Personal Lines
The Hartford Rejected Three M&A Offers in All From Chubb
After its initial offer of $65 per share to acquire The Hartford was rejected, insurer Chubb came back with two additional offers of $67 and then $70 per share, The Hartford reported today in its ...
‘Average’ Hurricane Season More Active Going Forward, and More Risk Alerts
The "average" Atlantic hurricane season will be a little more active going forward. The National Oceanic and Atmospheric Administration (NOAA) has updated its definition of an "average" Atlantic ...
The Latest Launches From Berkley One, Openly and AXA XL
W.R. Berkley Corp.'s Berkley One expanded into Maryland and broadened its product offerings in other states where it does business. Openly, an InsurTech MGA focused on high-end homeowners insurance, ...
White House Unveils 100-Day Plan to Protect Power Grid From Cyber Attacks
The White House unveiled on Tuesday a 100-day plan intended to protect the U.S. power grid from cyber-attacks, mainly by creating a stronger relationship between U.S. national security agencies and ...
Insurers Will Boost Private Equity Investments, Scale Back Hedge Fund Focus
Insurers want to put more money into private equity this year while scaling back on hedge funds, a survey by Goldman Sachs Asset Management showed on Wednesday. Private equity was the most-favored ...
Small Insurance M&A Deals Create More Value: McKinsey
McKinsey analysts believe insurers focused on large one-off deals undertaken to scale their companies and those who stick to organic growth are both headed down unfruitful paths if outsized ...
Premium Givebacks Among U.S. P/C Insurers in 2020 Reached $13B: AM Best
U.S. property/casualty insurers returned nearly $13 billion in premiums in 2020 thanks to reduced exposures from the COVID-19 pandemic, AM Best said in new commentary. What's more, a sizable part of ...
Lemonade Poised to Add Auto Insurance to U.S. Product Offerings
Lemonade, the insurance company that uses artificial intelligence and behavioral economics, plans to add car insurance to its current renters, homeowners, pet, and life insurance offerings in the ...