Markets
Munich Re Reigns Supreme as Top Global Reinsurer: AM Best
Munich Re replaced Swiss Re as the largest reinsurer in AM Best's annual ranking of the Top 50 Global Reinsurance groups in 2020, marking a return to a position that it last held in 2017. Swiss Re ...
Judge Will Approve Purdue Pharma Bankruptcy Plan Shielding Owners From Opioid Lawsuit Liability
A U.S. judge said on Wednesday he would approve OxyContin maker Purdue Pharma LP's bankruptcy reorganization plan, clearing a path to resolve thousands of opioid lawsuits and shielding the company's ...
Hong Kong Digital Insurer OneDegree Raises $28M to Support Asia Expansion
OneDegree, a Hong Kong-based insurance technology company, raised $28 million in a new round of funding as the startup looks to expand in Asia. Sun Hung Kai & Co. and AEF Greater Bay Area Fund ...
U.S. Commercial Auto Carriers Face Some Bumps on the Road to Profitability: S&P
U.S. commercial auto insurers face some blips and disruptions on their road to profitability due to inflation and the spotty post-pandemic economic recovery, according to a new Standard & Poor's ...
Reinsurer MS Amlin Promises New CEO Announcement Soon, Following Beazley’s Departure
Global reinsurer MS Amlin AG announced that Christopher Beazley has stepped down as chief executive officer. According to the company's announcement, Beazley will "pursue opportunities outside of MS ...
Insurers Balk at Coverage for New Satellites as Space Debris Swells
An ever-swelling amount of space debris is threatening satellites that hover around Earth, making insurers leery of offering coverage to the devices that transmit texts, maps, videos and scientific ...
Executives On The Move at The Hartford, Marsh and Strategic Risk Solutions
The Hartford appointed a new head of the Western Division for the company's Middle and Large Commercial Insurance business. A former Willis Towers Watson executive joined Marsh's Chicago office as ...
Hurricane Ida Could Cost Insurers as Much as $18B: Industry Experts
Insurers are bracing for a hit of about $18 billion from Hurricane Ida in the United States and the Caribbean, catastrophe modeling company Karen Clark & Co (KCC) said on Wednesday. The number, ...