Industry News
AmTrust Raising $950M by Selling Stake in Some Businesses to Private Equity Firm
AmTrust Financial Services will make about $950 million by selling a majority equity interest in some of its U.S.-based fee businesses to private equity firm Madison Dearborn Partners. Barry Zyzkind, ...
The Latest Launches From CNA, Starr Companies and BHSI
CNA added a new online feature to its small business services coverage and products. Starr Companies will start offering drone coverage through to members of a key trade association. Berkshire ...
UK Regulator Launch Investigation of Wholesale Insurance Brokers
Britain's financial services industry regulator is to launch later this week a long-promised investigation into competition in the wholesale insurance broking market, where one top executive has ...
Attune, a Digital Small Business Insurer, Hires Starr, OnDeck Execs in Leadership Roles
Digital small business insurer Attune has named Martha Dreiling as head of Analytics and Corporate Operations and Richard E. Stamets as head of Underwriting Strategy. Dreiling oversees Attune's ...
Hurricanes, Quakes Hammer Berkshire Hathaway’s GEICO, Gen Re, Other Insurance Units
Bad weather hurt Warren Buffett's Berkshire Hathaway Inc in the third quarter, as insurance losses tied to Hurricanes Harvey, Irma and Maria and an earthquake in Mexico contributed to a 43 percent ...
Hurricanes Also Hurt Liberty Mutual’s Q3 Results
Liberty Mutual Holding Co. Inc. reported a net loss of $665 million for the three months ended September 30, 2017, versus net income of $455 million for the same period in 2016. The net loss in the ...
AIG’s $836M Reserve Boost Spooks Investors; Shares Drop
American International Group Inc shares sank 4.5 percent on Friday as investors reacted to a surprise $836 million boost to the insurance giant's reserves, related to prior-year accident claims. AIG ...
First Commercial Carrier Approved in California to Sell Cannabis Insurance
Since last year, Californians are allowed to grow and possess marijuana. Now, the most populous U.S. state has taken another step to bolster the cannabis business by deciding to give insurance cover ...