Industry News
Argo Group, Challenged by Shareholder Voce Capital, Sees Q1 Jump in Net Income
Argo Group is reporting a healthy increase in net income for its 2019 first quarter even as activist shareholder Voce Capital Management continues to allege excessive spending practices by the ...
Munich Re Subsidiary Sells Turkish P/C Arm to German Insurer Talanx
The German insurer Talanx has acquired the property/casualty insurer ERGO Sigorta A.S. from a Munich Re subsidiary. Financial details of the transaction where not disclosed. Talanx purchased ERGO ...
Markel Subsidiary State National Will Front Tesla’s New Insurance Venture
Elon Musk's Tesla plans to launch its own insurance product for Tesla drivers, which will be fronted by Markel Corp.'s subsidiary, State National. Markel's Co-Chief Executive Officer Richard R. Whitt ...
PG&E Pursues U.S. Court Sign-Off for $105M Fund to Aid Wildfire Victims
PG&E Corp on Wednesday sought court approval for a $105 million fund to help house victims of the wildfires blamed on the bankrupt California power provider. PG&E in a filing in U.S. ...
Chubb Sees a ‘Rational Market’ With ‘Forward Momentum’: CEO Greenberg
Chubb Chairman and CEO Evan Greenberg referred to his company as being in the midst of a "rational market" and appeared pleased with its direction and tone so far in 2019. "In the first quarter, in ...
Chubb’s Net Income Ticks Downward; Commercial Insurance Produces Gains
Chubb saw its net income dip slightly in the 2019 first quarter, though commercial and other insurance premiums rose at a healthy clip. The insurance giant's property/casualty combined ratio also ...
Veruna Raises $6M With Carrier Backing; Startup Has Cloud-Based Agency Management Platform
InsurTech Veruna said it has raised $6 million in Series A financing, with plans to use the money to propel expanded use of its Salesforce-based agency management platform. The Boston-based startup ...
Cryptocurrency Thefts and Fraud Reportedly Reach $1.2B in Q1
Losses from the theft of cryptocurrencies from exchanges and fraud-related activities surged in the first quarter of the year to $1.2 billion, or 70 percent of the level for all of 2018, ...