Strategy
ACE Buying Itaú Seguros for $685M to Become Top P/C Insurer in Brazil
ACE Limited announced Friday that it will acquire the large corporate property/casualty business of Itaú Seguros, S.A. from Itaú Unibanco S.A. for roughly $685 million—a deal that will make ACE ...
Zurich Sells Underperforming Russian Retail Unit to Olma Group; Keeps Corporate Biz
Zurich Insurance Group AG, the largest Swiss insurer, said the sale of its Russian retail unit will lead to an estimated loss of about $300 million. The insurer said it is selling the business to ...
Allianz: Many U.S. Residents Want Foreign Vacation Insurance Coverage
Nearly half of Americans would consider buying travel insurance for future foreign vacations due to recent world events, according to a new survey. The finding is among the conclusions contained in ...
Endurance M&A Bid Pushes On as Aspen Ups the Opposition
The hostile-takeover battle between Bermuda reinsurance rivals Endurance Specialty Holdings Ltd. and Aspen Insurance Holdings Ltd. continued unabated this week with no end in sight. Endurance ...
Xuber: London’s Insurance Market Needs Collective Use of Big Data
The London insurance market is arguably among the most important in the world. A new report from insurance software developer Xuber argues that position is in jeopardy because its major players don't ...
TransRe, Pillar Management Up Stakes in Pillar Capital to 50% Each
Pillar Capital Holdings Limited, a Bermuda-based insurance asset manager specializing in collateralized reinsurance and catastrophe insurance-linked securities, announced Tuesday that shareholders ...
RSA Lures Another Zurich Executive
RSA Insurance Group Plc hired a second Zurich Insurance Group AG executive to run its U.K. and European units, said two people with knowledge of the matter. Steve Lewis, chief executive officer of ...
AmTrust To Grab Florida WC Insurer With Low-Hazard Risks
AmTrust Financial Services Inc. said it will snatch up a a workers compensation insurer affiliated with Blue Cross & Blue Shield of Florida (Florida Blue) in a bid to add more low-hazard risks to ...