Global Economy
Allianz Unloads Private Bank OLB to Apollo for $336M
German insurer Allianz said it had agreed to sell its 90 percent stake in private bank Oldenburgische Landesbank (OLB) to U.S. private equity firm Apollo for 300 million euros ($336 million). Apollo, ...
Executives On The Move at XL Catlin, JLT Re and Everest Re
XL Catlin promoted an executive on its E&S team. JLT Re named a new partner for its Bermuda operation. Everest Re Group hired a former Hiscox executive to be its vice president and head of the ...
AIG, MassMutual Take on $1.6B in Accenture Pension Obligations
Consulting and outsourcing services provider Accenture Plc said on Friday it would transfer $1.6 billion in pension obligations to insurers American International Group Inc and MassMutual. The ...
Trump Talks Drones, Internet of Things With Tech Executives
President Donald Trump met with two dozen executives from technology companies and venture capital firms on Thursday for advice on how the government can promote emerging technologies such as drones ...
Cyber Insurance Premium Tally: $1.3B in 2016, a 35 Percent Hike
Property/casualty insurers wrote $1.35 billion in direct written premium for cyber insurance in 2016, a 35 percent jump from 2015, according to reports by Fitch Ratings and A.M. Best. The largest ...
Insurers Lead The Pack in Appointing Chief Digital Officers
Insurers – both from the property/casualty and life sectors – are far ahead of other industries in appointing a chief digital officer, according to Strategy&, PwC's strategy consulting ...
Ex-Uber CEO Alleged to Know Engineer Possessed Google Driverless Car Info
Ousted Uber Technologies Inc. head Travis Kalanick learned early last year that the engineer who until recently oversaw the company's driverless car project possessed discs of information from ...
American Express Boosts Next Insurance’s Series A Round to $35M
Next Insurance, a digital insurance agency for small to medium businesses, announced that American Express Ventures has joined its previously announced Series A Round led by Munich Re/HSB Ventures. ...