Industry News
Executives On The Move at Swiss Re and AXA XL
Swiss Re's Corporate Solutions Unit promoted an executive within its Engineering & Construction North America division. AXA XL's North America construction business promoted an executive to a ...
EU to London’s Banks and Insurers: Get Used to Limited Post-Brexit Access
Britain's huge financial sector will never again have the same access to the European Union as it did when the country was a member of the bloc, the EU's financial services chief said. Brexit makes ...
$2 Trillion Won’t Be Enough for the Next Black Swan Event
There aren't many contexts where $2 trillion seems like a paltry sum. Then a pandemic comes along. The economic fallout from COVID-19 has left insurers issuing existential warnings and businesses ...
Negative Outlook Continues for U.S. Commercial Lines: A.M. Best
U.S. commercial lines insurers will continue to be tarnished by an A.M. Best negative outlook, thanks to COVID-19 economic uncertainty, social inflation and other challenges. A.M. Best first revised ...
Germany’s Getsafe Raises $30M from Swiss Re, Others; Eyes Becoming Full Carrier
Digital MGA Getsafe disclosed $30 million in new financing led by new investor Swiss Re. The Heidelberg, Germany-based InsurTech said the money will help build its market dominance among millennials ...
As Rates Keep Hardening, Global Reinsurance Sector Receives ‘Stable’ Market Outlook
The outlook of the global reinsurance sector is "stable," which is mainly a reflection of hardening pricing conditions and tighter terms and conditions, according to AM Best and Fitch Ratings in two ...
Munich Re Will No Longer Cover Events Axed Due to Pandemics
German reinsurance group Munich Re will no longer insure against events canceled due to pandemics, a board member said on Tuesday. The world's largest resinsurer is making the change after it faced ...
Automated Police Drones Raise Privacy Concerns, and Other Risk Alerts
Police can now dispatch flying drones to answer 911 calls with the press of a button. Coastal cities in the U.S. could be facing a new housing crisis in the next few decades. Some ransomware gangs ...