Markets
Ransomware Attack Knocks Out Systems at Foreign Exchange Firm Travelex
Staff at foreign exchange firm Travelex are using pen and paper to serve thousands of customers after the company said cyber hackers were holding its systems to ransom, leading to a global blackout ...
Global Natural Catastrophe Insured Losses Reached $52B in 2019: Munich Re
Natural catastrophes caused overall losses of $150 billion during 2019, including insured losses of about $52 billion, which matches the average of the past 30 years, according to Munich Re's ...
EU Bank Official Wants Post-Brexit Trade Deal to Cover Financial Services
European Central Bank policy maker Klaas Knot said that having "a deep and comprehensive trade deal" that covers financial services would be preferable as the U.K. prepares to the leave the European ...
Executives On The Move at Sompo International, Starr and M.J. Hall & Co.
An XL Catlin and AIG veteran is joining Sompo International Holdings to run its U.S. Commercial Management Liability and Financial Institutions teams. Starr Insurance Companies appointed a veteran ...
Insurance Technology Company Sapiens Will Pay $31.6M for German InsurTech
Sapiens plans to pay up to $31.6 million for sum.cumo, an InsurTech based in Germany that provides technology and consulting services to the insurance sector and other customers. Both sides expect to ...
British Regulator Warns Commercial Insurance Bosses to Stamp Out Bad Office Behavior
Britain's markets watchdog has told the bosses of commercial insurance companies to stamp out bad behavior in the industry and improve diversity, or risk losing their jobs. The warning follows last ...
Philadelphia Insurance Companies CEO O’Leary Named Chairman; Glomb Becomes President
Philadelphia Insurance Companies has a new chairman and president. The Pennsylvania-based commercial property/casualty and professional liability insurance company said that its current president and ...
27 Carriers in Play With $1.3B FEMA Flood Program Reinsurance Renewal
The Federal Emergency Management Agency reported its 2020 traditional reinsurance placement for the National Flood Insurance Program, a transaction in which 27 private reinsurers assumed $1.33 ...