Industry News
London Struggles to Lure Back Financial Workers, Legal & General Warns
The head of one of the UK's largest insurers and investors warned that the City of London is struggling far more than the country's other office districts in luring workers back to their desks. Since ...
Liberty Mutual Rebounds From COVID-19 Challenges
Liberty Mutual's 2021 second quarter swung to a profit as the insurer rebounded from challenges it faced last year due to the coronavirus pandemic. The company reported $769 million in net income for ...
State Auto, Soon to Be Acquired by Liberty Mutual, Reports Q2 Decline in Net Income
State Auto Financial Corp., soon to be acquired by Liberty Mutual for $1 billion, saw a large Q2 decline in net income due to a dip in net investment gains and as well as natural catastrophe losses. ...
Competitors Poached Talent as Aon/WTW Merger Plans Grew Uncertain
While Aon and Willis Towers Watson were trying for many months to land their merger, their competitors were able lure away some of their producer talent – capitalizing on the "distraction and ...
Updated: Moody’s to Pay $2B for Daily Mail’s RMS Cat Modeling Unit
The publisher of Britain's Daily Mail said on Thursday it had agreed to sell its insurance risk business RMS to Moody's Corporation for about 1.425 billion pounds ($1.99 billion) in cash. Chief ...
Zurich Insurance, Metromile Disclose Their Post-COVID Return-to-Office Plans
Zurich Insurance and Metromile are among a number of industry companies that have plotted post- COVID returns to the office. Like the others who have recently disclosed their plans, they are doing so ...
While Funding Levels Rise, So Do InsurTech Death Rates
While the aggregate InsurTech funding level for the first-half of 2021 soared past the amount raised for InsurTech businesses for the entire year 2020, InsurTechs continued to quietly shut their ...
Class Action Targets Insurance Broker Gallagher Over Ransomware Attack
Insurance and benefits broker Arthur J. Gallagher is the target of a proposed class action lawsuit over a ransomware attack it suffered in 2020. The plaintiffs allege that Gallagher failed to follow ...