Commercial Lines
AIG Closes Sale of Life & Retirement Unit Stake to Blackstone
Part of American International Group's plans to spin off part of its Life & Retirement business have come to fruition. AIG and Blackstone said they have closed on a previously announced agreement ...
Hiscox Sets Aside $150M for Hurricane, Flood Losses
Hiscox has set aside $150 million to cover losses linked to Hurricane Ida and floods in Europe, the insurer said, above analysts' expectations, while it reported strong premiums written this year ...
ITC Reporter’s Notebook: How Next, Root and Swiss Re Are ‘Adapting’ and Innovating
Over the course of the last six years, Next Insurance has adapted its business model, its distribution method, and its product offerings. Coming up next, the InsurTech aims to offer "adaptive ...
Jury Sides With Insurer in COVID-19 Business-Interruption Claim
A Kansas City jury decided in favor of the insurer in the nation's first jury trail of a lawsuit that sought coverage for business-interruption losses caused by the coronavirus. The jury for the U.S. ...
CNA Boosts Net Income Even as Cat Losses Rise, Investment Results Dip Lower
Continued rate hikes helped boost CNA Financial's 2021 third quarter net income, even as the Chicago-based commercial and specialty property/casualty insurer dealt with higher net catastrophe losses ...
18 States Sue to Stop Biden Administration COVID Vaccine Mandates for Federal Contractors
Eighteen states filed three separate lawsuits Friday to stop President Joe Biden's COVID-19 vaccine mandate for federal contractors, arguing that the requirement violates federal law. Attorneys ...
J&J Resolves Most Lawsuits Over Anti-Psychotic Drug, Reports $800M in Legal Expenses Over Issue
Johnson & Johnson said it has settled most of the lawsuits it faced by thousands of men who claimed its anti-psychotic drug Risperdal caused them to develop excessive breast tissue and disclosed ...
Generali Seals $1.4B Deal to Grab Italian Rival Cattolica
Italy's top insurer Generali sealed its 1.17 billion euro ($1.36 billion) takeover of smaller rival Cattolica on Friday in a move aimed at cementing its domestic market leadership. On the last day of ...