Executives On The Move at GEICO and Ascot Group
The Berkshire Hathaway-owned GEICO has made a number of changes to its Board of Directors. Ascot Group appointed a former Markel executive to grow its Inland Marine business.
Boardroom Agenda
Britain’s Aviva Moves $10B Out of Country Due to Brexit Uncertainty
Aviva Plc asked a London court to approve the transfer of assets totaling 9 billion euros ($10.2 billion), saying the uncertainty from Brexit was "intensifying" as it joined other insurers and banks ...
General Insurance Blues: AIG Ended 2018 With Another Money-Losing Quarter
American International Group's road to profitability continues to be both slow and challenging. High catastrophe losses in the fourth quarter presented yet another obstacle. The property/casualty ...
Suit Alleges Maiden Holdings Failed to Address and Disclose AmTrust Portfolio Risks
Maiden Holdings Ltd. is named in a class action investor lawsuit alleging that it failed to adequately address and reveal portfolio risks involving AmTrust Financial Services, its largest customer. ...
Specialty Broker USI Insurance Services Will Snatch Up U.S. Risk Insurance Group
Dallas-based property/casualty program and specialty brokerage firm U.S. Risk Insurance Group (U.S. Risk) announced it has agreed to be acquired by USI Insurance Services (USI). The transaction is ...
Job Losses Expected as AXA XL Merges European Teams
AXA's $15 billion acquisition of XL Group last fall will lead to further integration, consolidation and job cuts, according to a draft plan the company released on Feb. 12. The M&A deal between ...
Berkshire Hathaway Launches New Multiple Coverage Insurance for Small Businesses; Buffett Endorses
Berkshire Hathaway's Insurance Group is launching a new comprehensive insurance product for small businesses that combines multiple coverages, and the conglomerate's legendary chairman has endorsed ...
Global Insurance M&A Grew 9 Percent in 2018; Short-Term Drop-Off Likely: Clyde & Co.
Global insurance sector mergers and acquisitions increased by 9 percent in 2018, with the Americas showing the most active deal activity, according to a new Clyde & Co. report. There were 382 ...