Global Economy
Liberty Mutual Sees Net Income Expand, Underwriting Margins Improve
Liberty Mutual Holding Company reported an increase in net income for its 2019 first quarter, thanks to improved underwriting margins and fewer catastrophe losses. The Boston-based insurer booked ...
Lloyd’s Invests in AI Startup Developing Liability Insurance Platform for Small Businesses
Lloyd's announced it is investing in Layr, a cloud-based commercial insurance platform for small businesses looking to purchase liability insurance. The investment follows Layr's successful trial in ...
Cryptocurrency Exchange Giant Reports Hack Attack
Binance, one of the world's largest cryptocurrency exchanges, said hackers withdrew 7,000 bitcoins worth about $40 million via a single transaction in a "large scale security breach," the latest in a ...
Zurich Insurance Said It Will Meet or Beat Its 2019 Financial Targets
Zurich Insurance is on track to meet or beat its financial targets to 2019 and is seeing positive trends in property and casualty (P&C) insurance pricing. Europe's fifth-biggest insurer made the ...
Brexit Could Hamper EU AI Technology Development: Official
The loss of the U.K.'s financial power and expertise as a result of Brexit is likely to exacerbate the European Union's lag in the global technological arms race, according to Anders Borg, a former ...
Acquisition Alert: Generali Seeking Small and Medium-Sized Targets
Italy's biggest insurer Generali is looking at small and medium-sized insurance companies in Europe to strengthen its presence in the region, it said on Tuesday. Generali said in November it had up ...
Nationwide, Ryan Specialty Form New Bermuda Reinsurer
Ryan Specialty Group (RSG) and Nationwide announced they have formed a new Bermuda reinsurance company, Geneva Re Ltd. Columbus, Ohio-headquartered Nationwide will own 50 percent of the venture with ...
Judge Approves $307.5M Fiat Chrysler Diesel Emissions Settlement
A federal judge in San Francisco on Friday approved a $307.5 million civil settlement for about 100,000 U.S. owners of Fiat Chrysler diesel vehicles that the government said had illegal software that ...