Industry News
Next Insurance Reaches $881M in VC Cash After New $250M Funding Round
Next Insurance raised a whopping $250 million in new venture financing – a major cash infusion after a year of acquisitions and other actions to further growth. "This latest round of financing is a ...
Tech Companies Increasingly Unhappy With Their D&O Cover: Marsh
Technology companies' satisfaction with D&O coverage has dropped sharply so far 2021, as pricing soared and insurers narrowed their terms and conditions, Marsh found in a new study. Approximately ...
Insurance Companies Won’t be Covering Suez Shipping ‘Lost Expenses’ Costs
The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at least $24 million in expenses they will be unable to recoup as their insurance policies do not ...
Catastrophes Cost Insurers $89 Billion in 2020: Swiss Re’s Sigma
Natural and man-made catastrophes cost the insurance industry $89 billion in 2020 – the fifth costliest year since 1970, according to a report from Swiss Re's sigma. Of that total, $81 billion ...
Some Post-Brexit Changes for London’s Financial Center
Britain and the European Union agreed a new post-Brexit financial services pact on Friday that will allow them to cooperate on regulation but does little to improve the City of London's access to the ...
Allstate Completes Exit From Life and Annuity Business With Sale to New York Life
The Allstate Corp. said it has agreed to sell its New York life insurance and annuity operation to Wilton Re for $220 million. The selling of Allstate Life Insurance Company of New York (ALNY), along ...
A Spurned Chubb Says Hartford Isn’t The Only Fish in the Sea
Global insurer Chubb Ltd. today issued a statement that it is "disappointed that The Hartford chose not to engage in discussions regarding a strategic business combination." However, the disappointed ...
After Chubb’s Failed Hartford Try, Allianz Now Mulling Possible Counteroffer
Chubb Ltd.'s $23 billion takeover offer for Hartford Financial Services Group Inc. has prompted Germany's Allianz SE to study the feasibility of a counteroffer, according to people familiar with the ...