On April 8, Illinois Governor JB Pritzker announced that Illinois Department of Insurance (DOI) Director Dana Popish Severinghaus will step down from her role as of April 15. Popish Severinghaus has served as Director of DOI since January of 2021. Governor Pritzker has appointed State Senator Ann Gillespie as new Acting Director of DOI, pending […]
Progressive Personal Auto Policies in Force Up Over 6% in March Compared to 2023
Total personal auto policies in force were also up month-over-month. The Progressive Corporation (NYSE:PGR) reported its total personal auto insurance policies in force were 20,448,300 in March, an increase of over 1.2 million or 6.7% from 19,168,400 in March 2023. March’s policies in force represent an increase of 445,000 or 2.2% from 20,003,200 in February. […]
Group 1 Automotive Agrees to Acquire Inchcape U.K. Auto Dealerships
Group 1 Automotive, Inc. (NYSE: GPI) announced an agreement to acquire the U.K. automotive retailing business and related owned real estate from a subsidiary of Inchcape plc for approximately $439 million (£346 million) in an all-cash transaction, inclusive of $279 million (£220 million) of appraised real estate value. In 2023, the Inchcape U.K. dealerships generated […]
SEMA Announces Board of Directors Candidates
Opus IVS President Brian Herron among 2024 candidates. The Specialty Equipment Market Association (SEMA) announced the 2024 candidates for election to its Board of Directors. Voting will take place online between May 28 and June 11 and is open to current SEMA-member companies. Votes must be cast by each company’s primary contact who will receive […]
Auto Parts 4 Less Group Announces Strategic Investment from RB Capital
Auto Parts 4 Less Group Inc. (OTC: FLES) announced that it has completed the first tranche of funding from RB Capital Partners, following the successful restructuring of its balance sheet, with the focus towards fostering revenue growth and operational expansion. Christopher Davenport, CEO of Auto Parts 4 Less Group Inc., stated, “We are thrilled to […]
EV Sales Growth Slowed in the U.S. During First Quarter
Market share growth rate of electric vehicles was up slightly in first quarter from last year, but down on fourth quarter of 2023. Electric vehicle (EV) sales growth in the U.S. continues to slow, according to sales data analyzed by Kelley Blue Book. In the first quarter of 2024, Americans bought 268,909 new electric vehicles, […]
Classic Collision Adds New Repair Facility in Washington State
Classic Collision, LLC announced the acquisition of Blue Sky Auto Body in Tacoma, Wash. This location will undergo a complete renovation to enhance the overall customer experience before re-opening as Classic Collision Tacoma Way. This includes upgrading the interior design, modernizing the facilities, and implementing new technology to streamline operations. Blue Sky Auto Body has […]
California Bureau of Automotive Repair to Hold Regulatory Workshop on Storage Fees April 25
The California Bureau of Automotive Repair (BAR) announced it will hold a regulatory workshop on April 25to discuss proposed regulations on storage and towing fees charged by automotive repair dealers. The workshop will be held after the conclusion of the April BAR Advisory Group meeting being held earlier in the day. The proposed regulations would […]
CSN Collision’s Ryan Bruno Appointed Chair of AIA Canada Board of Directors
The Automotive Industries Association of Canada (AIA Canada) is pleased to announce the election of three new directors to the 2024-2025 AIA Canada Board of Directors, as well as changes to the executive committee during the 82nd Annual General Meeting (AGM) held on April 10th, 2024. The event was held virtually to ensure all member […]
U.S. P/C Insurer Personal Lines Recovery to Drive Profitability in 2024
Combined ratio projected below 100% as revenue growth above historic levels. Property/casualty (P/C) insurance statutory earnings will materially improve in 2024 amid recovery in personal lines results and only modest deterioration in commercial lines underwriting, Fitch Ratings says. Personal lines underwriting losses should narrow considerably, particularly in auto and as natural catastrophe losses revert towards […]
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