Industry News
Torrential Rain, Thunderstorms Batter Parts of China, Creating Flood Risks
The central Chinese city of Wuhan, epicenter of the new coronavirus pandemic, raised its flood alert level on Monday as torrential rain and thunderstorms battered swathes of the country, including ...
Aon Ends Most COVID-19-Related Salary Cuts Except for Named Executives
Aon will end the salary cuts implemented in May as a response to the economic uncertainties caused by the COVID-19 pandemic. Effective July 1, Aon ended the salary cuts and will colleagues for the ...
Woolley Joins AXIS International Construction Team
A veteran of Zurich Insurance, CNA and more joined AXIS Capital Holdings Ltd. in a leadership role. Anna Woolley was named senior underwriter in the AXIS International Construction team. In her new ...
Allianz CEO Baete Predicts 2021 Recovery Barring Another Major Coronavirus Hit
Allianz, which is facing headwinds from the coronavirus crisis, expects to be back on track in 2021 barring a second major outbreak or financial market correction, the German insurer's chief ...
A Struggling AGCS Rolls Out Its Restructuring Plan
Allianz Global Corporate & Specialty (AGCS), the industrial insurer of Allianz Group, is embarking on a restructuring program it says is designed "to regain profitability and market leadership in ...
Lemonade Raises IPO Price Range
SoftBank Group Corp-backed insurance startup Lemonade Inc on Wednesday increased the target range for its U.S. initial public offering, looking to raise up to $308 million at a market capitalization ...
The Latest Launches From Sompo GRS and Bold Penguin
Sompo Global Risk Solutions has expanded its operations in Europe. Bold Penguin, an InsurTech commercial insurance technology provider, partnered with ZenBusiness, an online platform that helps small ...
In 2020, U.S. P/C Insurers’ Decade-Long Run of Premium Growth Will End: S&P
The U.S. P/C insurance industry will end a 10-year run of premium growth in 2020 due to COVID-19 fallout, according to new research from S&P Global Market Intelligence. "Factors including ...