Industry News
France’s AXA to Acquire P/C Insurer XL Group for $15.3B
AXA SA agreed to buy XL Group Ltd. for $15.3 billion in cash, seeking to capture a bigger slice of the U.S. property and casualty market as premiums rise after last year's natural disasters. The ...
Insurers Pursuing IT Transformations Must Up Their Recruiting Game
Insurance industry demand for talent in areas such as big data will likely "exceed available supply by a factor of four," according to a new blog posting from McKinsey & Company. That reality ...
NAMIC CEO Chamness Sounds Off on Flood Insurance and Disaster Relief Reform
Reform of the National Flood Insurance Program remains an unresolved issue. Congress must reauthorize the debt-ridden Federal Emergency Management Agency-managed program by March 23. It already has ...
Generali Reportedly Evaluating Bids for German Life Biz
Athene Holding Ltd. and Viridium Group GmbH submitted binding bids for Assicurazioni Generali SpA's 40 billion-euro ($49 billion) German life insurance portfolio, according to people with knowledge ...
Shah Departs as RMS CEO; Silicon Valley Vet White Replaces Him
Hemant Shah is out as CEO of catastrophe modeler RMS, and veteran Silicon Valley technology executive Karen White has been appointed to replace him. It is unclear if Shah, who is also an RMS ...
Pie Insurance Rolls Out First Online Workers Comp Policies in 4 States
Pie Insurance said it is ready to start selling its first workers compensation policies, and the InsurTech startup expects to be operating in 15-20 states by the end of 2018. Policies are slated to ...
Global Insurers Flock to Luxembourg, Prepping for Post-Brexit Operations
More than 20 major international institutions chose to set up all or part of their activities in Luxembourg last year, the country's financial development agency said on Thursday, linking the ...
Chubb Won’t Cover Harvey Weinstein’s Legal Defense
Insurer Chubb Ltd is refusing to pay for Harvey Weinstein's legal defense against 11 lawsuits that accuse the movie producer of sexually harassing or assaulting women over the past three decades, ...