Specialty
SCOR Buys Majority Stake in Brazil MGA Focused on Agriculture
Global reinsurer SCOR said it has acquired a majority stake in AgroBrasil, an MGA focused on distributing fruit and grain loss of crop quality and yield insurance protection to Brazilian farmers. ...
AIG Will Spend $1.3B Over 3 Years on Modernization Initiative
American International Group said it will invest $1.3 billion over the next three years in its massive AIG 200 initiative, which is designed to revamp and improve core processes, technology ...
Carriers Rush to Exclude Coronavirus Epidemic From Event-Cancellation Policies
Businesses looking to buy cancellation insurance for events around the world will not be able to get cover for the new coronavirus outbreak, industry sources said, as insurers rush to exclude the ...
AIG’s Q4 Profit Exceeds Estimates; P/C Underwriting Rebound Continues
Insurer American International Group Inc on Thursday reported a quarterly profit that beat estimates, as the company booked an underwriting income in its general insurance business. AIG, one of the ...
Arch Capital’s Net Income Grew; Insurance Combined Ratio Still Above 100
Arch Capital Group Ltd. ended 2019 with a number of things in its favor. The Bermuda-based insurer and reinsurer saw its net income climb significantly higher in the fourth quarter and its ...
Argo Warns of $114M Underwriting Loss, Extra Costs From Watson’s Departure
Argo Group International Holdings Ltd. is warning that its 2019 fourth quarter will feature some "unacceptable" results, particularly a $114 million underwriting loss. Separately, there are also ...
Brexit Update: Future BoE Head Urges UK and EU to Avoid Finance ‘Punch-Up’
Britain and the European Union must find a way to settle future differences over how Britain's huge finance industry can do business in the bloc without resorting to a "metaphorical punch-up," the ...
A Closer Look at AIG’s Rumored Future Leader
Peter Zaffino sat at 2 World Trade Center poring over financial reports on the morning of Sept. 11, 2001, when the first plane struck a neighboring building. Zaffino, known by colleagues for his ...