Industry News
Allianz Joins IFC Global Infrastructure Program With $500M Investment
World Bank Group member IFC is launching a program designed to raise $5 billion for infrastructure development in emerging markets. Allianz is among the global investors. IFC, a global development ...
A ‘Hard Brexit’ Could Cost British Finance Firms $48.3B in Revenue
Britain's financial industry could lose up to 38 billion pounds ($48.34 billion) in revenue in a so-called 'hard Brexit' that would leave it with restricted access to the European Union's single ...
Online CyberPolicy Sales a Reality; CoverHound’s Site Is Live for Small Biz
Two weeks after unveiling business insurance offerings like workers compensation and general liability for small businesses on its online platform, CoverHound is launching another ...
SOMPO to Grab Endurance for $6.3 Billion in International Expansion Move
SOMPO Holdings Inc. agreed to buy Bermuda-based insurer Endurance Specialty Holdings Ltd. for about $6.3 billion, the company's biggest acquisition as it expands further outside of Japan. The ...
RMS Keeping an Eye on Hurricane Matthew
Catastrophe risk modeler RMS is keeping an eye on Hurricane Matthew, one of the most powerful North Atlantic hurricanes in recent history. Matthew, which briefly reached Category 5 strength on Oct. ...
Praedicat Signs Swiss Re to New Liability Insurance Risk Modeling Platform
Praedicat, a liability catastrophe modeling company, released its new liability insurance risk modeling platform and says it has secured Swiss Re as its first licensee. The new platform, known as ...
AIG Transfers 25,000 Brazilian Auto Policies to Porto Seguro Unit
American International Group Inc.'s business in Brazil agreed to transfer about 25,000 auto policies to a unit of Porto Seguro SA as the U.S. company scales back its international businesses. The ...
AXA CEO Reportedly Denies Plans to Merge With Large Rivals
French insurer AXA has no plans to merge with large rivals, its chief executive told a German newspaper, responding to recent speculation about a possible takeover of Italian peer Generali. "That ...