Markets
Travelers’ Cat Losses Plunge, Combined Ratio Improves for Q4
The Travelers Companies, Inc. enjoyed a large drop in catastrophe losses, improved combined ratio and rise in net income during a 2019 fourth quarter generally filled with improvements. Pre-tax ...
Insured National Catastrophe Losses Dipped Nearly 20 Percent in 2019: Willis Re
Insured losses from major natural catastrophes in 2019 totaled roughly $53.0 billion, about 18 percent lower than the annual average since 2011, according to a report from Willis Re. This figure ...
AXA Reportedly Reviewing Potential Options for Middle Eastern Operations
Axa SA is considering options for its Middle Eastern operations including a potential sale, as Chief Executive Officer Thomas Buberl continues to streamline the operations of Europe's second-largest ...
Canadian Judge Signs Off on $150M Volkswagen Fine for Diesel Emissions
A judge in Canada approved a C$196.5 million ($149.7 million) fine against Volkswagen AG on Wednesday after the company pleaded guilty to dozens of counts of diesel emissions violations. Volkswagen ...
Cyber InsurTech Sayata Labs Hires Flynn as Head of Insurance
An InsurTech designed to help brokers and carriers maximize their cyber business has hired a former Beazley Group executive in a leadership role. Israel- and Massachusetts-based Sayata Labs said it ...
Growing Risk for SME Insurers: Duty to Defend Cats
Until recently, there was a relative lull in new mass tort events in the United States. This led to a sense among insurers that mass litigation was no longer the looming threat that it was in the ...
InsurTech M&A: Coalition, Xceedance and Insurity
Coalition acquired a company focused on scanning and cybersecurity. Xceedance bought an outfit centered around insurance operations and technology services. Insurity, Inc. snatched up a company that ...
AI Will Produce a More Profound Change Than Fire: Google CEO
Google's chief executive officer has left no doubt about how important he thinks artificial intelligence will be to humanity. "AI is one of the most profound things we're working on as humanity. It's ...