Industry News
Next Insurance Pursues New Financing Valuing the Startup at $2.25B
Next Insurance is in talks to raise new capital in a round that values the insurance technology startup at about $2.25 billion, according to people familiar with the matter. Alphabet Inc.'s CapitalG ...
U.S. Auto Combined Ratios Will See Sharp Improvement in 2020: Report
In a report, S&P Global Market Intelligence is projecting that U.S. personal and commercial auto insurers will see a sharp improvement in their full-year combined ratios for 2020, followed by ...
State Farm Makes an Acquisition for the First Time
State Farm Mutual Automobile Insurance Co. is acquiring Dallas-based nonstandard auto insurer, GAINSCO, in a $400 million cash transaction. It will be the first time in State Farm's 98-year history ...
ITC Promises to Maximize Networking With One-Month Virtual Conference Delay
InsureTech Connect has postponed its annual (now virtual) fall conference by one month, four days before it was scheduled to go live. ITC, which produces one of the world's largest insurance ...
What Distinguishes This Market? Here’s Lockton Re Leaders’ Insights
Lockton Re's Tim Gardner, global CEO, and Ross Howard, global chairman, have been through their share of hard markets. Like many in the reinsurance business, they agree no two hard markets are ...
Dozens of Businesses Urge U.S. Carriers to Stop Covering Fossil Fuel Producers
A group of about 60 American businesses on Thursday urged their insurers to stop providing coverage to and investing in fossil fuel producers. In a letter, companies including outdoor-gear producer ...
Arcadian Risk Capital Launches New Bermuda Underwriting Operation
Arcadian Risk Capital is launching as a new underwriting operation based in Bermuda that will initially underwrite excess casualty and professional lines insurance. John Boylan, a 30-year veteran of ...
How Insurance Industry Might Respond if a Pandemic Is an Act of Terror
Imagine a scenario where COVID-19 was manufactured in a lab and was released as an act of terror. Tracey Gibbons, senior vice present, Underwriting, at Third Point Re, considers this possibility ...