Markets
Auto MGA Loop Raises $21M, With 10 More States in Its Sights
Loop, a managing general agency InsurTech focused on auto insurance, raised $21 million in new financing from multiple investors to help fuel ongoing expansion plans into additional states. "Their ...
State Auto Shareholders Back Liberty Mutual’s $1B Acquisition Plan
Shareholders at State Auto Group voted overwhelmingly to approve Liberty Mutual Holding Company's $1 billion plan to buy the company. The Ohio-based super-regional insurance holding company said the ...
Amazon Reaches Settlement With Employees Allegedly Fired for Criticizing Work Conditions
Amazon.com Inc and the U.S. National Labor Relations Board (NLRB) said on Wednesday the company had reached a settlement with two former employees who alleged they were fired last year for ...
Allianz Transfers Legacy Life Portfolio to Resolution Re
Allianz Suisse Life has agreed to transfer to Resolution Re a legacy portfolio of individual life products, which have a reserve volume of around 4 billion Swiss francs ($4.3 billion). Using quota ...
Cyber Rates Could Double Within Two Years as Attacks Soar: S&P
The pandemic caused economic and insured losses from cyber attacks to skyrocket, which has heightened awareness of the risk and increased demand for cyber re/insurance, according to a report ...
Britain’s Financial Sector Wants Relaxed Visa Requirements for Overseas Staff
Britain's financial sector has called on the government to ease visa requirements on overseas staff who want to work up to six months in the country to maintain global competitiveness. A Global ...
Microsoft Will Work With MGU At-Bay to Enhance Its Cyber Insurance Cover
Microsoft, an investor with At-Bay since early 2020, will partner with the California-based MGU and InsurTech to help beef up its cyber insurance coverage. Microsoft said the initiative was part of a ...
Despite a Smaller Premium Base, WC Profitability Still Beats Other P/C Lines
Workers compensation may have a smaller premium base, but it remains highly profitable compared to other policy lines, AM Best concludes in a new report. The line produced more than $44.3 billion in ...