Markets
Allianz Commits $75 Million, Strategic Partnership to Hong Kong Fintech WeLab
Allianz's technology investment arm is committing $75 million to WeLab, a Hong Kong-based fintech focused on virtual banking, consumer financing and other related digital services. The deal also ...
GEICO Suit Claiming It Overcharged on Auto Insurance During Pandemic Moves Forward
The auto insurer GEICO Corp, a unit of Warren Buffett's Berkshire Hathaway Inc, must face a proposed class action claiming it overcharged policyholders as the coronavirus pandemic led to less driving ...
RLI Makes a Number of Executive Changes
RLI Corp. is making a new of leadership changes as it gears up for long-time CEO Jonathan Michael's retirement at the end of 2021. "Each of these leaders brings a wealth of experience, knowledge and ...
Wholesale Insurance Broker Amwins to Snatch Up Rival Worldwide Facilities
The largest wholesale insurance broker, Amwins Group, is getting even larger as it has agreed to acquire Worldwide Facilities, the fourth-largest wholesale insurance broker in the U.S. The addition ...
Personal Auto Insurance Profits Unsustainable, Fitch Says
Highly profitable sub-90 personal auto combined ratios recorded by 10 publicly traded property/casualty insurers in 2020 don't look anything like the 106 recorded in 2016. But they're headed in that ...
After Pandemic Legal Tussles, Insurers Rewrite Business Policies
U.S. insurers are strengthening language in policies that cover business losses to protect them from future claims related to the coronavirus pandemic or other widespread illnesses that disrupt ...
E&O Cyber Incidents Exploded in 2020: Aon
Aon released its first ever Errors & Omissions/cyber insurance product snapshot and it presents a pretty dire snapshot of worsening conditions. There were on average three new E&O cyber ...
Executives On The Move at Zurich Insurance and Aon
Zurich Insurance promoted its chief underwriting officer to the role of CEO for its Commercial Insurance division. An Allied World veteran is joining Aon plc as Head of Casualty in its Reinsurance ...