Global Economy
Chubb Estimates $1.4B in Q2 Pretax COVID-19 Catastrophe Losses
Chubb's new, sobering disclosure of Q2 2020 global net catastrophe losses underscores the damage COVID-19 is doing to carriers' bottom lines. The global property/casualty insurer reported a whopping ...
Torrential Rain, Thunderstorms Batter Parts of China, Creating Flood Risks
The central Chinese city of Wuhan, epicenter of the new coronavirus pandemic, raised its flood alert level on Monday as torrential rain and thunderstorms battered swathes of the country, including ...
Aon Ends Most COVID-19-Related Salary Cuts Except for Named Executives
Aon will end the salary cuts implemented in May as a response to the economic uncertainties caused by the COVID-19 pandemic. Effective July 1, Aon ended the salary cuts and will colleagues for the ...
Climate Battles Are Moving to the Courtroom, Fueled by Creative Arguments
Climate change may be having its day in court. With the slow pace of international climate negotiations, lawyers from Switzerland to San Francisco are increasingly filing lawsuits demanding action. ...
Lemonade’s Debut Day of Trading Sees 140 Percent Jump in Stock Price
Lemonade soared on July 2 as its stock price climbing nearly 140 percent in the InsurTech's debut day as a public company. It's a significant achievement for the New York-based startup, which only ...
Allianz CEO Baete Predicts 2021 Recovery Barring Another Major Coronavirus Hit
Allianz, which is facing headwinds from the coronavirus crisis, expects to be back on track in 2021 barring a second major outbreak or financial market correction, the German insurer's chief ...
A Struggling AGCS Rolls Out Its Restructuring Plan
Allianz Global Corporate & Specialty (AGCS), the industrial insurer of Allianz Group, is embarking on a restructuring program it says is designed "to regain profitability and market leadership in ...
Lemonade Raises IPO Price Range
SoftBank Group Corp-backed insurance startup Lemonade Inc on Wednesday increased the target range for its U.S. initial public offering, looking to raise up to $308 million at a market capitalization ...