Industry News
Deal Revival: EXOR (Again) Agrees to Sell PartnerRe to Covea for $9B
The Agnelli family's EXOR NV agreed to sell its PartnerRe reinsurance unit to France's Covéa for $9 billion, reviving a transaction that collapsed at the onset of the pandemic last year. Talks broke ...
W.R. Berkley’s Financial Progress Draws Outlook Upgrade From Fitch Ratings
W.R. Berkley has an upgraded rating outlook from Fitch Ratings due to its continued financial upswing, moved to Positive from Stable. Additionally, the credit rating firm affirmed Financial Strength ...
Many Face a ‘Sobering and Alarming’ Impact From Long-Haul COVID: NCCI Report
About 10 percent of those who contracted COVID-19 continue to suffer persistent symptoms months later, creating the potential for millions of people to suffer functional impairment for extended ...
Reinsurers Increasingly Use Third-Party Capital to Transfer Risks
Reinsurers are increasingly relying on third-party capital to support their retrocession needs, in which they transfer risks they have assumed to other counterparties. According to a report from ...
Undaunted by COVID-19, P/C Insurers and Startups Embraced Innovation Instead
As the CEO and co-founder of digital MGA Koffie Labs, Ian White was initially New York-based. Then the coronavirus pandemic struck, spurring a creative rethinking about what a corporate headquarters ...
Chubb CEO Greenberg Acknowledges Hiring Challenges in Era of Post-COVID Job Turmoil
The coronavirus pandemic is driving millions of Americans to retire early or quit their jobs in a reassessment of their lives, leaving corporate America struggling to fill open positions. Chubb ...
Global InsurTech Investment Hits Record $10B Through September
Global investment in insurance technology (InsurTech) start-ups totalled $10.5 billion in the first nine months of 2021, a record high level for the period, reinsurance broker Willis Re said on ...
Global Average Annual Disaster Losses Could Surpass $200B in 10 Years: AIR Worldwide
The global insurance industry can currently expect a long-run annual average loss of $106 billion and a greater than a 40 percent chance of experiencing an annual loss of more than $200 billion in ...