Industry News
Aspen Insurance Will Go Private in $2.6B Sale to Investment Manager Apollo
Aspen Insurance Holdings Ltd said on Tuesday certain funds affiliated to alternative investment manager Apollo Global Management LLC will take the insurer private in an all-cash transaction valued at ...
Allstate Will Acquire Identity Protection Company in $525M Cash Deal
The Allstate Corp. is expanding into the identity protection space with a planned $525 million acquisition of InfoArmor Inc. Allstate will pay cash for the privately held Scottsdale, Ariz. company ...
COUNTRY Financial CEO Bock Plans to Retire in January
COUNTRY Financial CEO Kurt Bock plans to retire early next year, the insurance and financial services group has disclosed. Bock's retirement is effective Jan. 31, 2019, capping seven years as chief ...
Chubb Licenses Duck Creek Technology Software for Global Use
Chubb has licensed Duck Creek Technology software products for use in all of its global business units. Financial terms were not disclosed. Chubb Chief Information Officer Monique Shivanandan said ...
U.S. P/C Insurance Underwriting Income Reflects a Big Rebound in H1: A.M. Best
The U.S. P/C insurance industry saw its net underwriting income rebound substantially in the first half of 2018, according to a new A.M. Best special report. That number reached $5.3 billion for H1 ...
Reinsurance Consolidation Won’t Let Up Anytime Soon: Standard & Poor’s
Expect more reinsurance M&A deals in the coming months as reinsurers seek to remain competitive through tough market conditions, S&P Global Ratings predicts in a new report. According to ...
China’s Ping An Insurance Is Suing U.S. Broker Over Use of Its Name
China's giant Ping An Insurance Group is suing a California-based wholesale brokerage over its use of the name Ping An. The Chinese financial services firm is demanding that Ping An Insurance Center ...
Record Rain From Hurricane Lane Causes Hawaii Floods and Landslides
A weakening Hurricane Lane has brought record rainfall to Hawaii, where flooding threatens $8 billion of homes. In 12 hours, 16.48 inches (42 centimeters) of rain fell on the Big Island of Hawaii, ...