Global Economy
AIG Closes Sale of Life & Retirement Unit Stake to Blackstone
Part of American International Group's plans to spin off part of its Life & Retirement business have come to fruition. AIG and Blackstone said they have closed on a previously announced agreement ...
Hiscox Sets Aside $150M for Hurricane, Flood Losses
Hiscox has set aside $150 million to cover losses linked to Hurricane Ida and floods in Europe, the insurer said, above analysts' expectations, while it reported strong premiums written this year ...
Lloyd’s of London Slimed by Climate Protestors Spilling 220 Gallons of Fake Oil Outside HQ
Climate protesters spilled a 1,000 liters (220 gallons) of fake oil outside Lloyd's of London Friday, part of a campaign to draw attention to the finance industry's financing of fossil fuels. The ...
AXA Will Tighten Policy for Insuring, Investing in Oil and Gas Sector
AXA, France's biggest insurer, said on Friday it would tighten its policy regarding investing in and insuring the oil and gas sector, as pressure builds on finance to help curtail new production. The ...
Reinsurers Increasingly Use Third-Party Capital to Transfer Risks
Reinsurers are increasingly relying on third-party capital to support their retrocession needs, in which they transfer risks they have assumed to other counterparties. According to a report from ...
Shareholder Activism Could Harm Some Airlines if They Don’t Cut Emissions Faster
Some airlines risk failure if they do not cut carbon emissions quicker in the next three to five years due to a mismatch between short-term corporate travel targets and the airline industry's 2050 ...
Undaunted by COVID-19, P/C Insurers and Startups Embraced Innovation Instead
As the CEO and co-founder of digital MGA Koffie Labs, Ian White was initially New York-based. Then the coronavirus pandemic struck, spurring a creative rethinking about what a corporate headquarters ...
Global Average Annual Disaster Losses Could Surpass $200B in 10 Years: AIR Worldwide
The global insurance industry can currently expect a long-run annual average loss of $106 billion and a greater than a 40 percent chance of experiencing an annual loss of more than $200 billion in ...