Risk
Munich Re Said It Will Meet 2021 Profit Goals Even as COVID-19 Costs Grow
German reinsurance group Munich Re said on Tuesday it would meet its 2021 profit goal as it raised its forecast for gross premiums and predicted higher pandemic-related losses than previously ...
Amazon Will Pay Shoppers Injured by Others’ Products Without Admitting Liability
Amazon.com Inc on Tuesday said it would pay customers who suffer injuries or property damage from defective goods others sell on its U.S. platform, in a new policy that could reduce litigation. For ...
IVANS Buys Ask Kodiak to Accelerate Commercial Lines Digital Distribution Efforts
Applied Systems' IVANS division has acquired Ask Kodiak, a Massachusetts-based InsurTech that provides commercial lines market appetite and search capabilities for the independent agency channel. ...
China’s Unpredictable Regulatory Measures Make Investors Wary
The unpredictability of China's regulatory measures make the country unappealing to foreign investors in the short-term, following its latest crackdowns on the technology, property and education ...
Progressive Insurance Dinged by Q2 Rise in Auto Claims, Low Premiums
Progressive Corp. reported a 56 percent decrease in net income to $790.1 million for the second quarter. Net income was down 9 percent for the first six months. The company said the largest ...
U.S. Senate Bill Would Sanction Countries That Harbor Cyber Criminals
Two senior U.S. senators planned legislation on Thursday that would fight ransomware attacks on U.S. infrastructure by sanctioning countries the harbor cyber criminals, as well as by strengthening ...
Brookfield Asset Management’s Reinsurance Unit Will Acquire American National for $5.1B
Brookfield Asset Management Inc's reinsurance unit has agreed to buy insurer American National Group Inc for about $5.1 billion in an all-cash deal, the companies said on Monday. Started in 1905 by ...
GEICO Drags Down Berkshire Hathaway’s Q2 Insurance Earnings
Berkshire Hathaway's insurance division produced a mixed performance during the 2021 second quarter. Rate increases generally carried the day, though the conglomerate's GEICO unit dragged down ...