Underwriting
Bank of England Exec Warns London Should Not Blindly Adopt EU Rules
Britain should not be "short-sighted" and copy European Union rules just to keep financial activity in London, Bank of England executive director for financial stability Alex Brazier said on Monday. ...
Lloyd’s of London Warns ‘Large Loss’ Is Likely Due to Suez Canal Blockage
The blockage of the Suez Canal for nearly a week will result in a "large loss" for Lloyd's of London, its chairman said on Wednesday, as the insurance market recorded a 900 million pound ($1.2 ...
Next Insurance Reaches $881M in VC Cash After New $250M Funding Round
Next Insurance raised a whopping $250 million in new venture financing – a major cash infusion after a year of acquisitions and other actions to further growth. "This latest round of financing is a ...
Tech Companies Increasingly Unhappy With Their D&O Cover: Marsh
Technology companies' satisfaction with D&O coverage has dropped sharply so far 2021, as pricing soared and insurers narrowed their terms and conditions, Marsh found in a new study. Approximately ...
Insurance Companies Won’t be Covering Suez Shipping ‘Lost Expenses’ Costs
The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at least $24 million in expenses they will be unable to recoup as their insurance policies do not ...
Catastrophes Cost Insurers $89 Billion in 2020: Swiss Re’s Sigma
Natural and man-made catastrophes cost the insurance industry $89 billion in 2020 – the fifth costliest year since 1970, according to a report from Swiss Re's sigma. Of that total, $81 billion ...
After Chubb’s Failed Hartford Try, Allianz Now Mulling Possible Counteroffer
Chubb Ltd.'s $23 billion takeover offer for Hartford Financial Services Group Inc. has prompted Germany's Allianz SE to study the feasibility of a counteroffer, according to people familiar with the ...
CNA Protected Its Brand With Quick Response to Cyber Attack: S&P
CNA's quick response to a cybersecurity breach that disrupted its network has helped preserve the company's brand and competitive position, Standard & Poor's concluded in a recent assessment. ...