Markets
At-Bay to Be Acquired by Munich Re for $575 Million
Munich Re Group on Aug. 19 said it has agreed to acquire cyber InsurTech At-Bay Inc. for $575 million. The cyber insurance and managed detection and response (MDR) provider primarily serving small- ...
Willis Re Jumpstarts US Expansion With Buy of BMS Re, US
To establish an operational presence in the U.S., reinsurance broker Willis Re on Aug. 18 said it is acquiring BMS Re, US. The deal includes BMS Intermediaries Inc. and BMS Capital Advisory LLC, as ...
Munich Re, Lloyd’s Top List of 50 Largest Global Reinsurers: AM Best
Munich Re has reclaimed its position from Swiss Re as the largest of global reinsurers that use IFRS-17 accounting standards, while Lloyd's has moved to the top ranking of non-IFRS-17 reinsurers, ...
AIG Starts Parametric Cloud Outage Solution
American International Group (AIG) said it launched a new Parametric Cloud Outage Solution, providing clients an additional layer of cyber insurance protection to help them recover faster from ...
Training the People Behind the Claims Assessments: Allstate Claims University
Late last week, Allstate unveiled Allstate Claims University, a 33,000-square-foot campus in Dallas, complete with hands-on property and auto labs—immersive training environments representing ...
Homeowners Insurance Market Reaches ‘Fragmented Phase,’ Says S&P GMI
New research from S&P Global Market Intelligence looks to suggest that homeowners insurers are reaching rate adequacy, but certain marketplace factors are creating what it called a "fragmented ...
AI Data Center Boom Is ‘Maxing Out’ P/C Insurers, AIG CEO Says
American International Group Inc. Chief Executive Officer Eric Andersen said that while the artificial intelligence buildout presents a "great opportunity" for the insurance industry, it's also ...
Renewal Changes for Most Commercial Lines Decrease in July and Q2, Says Ivans
Year over year, average U.S. commercial premium renewals for July increased in all lines except workers compensation, according to the Ivans Index. However, month over month, commercial auto, ...