Industry News
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 ...
CNA Unloading $690M of Excess Comp Reserves to Enstar
In separate announcements late Wednesday, CNA Financial Corp. and Enstar said they had reached an agreement to have a subsidiary of Enstar reinsure a legacy portfolio of excess workers comp policies, ...UK Insurer Admiral Group Will Unload Price Comparison Unit in $685M Deal
UK home and car insurer Admiral Group Plc agreed to sell its price-comparison unit to the owner of property portal Zoopla in a transaction valued at 508 million pounds ($685 million). Admiral will ...
U.S. Government Will Use Obscure Federal Bureaucracy to Handle COVID-19 Vaccine Injury Claims
Lost in the U.S. launch of the coronavirus vaccine is a fact most don't know when they roll up their sleeves: In rare cases of serious illness from the shots, the injured are blocked from suing and ...
Arch Capital Group Promotes Papadopoulo to President and Chief Underwriting Officer
Arch Capital Group Ltd. (ACGL) announced that Nicolas Papadopoulo will be promoted to the position of president and chief underwriting officer, effective Jan. 1, 2021. Papadopoulo joined Arch in 2001 ...
Lemonade, 2020’s Best IPO, Could See Volatility When Insider Selling Restrictions Expire
The best-performing listing of 2020 is poised to enter the new year with extra volatility after insider selling restrictions expire this week. Insurance provider Lemonade Inc. is trading more than ...
W.R. Berkley Forms Bermuda-Based Special Purpose Reinsurer
W.R. Berkley Corp. announced the formation of Lifson Re Ltd., a special purpose reinsurer registered in Bermuda and licensed by the Bermuda Monetary Authority. Lifson Re has been capitalized with ...
Cyber Remains Viable for Insurers Even as Attacks Escalate
It could go down as one of the most significant cyber attacks yet. Russian hackers breached a number of U.S. government agencies and dozens of private businesses through a tainted update downloaded ...