Insurance

Runaway Reaction Likely Caused Fatal Explosion at Food Color Plant in Ky., Board Says

Supplies utilized in a food-coloring facility in Louisville led to a runaway chemical response final November, which doubtless triggered the explosion that killed two staff and significantly injured three others, the U.S. Chemical Security and Hazard Investigation Board stated in an replace on the tragedy.

“The outcomes of the chemical reactivity testing present that even throughout the batch reactor’s regular working temperature and stress vary, each the caramel coloring ingredient combination in addition to the sugar ingredient alone might expertise a hazardous runaway response, producing dangerously excessive temperatures and pressures far past the reactor’s protected limits, which in flip might trigger the reactor to blow up,” the Board’s replace report concluded.

plant explosion pic — A large piece of particles that flew from the plant. (AP Picture/Dylan Lovan)

The Givaudan Sense Color facility was producing caramel meals coloring in a reactor when the reactor exploded in November 2024. The blast threw giant metallic items of apparatus as a lot as 400 toes away, damaging close by houses and companies and prompting a shelter-in-place order for residents.

The sugar used within the course of doubtless was present process a decomposition response and produced gases that constructed up stress within the reactor, the report stated.

The plant, which had led to years of complaints from neighbors concerning the smells emanating from it, has ceased operations and is being demolished.

The replace could be seen here. The CSB stated the investigation is continuous and a ultimate report can be posted after the evaluate is accomplished.

Picture: The closely broken facility after the explosion. (AP Picture/Dylan Lovan)

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Insurance

Progressive Q2 Income More Than Doubles

Second quarter web earnings at Progressive Corp. elevated 118% in comparison with the identical interval a 12 months in the past to about $3.2 billion.

Progressive experiences outcomes month-to-month. Web earnings for June was up 40% to $1.1 billion. Yr-to-date web earnings as of June 30 is $5.7 billion, up from about $3.8 billion a 12 months in the past.

The Mayfield Village, Ohio-based insurer’s second quarter mixed ratio was 86.2—a 5.7-point enchancment over Q2 2024. Web premiums written (NPW) in Q2 had been about $20 billion, a rise of 17% in comparison with the identical time interval final 12 months.

Private strains recorded a year-to-date mixed ratio of 85.9 regardless of a web disaster loss ratio of 20.0 year-to-date in private property.

Yr-to-date NPW in Progressive’s direct auto enterprise grew 22% to about $19.4 billion. Company-channel auto grew 14% to just about $20 billion as of June 30. Private property NPW development held at 1%.

Subjects
Profit Loss

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Insurance

Aon Promotes Reinsurance Leaders as John Neal Takes a New Direction With AIG

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Insurance coverage dealer Aon introduced the promotions of Alfonso Valera as CEO of Worldwide for Reinsurance, accountable for UK, EMEA and APAC, and Steve Hofmann as CEO of Americas for Reinsurance, accountable for North America and Latin America. As well as, George Attard has been named world head of Technique and Tomas Novotny has been appointed chairman of Worldwide.

Aon mentioned these reinsurance appointments are unconnected to immediately’s announcement from AIG that John Neal, the previous CEO of Lloyd’s, could be taking over a serious government position on the insurer, somewhat than shifting to Aon as CEO of Reinsurance as initially had been deliberate.

In the beginning of 2025, Neal had been named CEO of reinsurance at Aon, and has been on gardening go away since he left Lloyd’s on the finish of Could – however he by no means truly labored for Aon. Immediately, AIG introduced he’ll take a unique course, main AIG’s Common Insurance coverage—North America and worldwide business insurance coverage companies plus AIG’s world private insurance coverage ebook.

An Aon spokesman famous that these regional appointments had been in prepare earlier than AIG’s announcement about Neal, and the dealer determined to maneuver up its announcement when Neal made his determination to maneuver to AIG — so as “to supply readability” in regards to the group.

“AIG is a superb accomplice of ours, and we actually help what’s taking place right here,” the Aon spokesman mentioned. He defined there are not any plans to conduct a seek for a CEO of reinsurance as a result of Andy Marcell will stay in his present position with the brand new group reporting into him. Marcell leads Aon’s built-in Danger Capital and Human Capital capabilities throughout the agency’s Reinsurance, Industrial Danger, Well being, Wealth and Expertise groups.

“We want John Neal nice success in his new position and stay up for working with him at AIG. World Options CEO Andy Marcell and our industry-leading Reinsurance group are strongly positioned to proceed to innovate on behalf of our purchasers,” mentioned Aon in an official assertion.

Valera beforehand served as co-CEO of EMEA for Reinsurance and, earlier than that, as CEO and normal supervisor of Aon Re Iberia, amongst different management roles. Hofmann beforehand served as U.S. CEO of Reinsurance and earlier as U.S. co-president of Reinsurance.

Attard most not too long ago served as CEO of Reinsurance for APAC, following 17 years on the agency main technique and consumer engagement within the area. Novotny has served as co-CEO of EMEA for Reinsurance, chairman of the board of Central and Jap Europe for the agency and as a broking chief for Aon primarily based in Prague.

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Leadership
Reinsurance
Aon
AIG

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Insurance

Society Insurance Names Felton to Board of Directors

Society Insurance coverage, headquartered in Fond du Lac, Wisconsin, elected Chris Felton of Burlington, Wisconsin, as a director

Felton is president and chief govt officer of Company Central Credit score Union, main technique, innovation and operations.

Along with Felton, Society’s board of administrators additionally consists of Heather I. Boyer, Sherman L. Brown, JoAnn M. Cotter, John F. Duwell, Susan M. Finco, Nancy Hernandez, Linda L. Newberry-Ferguson and Rick W. Parks.

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