Industry News
Former AXIS Capital Chairman Butt, an Industry Trailblazer, Has Died
Albert A. Benchimol, president and CEO of AXIS Capital, has issued a letter of remembrance to colleagues about Michael A. Butt, the company's former chairman and industry leader, who died on Feb. ...
The Infrastructure Crisis: As Business Losses Mount, New Demand for Utility Coverage?
When aging water pumps in Jackson, Miss., were shut down by floodwaters last August, knocking out water service to most of the city, companies that depend on clean water saw many of their customers ...
Facebook Hit With $1 Million Fine Tied to User-Privacy Lawsuit
]]Facebook and its outside law firm were ordered to pay almost $1 million in sanctions for deceitfully denying that it shared users' private information with third parties without permission. The ...
Zurich Insurance Net Income Fell 12%, Internal Profit Rose 12% in 2022
Zurich Insurance Group reported net income attributable to shareholders of $4.6 billion in 2022, a 12 percent decrease from $5.2 billion in 2021, which was driven mainly by a lower level of capital ...
Granada Financial to Acquire Majority Interest in Topa Group
Granada Financial Group reports it has agreed to acquire a controlling interest in Topa Insurance Group from Anderson Holdings. While Granada will assume majority control, Anderson Holdings will ...
Allianz Commits 6 Million Euros to Earthquake Relief and Recovery
Allianz Group has made a commitment of six million euros to support relief and recovery efforts following the earthquakes in Turkey and Syria, including up to one million euros to match the donations ...
Samsung Chip Plant Sues Insurer Over $400 Million in Storm Damage Claims
A Samsung Electronics Co. semiconductor plant in Texas sued its insurer over $400 million in damage claims tied to a power blackout during a deadly winter storm in 2021. The federal lawsuit filed ...
Executives on the Move at Markel, Liberty Mutual, Texas Mutual
Markel Corporation announced that Teri Gendron will become its next chief financial officer effective March 20, 2023, succeeding Jeremy Noble, who became president of Markel's insurance operations ...