Commercial Lines
American Financial Group Nets $3.5B Cash In Annuity Biz Sale to MassMutual
American Financial Group announced that it is selling its annuity business to Massachusetts Mutual Life Insurance Company in a $3.5 billion cash deal that primes the seller for growth in its ...
W.R. Berkley Reports Record Q4 Net Income
W.R. Berkley Corp. generated record net income in its 2020 fourth-quarter and a healthy combined ratio, results that company attributed to rate hikes, bigger investment returns and ongoing ...
A Canceled Olympics Would Slap Insurers With Historic Loss
Insurers are facing a $2-3 billion loss if the Tokyo Olympics are canceled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six ...
The Latest Launches From Chubb and Branch Insurance
Chubb is marketing a new product designed to streamline absence management and workplace benefits for mid-size to large employers. Branch Insurance will link with ADT to offer ADT home security ...
European Researchers See AI as Building Better Weather Data
European scientists who feed critical climate data to industry and researchers said that their next great breakthrough in weather forecasting will be powered by artificial intelligence. The European ...
InsurTech Joshu Raises $3.7M for Commercial Insurance Digital Platform
The InsurTech Joshu raised $3.7 million in seed funding to advance its digital tools designed to help carriers and MGAs bring their commercial insurance business online. Blumberg Capital led the ...
South African Insurer Santam to Begin Processing 4,000 COVID Business Interruption Claims
South African insurer Santam Ltd said on Monday it will start processing business interruption claims for all commercial policies that were affected by a coronavirus-led lockdown in April beyond ...
Shareholders Sue Bayer, Alleging Roundup Lawsuit Secrecy Hurt Share Price
Two law firms are suing Bayer for damages on behalf of shareholders, claiming the German group's management should have warned of the risk of lawsuits over the Roundup weedkiller when Bayer acquired ...