Industry News
The Hartford Rejected Three M&A Offers in All From Chubb
After its initial offer of $65 per share to acquire The Hartford was rejected, insurer Chubb came back with two additional offers of $67 and then $70 per share, The Hartford reported today in its ...
‘Average’ Hurricane Season More Active Going Forward, and More Risk Alerts
The "average" Atlantic hurricane season will be a little more active going forward. The National Oceanic and Atmospheric Administration (NOAA) has updated its definition of an "average" Atlantic ...
Double-Digit Rate Hikes Help Propel W.R. Berkley’s Robust Q1 Results
W.R. Berkley Corp. reported record quarterly underwriting income, double-digit premium growth and healthy rate increases in the first quarter. The commercial lines insurer and reinsurer also saw its ...
White House Unveils 100-Day Plan to Protect Power Grid From Cyber Attacks
The White House unveiled on Tuesday a 100-day plan intended to protect the U.S. power grid from cyber-attacks, mainly by creating a stronger relationship between U.S. national security agencies and ...
Small Insurance M&A Deals Create More Value: McKinsey
McKinsey analysts believe insurers focused on large one-off deals undertaken to scale their companies and those who stick to organic growth are both headed down unfruitful paths if outsized ...
InsurTech Archipelago Pulls in $34M for AI Risk Platform Expansion
Archipelago raised $34 million in new financing from multiple investors, with plans to use the money for further expansion of its operations and technology – a risk data platform with artificial ...
Premium Givebacks Among U.S. P/C Insurers in 2020 Reached $13B: AM Best
U.S. property/casualty insurers returned nearly $13 billion in premiums in 2020 thanks to reduced exposures from the COVID-19 pandemic, AM Best said in new commentary. What's more, a sizable part of ...
Lemonade Poised to Add Auto Insurance to U.S. Product Offerings
Lemonade, the insurance company that uses artificial intelligence and behavioral economics, plans to add car insurance to its current renters, homeowners, pet, and life insurance offerings in the ...