Industry News
AXA Extends Climate Change Policy to Newly Acquired XL Division
AXA, France's biggest insurer, has extended its climate change policy to its recently acquired XL division, joining a growing list of European insurers that have taken action to help to tackle global ...
California Utility Won’t Escape Wildfire Liabilities With Option It Seeks
PG&E Corp., suspected of starting California's deadliest wildfire, may soon get help from state lawmakers -- just not the help it most wants. As early as Dec. 3, a lawmaker plans to introduce a ...
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 ...