Industry News
Philadephia Insurance Acquires World Wide Specialty’s Staffing Insurance Biz
Philadelphia Insurance Companies has acquired the Staffing Insurance Business offered by New York-based MGA World Wide Specialty Programs. The deal closed on December 31, 2020. Neither side disclosed ...
Jan 1. Renewals Produced Super-Sharp Commercial Insurance Rate Hikes
Lower investment yields, adverse catastrophe loss development, higher loss cost trends, concerns over climate change, and, of course, the pandemic coalesced to bring some of the sharpest price ...
Zurich North America Starts Marketing Construction Weather Parametric Insurance for Contractors
Zurich North America is launching Construction Weather Parametric Insurance for project owners and contractors. The coverage, according to the insurer, is designed to fill a gap created by more ...
AIG, Marsh, Travelers CEOs Among Corporate Leaders Urging Quick Biden Election Certification
Several leaders of the insurance industry joined nearly 200 New York corporate executives in a letter urging members of Congress to certify the election of Joe Biden as President without delay this ...
Generali Will Pay $203M for AXA’s Greek Operations
Assicurazioni Generali SpA agreed to buy the Greek operations of French insurer AXA SA as part of its plans to expand in European non-life and health businesses. The Italian company will pay 165 ...
More Expansion for Applied Underwriters; Ex-AIG Exec to Run New D&O Division
Fast-growing specialty lines insurer Applied Underwriters announced the creation of a U.S. based division of its Applied Financial Lines business unit to provide directors and officers (D&O) ...
Aviation Reinsurance Jan. 1 Renewal Rates Climb Up to 250 Percent
Aviation reinsurance rates rose by up to 250% at the key Jan. 1 renewal date, broker Willis Re said in a report on Monday, with the market still reeling from the impact of Boeing 737 MAX crashes two ...