Global Economy
Brexit Transition Period Ahead for UK, EU Insurers: A.M. Best
As of Jan. 31, 2020, Brexit is finally here. But the UK's departure from the European Union shouldn't have any immediate impact on UK or EU insurers, A.M. Best said in its latest commentary. That ...
Lloyd’s First Syndicate-in-a-Box Aims to Be an Innovation Lab: Munich Re
Lloyd's of London is expecting big things for 2020 as it rolls out the key initiatives for its massive modernization project designed make it easier to do business with Lloyd's and, ultimately, ...
U.S. Refiners, Chemical Plants Cut Insurance Cover After Severe Accidents Boost Costs
U.S. refineries and petrochemical plants are cutting back on insurance because several years of severe accidents have driven up the cost of coverage, industry and insurance sources said. With less ...
Brexit Finally Dawns, and the European Central Bank Urges Calm
The European Central Bank said it's closely monitoring financial markets and is ready for all contingencies from Brexit, in a statement of reassurance on the eve of Britain's final departure from the ...
Slice Labs Rolls Out Four AI, Machine Learning-Focused Risk Reduction Services
Slice Labs said it has started marketing four new services centered around artificial intelligence and machine learning that are designed to more proactively and intelligently protect carriers, ...
AXIS Loses Money in Q4; CEO Benchimol Insists Insurer Is Improving
AXIS Capital Holding's 2019 fourth quarter was a money-loser, culminating a year hampered by Japan's typhoons and poor U.S. crop conditions, among other obstacles. Still, the company's results are ...
W.R. Berkley Sees Higher Premiums; Investment Results Ding Net Income
W.R. Berkley Corp. said its gross premiums written grew by more than 10 percent in the 2019 fourth quarter, thanks in part to accelerated rate increases. But net income dipped compared to the same ...
Buffett’s Berkshire Hathaway Inks Deal to Sell Newspaper Unit
Warren Buffett is getting out of the newspaper business. Berkshire Hathaway Inc. agreed to sell its BH Media unit and its 30 daily newspapers to Lee Enterprises Inc., which owns papers including the ...