Markets
Concert Group Holdings Raises $100M to Fuel Insurance Fronting Expansion
Concert Group Holdings – a newly formed business dedicated to insurance fronting – has raised $100 million in capital to fund its growth. A fronting company is a licensed and admitted insurer ...
Florida Insurers Are Swimming in a Sea of Red Ink: Citizens CEO Gilway
It's not just a few Florida property insurance companies that are running into financial trouble. Almost every carrier is losing money in 2021 and the future does not look any better, the CEO of ...
3M Will Resolve ‘Forever Chemicals’ Lawsuits With $98.4 Million Payout
Industrial conglomerate 3M Co on Tuesday said it had agreed to pay about $98.4 million to settle claims that it contaminated the Tennessee River with toxic chemicals. 3M agreed to resolve a lawsuit ...
AXIS Capital Accelerates Its Retreat From Coal Investments and Cover
AXIS Capital Holdings Ltd. said it will phase out insurance cover and investments in the coal business globally within the next 20 years. "It is our belief at AXIS that [insurance/reinsurance] ...
Russia’s Renaissance Insurance Will Reduce IPO Size
Russia's Renaissance Insurance Group will reduce the size of its IPO to $250 million from an initial $290 million, two sources told Reuters on Wednesday, selling only new shares plus an ...
Metromile Hires Travelers Vet to Guide ‘Significant Expansion” of Independent Agent Program
Metromile, Inc. said it is pursuing "a significant expansion" of its pilot using independent agents to sell digital insurance, and it has hired a Travelers veteran to lead the effort. Scot Rankin, a ...
Business Owners Remain Overconfident About Their Ransomware Risks and Preventative Steps: Embroker
Business owners – even many technology startups - remain vastly overconfident about both their risk for ransomware attacks and insurance they have in place to prevent them, according to a new ...
Amazon Appeals Record $865M Penalty for Alleged Violation of EU Data Protection Rules
Amazon.com Inc. appealed a record 746 million-euro ($865 million) penalty for allegedly violating the European Union's tough data-protection rules. The appeal was filed at the Luxembourg ...