Industry News
WTW Follows Marsh, Aon in Russia Business Withdrawal
Global broking and advisory firm WTW announced it would withdraw all of its businesses in Russia on Sunday. The move follows similar ones announced by brokers Marsh McLennan and Aon late last week. ...
Swiss Re, Allianz, WTW Cutting Russia Ties
Allianz and Swiss Re said on Monday they were cutting back on Russian business as European financial institutions turn their backs on Russia. The German insurer and Swiss reinsurer join banks ...
InsurTech MGA Loadsure Raises $11M to Expand Cargo Insurance Technology Platform
InsurTech MGA Loadsure announced that it closed its $11 million Series A funding round, led by MMC Ventures. Other investors included Crowley, a global maritime, energy and logistics company, and ...
Metal Thieves Swiping Tailpipes Create 1,000% Spike in Claims
State Farm said Thursday that metal thieves in search of platinum, rhodium and palladium are stealing catalytic converters in ever-greater numbers, sending auto-insurance claims soaring across the ...
Berkshire Rejects Shareholder Call to Replace Buffett as Chairman
Berkshire Hathaway Inc. on Friday urged the rejection of four shareholder proposals recommending that it replace Warren Buffett as chairman, report on its plans to handle climate risk and reduce ...
SiriusPoint Partners With Mosaic to Reinvigorate Lloyd’s Business
SiriusPoint Ltd., a global insurer and reinsurer, announced it has entered into a strategic partnership with Mosaic Insurance. SiriusPoint will invest in Mosaic to support growth, provide ...
Marsh to Exit Russia; Aon Suspends Operations
Marsh McLennan, the world's largest insurance broker, said on Thursday it would exit all of its businesses in Russia, while its rival Aon suspended operations in the country. "We intend to transfer ...
Tesla, Other Car Makers Have Edge Over Incumbent Insurers: Moody’s
Tesla and other car makers represent a growing threat to incumbent auto insurers, even though they have little direct impact on the insurance market today, Moody's Investors Services said in a report ...