Industry News
Prudential Financial Will Buy 13.1% Stake in Peak Re
Prudential Financial is buying a 13.1 percent stake in Hong Kong-based reinsurer Peak Reinsurance Co. Ltd. The deal is taking place through a wholly owned subsidiary of Prudential Financial Inc. ...
Cybersecurity High on Executives’ Lists; Relatively Few Have Plan to Address It
Most executives now see cybersecurity as a major risk management priority, but relatively few have a plan in place to address it or are confident their companies can deal with the problem. The ...
Brexit Risks Making London Lose Ground to New York as Global Financial Center
The U.K.'s exit from the European Union will be a watershed moment for the City of London and weaken its role as one of the world's leading financial centers, Bundesbank Executive Board Member ...
DroneBase Raises $12M in New Financing; Insurers Among Drone Operator’s Customers
DroneBase raised $12 million in new funding to expand its drone operations services for insurers and other businesses. Union Square Ventures and Upfront Ventures co-led the round. DJI and new ...
Buffett’s Berkshire Hathaway Boosts Stake in Apple, Buys Teva Shares
Warren Buffett's Berkshire Hathaway Inc on Wednesday disclosed a new stake in generic drugmaker Teva Pharmaceutical Industries Ltd and said it bought more shares of Apple Inc, which surpassed Wells ...
Insurers May Not Be Able to Avoid Blockchain, Virtual Currencies ‘Sweeping Through Industry’
Insurers need to be thinking about blockchain technology and virtual currencies like bitcoin and how to approach these areas of emerging risk as they become harder to ignore, according to panelists ...
Commercial Property Rates Rising by Double Digits: Willis Towers Watson
Commercial property insurers are pursuing double-digit rate hikes in the wake of 2017's historic natural catastrophes and the $143 billion in global estimated insured losses they caused. But ...
Kemper, After Tough Q4, Will Pay $1.3B for Infinity Property and Casualty
Insurer Kemper Corp will acquire Infinity Property and Casualty Corp for about $1.3 billion in cash and stock to boost its nonstandard auto insurance business, the two companies said on Tuesday. ...