Global Economy
Ransomware Attack Shuts Down Major U.S. Fuel Pipeline
Top U.S. fuel pipeline operator Colonial Pipeline shut its entire network, the source of nearly half of the U.S. East Coast's fuel supply, after a cyber attack on Friday that involved ransomware. The ...
Zurich North America Names Head of Private Equity for U.S. Middle Market Biz
Zurich North America said it is building a team to better support private equity-owned businesses. To that end, the longtime provider of insurance products and services for this customer class has ...
Chinese InsurTech Waterdrop Reportedly Raises $360M in NY IPO
Chinese online insurance technology firm Waterdrop Inc has raised $360 million by pricing its shares at $12 a piece in its New York initial public offering (IPO), according to two sources with direct ...
Insurer Reviews Options After Egyptian Court Allows Continued Container Ship Detention
An Egyptian court on Tuesday ruled that the container ship which blocked the Suez Canal in March could continue to be held in the waterway, rejecting an appeal by its Japanese owner against its ...
COVID Is One of Many Risks Insurers and Financial Sector Firms Face: Allianz
Covid-19 may drive market corrections and insolvencies that could impact financial institutions' balance sheets, increase exposures for directors and result in litigation. However, financial ...
SCOTUS Won’t Revive Wells Fargo Accounts Scandal Suit
The U.S. Supreme Court on Monday rebuffed a bid by current and former employees of Wells Fargo & Co to revive a lawsuit over losses to their retirement plan following a scandal over fake accounts ...
Executives On The Move at Zurich and BHSI
Zurich Insurance Group named a former AXA XL executive to a newly created role that address financial lines and cyber together. Berkshire Hathaway Specialty Insurance appointed a new senior ...
Swiss Cybersecurity Firm Acronis Nails Down $250M Financing Round
Swiss cyber security firm Acronis said on Tuesday it has received more than $250 million in a financing round led by CVC Capital valuing it at more than $2.5 billion. Founded in Singapore in 2003, ...