Industry News
Allianz Extends Contract of CEO Bäte for an Additional Five Years
Allianz SE extended the contract of CEO Oliver Bäte an additional five years, through September 2024. Bäte has been in charge of Allianz for about four years, and his original contract had been set ...
EU Leaders Endorse May’s Brexit Deal, Urge UK Parliament to Also Approve
European Union leaders finally sealed a Brexit deal on Sunday, saying the package agreed with Prime Minister Theresa May was the best Britain will get in a warning to the British parliament not to ...
U.S. P/C Industry Nine Month Results Continue Rebound Toward Big Profits: A.M. Best
The U.S. property/casualty insurance industry's net underwriting income has so far swung from a massive loss in 2017 to substantial profit, according to a new A.M. Best report. Carriers booked $3.5 ...
Startup Understory Raises $7.5M; Produces Weather Data for Insurers, Others
Understory, a producer of weather and related analytics data for insurers and others, raised $7.5 million in new financing designed to help propel an international expansion. The Wisconsin-based ...
Generali Commits More than $4B for Acquisitions, Growth Options
Generali has earmarked up to four billion euros ($4.5B) or acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia to fuel earnings. Italy's top ...
Anbang Insurance Reportedly Hiring Bank of America to Sell U.S. Luxury Hotel Group
Anbang Insurance Group Co. has hired Bank of America Corp. to help sell a portfolio of U.S. luxury hotels formerly known as Strategic Hotels & Resorts Inc. as it continues to reverse a global ...
Actuarial Society Merger Talks End After CAS Board Vote
Last week, during the group's annual meeting in Las Vegas, the Casualty Actuarial Society's board put an end to plans that would have merged the organization with its life insurance counterpart, the ...
Global Property, Mortality Protection Gap Hits $500B: Swiss Re
Households and businesses face a $500 billion global property and mortality protection gap, according to Swiss Re's latest sigma study. Swiss Re's report said that the figure illustrates increasing ...