Business Insurance
U.S.-based insurance broker NFP Corp. has acquired Irish retail and commercial property and casualty insurance broker Aiken Insurances Ltd. to strengthen its presence in Europe.
Posted: Aug 03, 2021
A report by management consultancy Redflank said that 89% of all the business entities affected by the recent riots in South Africa’s Gauteng and KwaZulu-Natal provinces were small, medium-sized and microenterprises.
Posted: Aug 03, 2021
French parametric insurance specialist Descartes Underwriting SAS plans to open two new offices in Asia Pacific in August in order to expand its footprint in the region.
Posted: Aug 03, 2021
France-based pan-African insurance broker Olea Insurance Solutions has acquired a majority stake in Angola’s leading property, casualty, and life insurance and reinsurance broker AIB Angola.
Posted: Aug 03, 2021
According to Marsh LLC’s Global Insurance Market Index, overall insurance pricing in the Australia-led Pacific region increased by approximately 23% in the second quarter, which is a slowdown from previous quarters.
Posted: Aug 03, 2021
In the wake of Aon PLC’s scuttled $30 billion attempted acquisition of Willis Towers Watson PLC and the associated deal to sell Willis Re to Arthur J. Gallagher & Co., it still would be a “long-term positive” for Gallagher to buy the reinsurance brok...
Posted: Aug 03, 2021
Insurer Hiscox swung to a first-half profit and resumed its interim dividend on Tuesday, boosted by an improvement in rates across its businesses after pandemic-linked claims pushed it into the red last year.
Posted: Aug 03, 2021
The crippling ransomware attack against the Colonial Pipeline in the U.S. in May should be a wake-up call for the shipping industry, according to a report published Tuesday by Allianz Global Corporate & Specialty SE.
Posted: Aug 03, 2021
An insurer would normally have been obligated to defend a company that was an additional insured under its coverage, but is off the hook in a case involving a worker who fell to his death from a roof because of the settlement in the underlying litiga...
Posted: Aug 02, 2021
BMS Group Ltd. said Monday its BMS Re reinsurance unit has launched BMS Re in Bermuda and named Adam Mullan executive director.
Posted: Aug 02, 2021
CNA Financial Corp. Monday reported second-quarter net income of $368.0 million, more than double the $151 million in the prior-year quarter, as catastrophe losses plummeted.
Posted: Aug 02, 2021
A California state court judge has refused to dismiss COVID-19 business interruption litigation filed by a national retailer against a Zurich Insurance Group Ltd. unit and other insurers.
Posted: Aug 02, 2021
A study published Friday in the U.S. Centers for Disease Control and Prevention’s Morbidity and Mortality Weekly Report found a correlation between such factors as income and education and vaccination rates among long-term care staff.
Posted: Aug 02, 2021
Amwins Group Inc. said Monday it has acquired National Truck Underwriting Managers Inc., a truck wholesaler that offers access to primary liability, physical damage and motor truck package policies.
Posted: Aug 02, 2021
Accounting firm Ernst & Young LLP, a partner and two former employees agreed to pay over $10 million to settle U.S. Securities and Exchange Commission charges they violated auditor independence rules, the agency said Monday.
Posted: Aug 02, 2021
Abbott Laboratories will pay $160 million to resolve claims that two of its units submitted false claims to Medicare by providing kickbacks to diabetes patients, including “free” or “no-cost” glucose monitors, the U.S. Department of Justice said.
Posted: Aug 02, 2021
Aon PLC clients are still facing directors and officers liability price increases but at a slower pace, according to a report released Monday.
Posted: Aug 02, 2021
China’s securities regulator said on Sunday it will seek closer cooperation with its U.S. counterpart and will support overseas listings, after U.S. regulators tightened disclosure for Chinese companies and voiced concern about Beijing’s regulatory a...
Posted: Aug 02, 2021
Professional services firm Aon PLC has updated its terrorism and political violence risk map for Saudi Arabia by adding strikes as one of the perils alongside war and terrorism.
Posted: Aug 02, 2021
Italy’s national fire service recorded more than 800 wildfires over the weekend, including a fire in the Italian city of Pescara on Aug. 1 that forced the evacuation of several beach resorts and homes.
Posted: Aug 02, 2021
U.K.-based insurer and reinsurer Brit Ltd.’s gross written premiums increased 14% year-on-year to $1.46 billion in the first half of the year.
Posted: Aug 02, 2021
Swiss Re Ltd.’s total net income reached $1 billion in the first half of the year, reflecting robust performance on the property and casualty insurance side amid diminishing impacts of the COVID-19 pandemic.
Posted: Aug 02, 2021
Luxembourg’s National Commission for Data Protection has fined Amazon Inc. €746 million ($887 million) for breaching European Union’s General Data Protection Regulation.
Posted: Aug 02, 2021
A report by ratings agency A.M. Best Co. Inc. said that Chinese nonlife insurers will be able to manage the high insured losses resulting from the record floods that struck China’s Henan province in July.
Posted: Aug 02, 2021
Shares of Allianz SE declined 7% on Monday after the German insurer said the U.S. Department of Justice had begun an investigation into losses at its fund management division.
Posted: Aug 02, 2021