Personal Lines
Willis Towers Watson Closes Sale of Telematics Tech to Octo
Willis Towers Watson has completed the sale of its usage-based insurance assets to Octo Telematics, a U.K.-based telematics company focused on the auto insurance industry. Both sides first announced ...
Direct Line’s Discount Encourages Switch to Tesla Autopilot System
Britain's largest motor insurer Direct Line is offering Tesla Inc drivers in Britain a 5-percent discount for switching on the car's autopilot system, seeking to encourage use of a system it hopes ...
Congress Skeptical About Trump’s $12B Plan to Reduce Future Flood Damage
The Trump administration's proposed $12 billion initiative to reduce future flood damage met with skepticism in Congress, as lawmakers warned against diverting emergency funding away from hurricane ...
Hartford Will Unload Talcott Resolution Life/Annuity Unit in $2.05B Deal
Insurer Hartford Financial Services Group said on Monday it would sell its life and annuity unit to a group of investors in a deal valued at $2.05 billion, as it looks to focus on its property and ...
MAPFRE’s U.S. Division to Pull Out of 5 States, Reorganize
MAPFRE USA is reorganizing, with plans to pull out of five states and refocus its operations in others in order to strengthen its operations. The U.S. division of Spanish insurer MAPFRE Group will ...
Coastal U.S. Cities Must Address Climate Risks or Face Downgrades: Moody’s
Coastal communities from Maine to California have been put on notice from one of the top credit rating agencies: Start preparing for climate change or risk losing access to cheap credit. In a report ...
Heritage Insurance Gains Larger Regional Presence With $250M Narragansett Bay Acquisition
Heritage Insurance Company has completed its $250 million acquisition of Narragansett Bay Insurance Company, a deal that it said will create a personal lines carrier with a presence in 11 states. ...
Late 2017 Hurricanes Could Spur 2018 Insurance M&A Spree: Clyde & Co. Prediction
Hurricanes Harvey, Irma, Maria and Nate broke records in late 2017 in terms of damages and insured losses. The strains they have caused on the marketplace could spur a wave of M&A activity a ...