantic hurricane season approaches.
By Business Daily | May 8, 2024
State Farm secured four of the 10 most notable calculated premium changes by US private auto insurers in the first quarter, according to an S&P Global Market Intelligence analysis. Subsidiary State Farm Mutual Automobile Insurance Co. led the pack with a 24.9% rate increase in New York, resulting in a calculated premium change of approximately $679.8 million. This marked the most impactful rate hike of the period, affecting about 1.75 million policyholders.
By Business Daily | May 7, 2024
Amazon launches Amazon.co.za in South Africa on May 7, 2024.
By Business Daily | May 7, 2024
LFI Real Estate has announced a new real estate development proposal, named "Gardens of Frankfort,” for an exclusively senior living community.
By Business Daily | May 7, 2024
Samsung Electronics America has announced the expansion of its 2024 OLED TV lineup, introducing new series and size options for consumers. The latest additions include the S85D series and expanded sizes for the S90D series, catering to a variety of preferences and lifestyles."Samsung is the #1 global TV brand for 18 years running – and, the fastest growing OLED TV brand for a reason. Samsung OLED TVs deliver vivid colors and stunning contrast – plus, they are built with advanced 4K AI upscaling that instantly transforms what you’re watching with incredibly sharp...
By A. I. Benavidez | May 7, 2024
In a year when more Americans will turn 65 in the United States than at any point in history, one-third of current retirees aged 60-65 are considering returning to work, with half citing the fear of running out of money as their top reason for doing so, according to a recent study from the Nationwide Retirement Institute®. This represents a significant retirement crisis, according to leaders participating in a panel discussion at the Milken Global Conference. The panel discussed how the financial industry can collaborate to address the challenges facing American retirees and...
By Business Daily | May 7, 2024
Assicurazioni Generali SpA's proposal to acquire the entire shareholding of its Chinese property and casualty insurance business was the largest deal in the Asia-Pacific insurance market in the first quarter, based on transaction value, according to an analysis by S&P Global Market Intelligence. The Italian insurer agreed to acquire a 51% stake in Generali China Insurance Co. Ltd. from CNPC Capital for about 774 million yuan. This transaction will make Generali the first foreign player to obtain a controlling stake in a property and casualty insurer from a single state-owned...
By Business Daily | May 7, 2024
NEW YORK, May 7, 2024 — The Goldman Sachs Group, Inc. (NYSE: GS) today announced that Rob Kaplan will rejoin the firm as Vice Chairman of Goldman Sachs and a member of the Management Committee. He will be a member of the Executive Office and will be based in Dallas.In this role, Rob will engage our clients around the world, working closely with our teams across Global Banking & Markets and Asset & Wealth Management to offer strategic advice. Rob will also draw on his experience in the public and private sectors to offer perspectives to our clients and other stakeholders...
By Business Daily | May 7, 2024
Global investment firm Carlyle (NASDAQ: CG) has invested $180 million in Zippy Shell, providing transitional capital to the US moving and storage company. The investment, in the form of preferred equity, aims to refinance existing debt and fund strategic growth initiatives, including network and fleet expansion and real estate acquisitions. This move is supported by a new first lien debt facility led by JP Morgan.
By Business Daily | May 6, 2024
Progressive Insurance® and Hello Alice have teamed up to launch a new grant program aimed at supporting small business owners across the United States. The Driving Small Business Forward grant program will award 20 recipients with a $50,000 grant each to be used towards the purchase of a commercial vehicle for their business.Karen Bailo, Commercial Lines President at Progressive Insurance, expressed the company's commitment to empowering small business owners through this initiative, stating, "As a purpose-led company, Progressive is committed to empowering small business...
By Business Daily | May 6, 2024
Morgan Stanley Private Credit (“MSPC”) and Prudential Private Capital have jointly led a growth capital investment into Guardian Dentistry Partners (“GDP”), a dental partnership network that aims to provide support services and growth opportunities for its dentist partners. Ashwin Krishnan, Managing Director and Co-Head of North America Private Credit at Morgan Stanley Private Credit, stated, “Working with ownership and management, we were able to deliver a structured solution combining both debt and equity securities, helping Guardian achieve its near-term financial and...
By Business Daily | May 6, 2024
Nationwide’s Term Life website has once again secured top honors for the best customer experience, receiving recognition from DALBAR for the fourth consecutive year. The website was also one of only two companies to earn the prestigious DALBAR Communications Seal of Excellence designation.Holly Snyder, president of Nationwide’s Life Insurance business, expressed the company's dedication to customer satisfaction, stating, "We strive to deliver an extraordinary customer experience and we’re excited to earn DALBAR’s “excellent” designation for four years in a row. This shows...
By Business Daily | May 6, 2024
Chicago, IL – May 5, 2024 – GE HealthCare unveiled SIGNA MAGNUS, a high-performance head-only MR scanner designed to advance the field of neuroscience. The system aims to overcome the limitations faced by conventional whole-body MR systems in exploring complex imaging procedures in neurology, oncology, and psychiatry.The SIGNA MAGNUS system is positioned to revolutionize MR research in the realms of neurology, oncology, and psychiatry. It represents a significant leap forward in the study of psychiatric diseases and neurological disorders such as Alzheimer’s, areas that...
By Business Daily | May 6, 2024
On May 4, 2024, Amazon shoppers looking to keep their gift purchases a secret now have solutions at their fingertips to hide their orders from prying eyes within the household.One effective method highlighted by an unknown source is setting up an Amazon Household account, which is free and ensures that all adults' order histories remain private. The feature allows users to share various benefits with others in the household, such as free Prime delivery, Prime Video streaming access, Amazon photos, and album sharing. It also provides early access to Lightning Deals.For...
By Business Daily | May 3, 2024
Samsung has introduced a new Interactive Display as part of Teacher Appreciation Week, aiming to enhance classroom experiences and express gratitude towards educators. The WAD Interactive Display, certified by Google Enterprise Devices Licensing Agreement (EDLA), offers a seamless integration of popular Google services like Google Classroom and Drive. David Phelps, Head of the Display Division at Samsung Electronics America, emphasized the importance of supporting educators, stating, "My wife teaches fourth grade, and I have seen first-hand how hard our educators work to...
By Business Daily | May 3, 2024
Reid from New York shared the story of his cat Giles, who had a mishap under a sofa bed, saying, “Something has happened, and we're really sorry, but [Giles] got trapped under the couch.” Fortunately, Giles received the necessary care and Reid mentioned, “He did need some stitches … but he was the model patient.”Kaitlyn, who is a colleague of Reid, mentioned that their workplace offered Nationwide pet insurance as a voluntary benefit. This decision was made after a costly visit to the vet, and Kaitlyn stated, “Their Nationwide pet insurance plan covered Giles’s sofa bed...
By A. A. Sanchez | May 3, 2024
Employers seeking to attract and retain talent are increasingly offering benefits such as remote work, paid leave, matching 401(k), dental coverage, and now, pet insurance. This particular benefit has gained popularity among potential employees, prompting employers to seek robust and reliable pet insurance providers for partnerships.
By Business Daily | May 3, 2024
ST. JOHNS, Fla., May 3, 2024 – The Insurance Information Institute (Triple-I) is urging individuals in hurricane-prone areas to prepare for what is anticipated to be a busy 2024 Atlantic hurricane season. The season, projected to be "very active," is expected to bring significant challenges, as highlighted by Triple-I CEO Sean Kevelighan during National Hurricane Preparedness Week.Kevelighan emphasized the importance of financial protection and property resilience, stating, "During National Hurricane Preparedness Week, everyone who lives in a hurricane-prone community...
By Business Daily | May 2, 2024
WASHINGTON, D.C. (May 2, 2024)—The national average for a gallon of gas waffled up and down over the past week before settling higher by two cents at $3.67. The slight increase in pump prices happened despite a lull in domestic gasoline demand and falling oil prices.According to Andrew Gross, a spokesperson for AAA, "From a demand perspective, we have entered the pre-Memorial Day funk." Gross also noted, "And the cost of a barrel of oil is nearly $10 less than two weeks ago, as oil prices have fallen into the upper $70s. This may keep pump prices somewhat flat for the...