Global Economy
AXA Mulls Sale of Singapore Business
AXA SA is considering a sale of its Singapore business as it seeks to raise funds divesting peripheral operations, according to people familiar with the matter. The French insurer is working with an ...
Beirut Blast Marine Insurance Losses Likely Less Than $250M
Insurance claims for damage to ships, goods and the port itself after a warehouse explosion last week in the port of Beirut were likely to total less than $250 million, reinsurance broker Guy ...
Executives On The Move at AXIS Re and Beazley
AXIS Re promoted an executive to a leadership role in North America. Specialist insurer Beazley appointed four new underwriters within its Chicago, Ill.-based cyber and executive risk division.
Chubb Appoints Lupica, Krump to Run North America Insurance, Global Underwriting/Claims
Chubb made two major executive changes affecting its North America Insurance division – the company's largest - as well as Global Underwriting and Claims. John Lupica has been named President, ...
Australia Commits $1.2B to Private Sector Cybersecurity After Attacks Spike
Australia will spend A$1.66 billion ($1.19 billion) over the next 10 years to strengthen the cyber defenses of companies and households after a rise in cyber attacks, Prime Minister Scott Morrison ...
Third Point Re, Sirius to Merge in $788M Deal
Third Point Reinsurance and Sirius International Insurance Group, a global multi-line insurer and reinsurer, have agreed to merge in a cash and stock transaction worth $788 million. The new company ...
1,000 Talc Lawsuits Against J&J Could Be Revived
A New Jersey appeals court's decision to revive two lawsuits accusing Johnson & Johnson's iconic Baby Powder of causing cancer may lead to the reinstatement of about 1,000 suits targeting the ...
AXA CEO Expresses Confidence in XL Biz After Coronavirus-Related Losses
The CEO of AXA on Thursday expressed confidence in the French insurer's company-focused XL Group after the business reported a loss in the first half following a spike in COVID-19-related claims. AXA ...
Multiple CNA Commercial Lines Took a Q2 COVID-19 Hit
CNA Financial Corp. saw its 2020 second quarter net income sliced almost by half compared to the previous year due to "considerable catastrophe losses" from COVID-19, civil unrest and weather-related ...