Markets
ProAssurance Agrees to Buy NORCAL in $450M Deal
Healthcare liability insurer ProAssurance Corp. has agreed to acquire medical professional liability insurer NORCAL Mutual Insurance Co. following NORCAL's demutualization in a $450 million ...
Proposed U.S. Legislation Coming That Threatens Tech Platform Encriptions
U.S. legislation will be introduced in the coming weeks that could hurt technology companies' ability to offer end-to-end encryption, two sources with knowledge of the matter said, and it aims to ...
Allianz Raises Guidance After Profit Jump
German insurance group Allianz announced a more ambitious profit target for this year after posting a better than expected 9.5% jump in fourth-quarter net profit on Friday. The profit increase was ...
Ransomware Shuts U.S. Natural Gas Compressor Facility for Two Days
A recent ransomware attack caused a U.S. natural gas compressor facility to shut for two days, the latest in a string of attacks targeting the country's energy infrastructure over the past few years. ...
China’s Ping An Insurance Warns Coronavirus May Impact Business
Ping An Insurance Group Co of China Ltd , China's largest insurer by market value, said on Thursday that the coronavirus may have an impact on its business. Ping An's comments on the virus were ...
Swiss Re Hit With 2019 Profit Drop; P/C Combined Ratio Reaches 107.8
Reinsurer Swiss Re reported on Thursday a smaller-than-expected profit in 2019 due to claims for a series of man-made and natural disasters, as well as expenses for its U.S. casualty business, ...
At-Bay Pulls in $34M From Munich Re, Others; Cyber Insurance Expansion Planned
Cyber Insurance startup At-Bay raised a new $34 million venture capital round, CEO and Co-Founder Rotem Iram disclosed in a recent blog posting. Munich Re Ventures and Acrew Capital led the Series B ...
AXA XL Chooses Chubb Veteran Gunter as Its New CEO
AXA XL has hired a former Chubb Group senior executive as its new CEO. Scott Gunter, previously senior vice president of Chubb Group and president of Chubb's North America Commercial Insurance ...