Specialty
American Financial Group Nets $3.5B Cash In Annuity Biz Sale to MassMutual
American Financial Group announced that it is selling its annuity business to Massachusetts Mutual Life Insurance Company in a $3.5 billion cash deal that primes the seller for growth in its ...
W.R. Berkley Reports Record Q4 Net Income
W.R. Berkley Corp. generated record net income in its 2020 fourth-quarter and a healthy combined ratio, results that company attributed to rate hikes, bigger investment returns and ongoing ...
A Canceled Olympics Would Slap Insurers With Historic Loss
Insurers are facing a $2-3 billion loss if the Tokyo Olympics are canceled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six ...
European Researchers See AI as Building Better Weather Data
European scientists who feed critical climate data to industry and researchers said that their next great breakthrough in weather forecasting will be powered by artificial intelligence. The European ...
Specialty E&S Insurer Upland Capital Makes Its Debut
Upland Capital Group has become the latest specialty insurance business in the marketplace. The Dallas-based operation plans to offer a diversified portfolio of excess and surplus lines casualty, ...
Most Global Catastrophe Economic Losses Unaddressed by Insurance
There were 416 natural catastrophe events globally in 2020 that resulted in economic losses of $268 billion – 8% above the average annual losses for this century, according to insurance broker ...
Executives On The Move at Lloyd’s, AIG and AGCS
Lloyd's of London hired an executive to fill its first-ever Chief of Markets position. AIG has a new head of Media & External Communications. Allianz Global Corporate & Specialty SE named a ...
Hallmark Financial Explores Splitting Off Specialty Commercial
Hallmark Financial Services, a specialty property/casualty company, announced Thursday that it is exploring the separation of its specialty commercial business to unlock its value and improve access ...