Commercial Lines
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 ...
U.S. Insurers Hear Demands to Use Social and Environmental Issues in Decision-Making
U.S. insurers are increasingly listening to demands from stakeholders that they use social and environmental factors in their decision-making, according to a new AM Best survey. The ratings entity ...
Swiss Re Reports Better-Than-Expected Net Profit Despite Claims Surge
Reinsurance company Swiss Re said on Friday it swung to a better-than-expected net profit in the first nine months as it recovers from the impact of the coronavirus pandemic despite big claims from ...
Chubb CEO Greenberg: More Than Climate Change Drives Climb in Natural Catastrophe Insured Losses
Chubb, like all P/C insurers, is seeing regular spikes in commercial and personal property insured losses due to increasingly costly natural catastrophes. Chubb Chairman and CEO Evan Greenberg said ...
Lloyd’s of London Slimed by Climate Protestors Spilling 220 Gallons of Fake Oil Outside HQ
Climate protesters spilled a 1,000 liters (220 gallons) of fake oil outside Lloyd's of London Friday, part of a campaign to draw attention to the finance industry's financing of fossil fuels. The ...
AXA Will Tighten Policy for Insuring, Investing in Oil and Gas Sector
AXA, France's biggest insurer, said on Friday it would tighten its policy regarding investing in and insuring the oil and gas sector, as pressure builds on finance to help curtail new production. The ...
Deal Revival: EXOR (Again) Agrees to Sell PartnerRe to Covea for $9B
The Agnelli family's EXOR NV agreed to sell its PartnerRe reinsurance unit to France's Covéa for $9 billion, reviving a transaction that collapsed at the onset of the pandemic last year. Talks broke ...