Markets
Multiple CNA Commercial Lines Took a Q2 COVID-19 Hit
CNA Financial Corp. saw its 2020 second quarter net income sliced almost by half compared to the previous year due to "considerable catastrophe losses" from COVID-19, civil unrest and weather-related ...
Black Lives Matter Protests Spur AIG Promise to Develop Equality Action Plans
AIG CEO Brian Duperreault said the insurer is taking steps to address racial equality and improve diversity – issues raised globally by examples of police brutality and the Black Lives Matter ...
Not Every InsurTech Is a Startup: How Swiss Re Delivers Tech Solutions
It's not just InsurTech startups that have an edge on innovation. Some established reinsurers have developed their own analytics and technology divisions that offer a variety of InsurTech-type ...
AI Tech Firm Expert System Raises $29.4M; Clients Include AXA XL, Lloyd’s, Zurich
Expert System, a global artificial intelligence company with many property/casualty insurance industry clients, raised $29.4 million in a new financing round. Of that total, $20 million came from ...
U.S. Reportedly Pursuing Nearly $13B of Claims in Purdue Pharma Opioid Probes
U.S. prosecutors are pursuing possible penalties of nearly $13 billion to resolve investigations of OxyContin maker Purdue Pharma after uncovering evidence of criminal and civil misconduct stemming ...
Allianz Q2 Net Profit Dropped Nearly 30 Percent, Shaped by Coronavirus Uncertainty
German insurer Allianz on Wednesday posted a 29% fall in net profit in the second quarter from a year earlier and shied away from updating its full-year profit guidance as the coronavirus pandemic ...
Executives On The Move at Hiscox Re, Hamilton Re and AXA XL
The CEO of Hiscox Re & ILS is leaving the company to pursue interests outside of insurance. Hamilton Re has appointed an interim CEO. AXA XL presented a new leadership team for the ...
AIG President Zaffino: COVID-19 Creating ‘Flight to Quality’
AIG President and Chief Operating Officer Peter Zaffino said that the insurer has seen accelerated rate improvements and other gains as clients react to the ongoing COVID-19 pandemic. "We believe ...