Business Insurance
Bermuda-based insurer SiriusPoint Ltd. has entered into a partnership with managing general underwriter Eaton Gate MGU Ltd., which specializes in mid-market property and commercial insurance in the U.K., FinTech Global reported. The partnership mainl...
Posted: Aug 08, 2023
German insurer Allianz SE has completed a transaction regarding the sale and transfer of its operations in Lebanon to asset manager Global Gate Capital, Xprimm reported. The transaction is part of the German insurer’s efforts to streamline its operat...
Posted: Aug 08, 2023
Canada-based Fairfax Financial Holdings Ltd. has posted net earnings of $734.4 million for the second quarter of this year, compared to a net loss of $32 million in the same period in 2022, Reinsurance News reported. Net property and casualty insuran...
Posted: Aug 08, 2023
Businesses will face challenges complying with a cybersecurity rule issued by the U.S. Securities and Exchange Commission late last month that gives them just four business days to report material cyber breaches, experts say.
Posted: Aug 08, 2023
First-half surplus lines premiums reported by 15 U.S. Surplus Lines Service and Stamping Offices totaled $35.96 billion, up 15.9% from the comparable period last year, according to a report issued Monday.
Posted: Aug 07, 2023
Resilience Cyber Insurance Solutions LLC said Monday it had secured $100 million in series D funding led by Intact Ventures, an affiliate of Resilience’s primary capacity provider, Intact Insurance.
Posted: Aug 07, 2023
The U.S. Securities and Exchange Commission fined electric vehicle company Canoo Inc. $1.5 million Friday for what the regulator alleges were reporting failures related to hundreds of millions of dollars of unreasonable revenue projections.
Posted: Aug 07, 2023
The U.S. Equal Employment Opportunity Commission on Monday issued a proposed rule to implement the Pregnant Workers Fairness Act, which took effect June 27.
Posted: Aug 07, 2023
The Ministry of Emergency Management in China said that the country’s direct economic losses from natural disasters increased to 41.18 billion Chinese yuan ($5.74 billion) in July, more than the losses reported in January to June combined, Reuters re...
Posted: Aug 07, 2023
A.M. Best Co. Inc. said that Taiwan-based Fubon Insurance Co. Ltd.’s capital and surplus grew to $18.5 billion Taiwan ($583.9 million) in the first half of the year, as pandemic insurance policies reached maturity and a capital injection of TWD16 bil...
Posted: Aug 07, 2023
According to some industry sources, insurers in South Korea are strengthening efforts to expand their business activities in international markets as the local market has become saturated, The Korea Times reported. Both non-life and life insurers are...
Posted: Aug 07, 2023
Turkey-based insurer Turkiye Sigorta AS reported a 117% year-on-year increase in gross premiums to 24.4 billion Turkish lira ($899.7 million) in the first half of this year, Middle East Insurance Review reported. The insurer’s net profit amounted to...
Posted: Aug 07, 2023
Vesttoo Ltd. is in “active discussions” with potential investors to find alternative collateral for clients after discovering fake letters of credit had been used on its platform, a company spokesperson said on Monday.
Posted: Aug 07, 2023
Swiss Reinsurance Company Ltd.’s net income increased to $1.4 billion in the first half of this year, up from $157 million in the first half of 2022, Reinsurance News reported. The increase in net income was driven by fewer natural catastrophe losses...
Posted: Aug 07, 2023
Berkshire Hathaway on Saturday posted its highest-ever quarterly operating profit, while gains from stock holdings helped the conglomerate led by billionaire Warren Buffett swing to a nearly $36 billion overall profit.
Posted: Aug 07, 2023
A Texas appellate court ruled a trial court wrongly compelled Home Depot USA Inc. to produce certain documents and materials sought by an employee in an injured worker case.
Posted: Aug 04, 2023
Stemming from social media posts that fraud inspectors tend to like, it was discovered that two “strangers” involved in a car accident in Hialeah, Florida, in August 2022 actually knew each other, staged the wreck and attempted to bilk their insurers...
Posted: Aug 04, 2023
A Pennsylvania appellate court on Thursday reversed a workers compensation judge’s decision granting loss benefits to a Hershey Co. worker whose leg was surgically amputated after he developed a diabetic foot ulcer.
Posted: Aug 04, 2023
An audit of the Maryland Workers’ Compensation Commission found that regulators failed to track employers that do not carry workers compensation insurance and failed to keep adequate compliance records.
Posted: Aug 04, 2023
Cayman Islands-based Greenlight Reinsurance Ltd.’s net income increased to $49.9 million in the second quarter of this year from $14.8 million in the year-ago comparative period, mainly due to increased property and general liability business pricing...
Posted: Aug 04, 2023
A recent analysis by U.K.-based Comparitech Ltd. showed that 478 manufacturing companies suffered a ransomware attack between 2018 and this year, leading to a loss of approximately $46.2 billion in downtime alone, IT Security Guru reported. The analy...
Posted: Aug 04, 2023
Swiss catastrophe data provider Perils AG has increased its insured and reinsured loss estimates for the severe flooding that affected the Auckland region between Jan. 27 and Feb. 2, by 18% to $2 billion New Zealand ($1.21 billion), Artemis reported....
Posted: Aug 04, 2023
French insurer Axa SA’s profit increased by 5% year-on-year to €4.11 billion ($4.49 billion) in the first half of the year, driven by higher premiums and below-average damage claims for natural catastrophes in the firm’s property and casualty busines...
Posted: Aug 04, 2023
The continuing fallout from the Vesttoo scandal continues to dominate the news, accounting for four stories in this week’s Top 10.
Posted: Aug 04, 2023
Lula Technologies Inc. said Friday it has raised $35.5 million in a Series B funding round led by tech investment firms Nextview Management Co. LLC and Khosla Ventures LLC.
Posted: Aug 04, 2023