Global Economy
Fitch Changes Allstate’s Rating Outlook Due to Life Insurance/Coronavirus Concerns
Allstate has been hit with a downgraded rating outlook from Fitch Ratings, driven by the global coronavirus pandemic and the uncertainty it creates in the life insurance business. Fitch said it ...
Coronavirus Fallout: EU Regulators Ask Firms to Delay M&A Antitrust Filings
European Union regulators have asked companies seeking to complete their desired mergers to delay submitting antitrust filings due to the coronavirus outbreak. That could affect the timelines of ...
Industry Body Warns Most British Companies Not Covered for Coronavirus Closures
Most companies in Britain don't have insurance cover for closures caused by the coronavirus outbreak, the Association of British Insurers said on Tuesday. The government recommended on Monday that ...
Executives On The Move at Everest Re and Willis Towers Watson
Everest Re Group promoted one of its executives to the role of Everest Group chief risk officer and chief actuary. Willis Towers Watson appointed a former Marsh Canada executive to a leadership ...
Canopius Buys Majority Stake in MultiStrat Holdings, a Bermuda-based Specialty Reinsurer
Canopius Group Ltd. has purchased a majority stake in Bermuda-based MultiStrat Holdings Ltd. Neither side disclosed financial terms. MultiStrat is a specialty reinsurance group that writes both ...
Italy’s Generali Expanded Existing Policies and Added New Ones to Confront Coronavirus
Generali's global headquarters in Trieste, Italy is only a few hours away by car from Milan, the epicenter of the coronavirus outbreak that erupted in the country in mid-February. That means the ...
British Insurers No Longer Sell Travel Insurance to New Customers
British insurers Admiral , Aviva and Direct Line are no longer offering travel insurance to new customers, they said on their websites on Friday. "The ongoing global situation with coronavirus means ...
Buffett Cancels ‘Woodstock for Capitalists’ Due to Coronavirus Worries
Warren Buffett on Friday said the coronavirus pandemic forced him to cancel Berkshire Hathaway Inc's annual shareholder weekend, the largest gathering in corporate America, because the safety of ...