International
AXA CEO Expresses Confidence in XL Biz After Coronavirus-Related Losses
The CEO of AXA on Thursday expressed confidence in the French insurer's company-focused XL Group after the business reported a loss in the first half following a spike in COVID-19-related claims. AXA ...
Multiple CNA Commercial Lines Took a Q2 COVID-19 Hit
CNA Financial Corp. saw its 2020 second quarter net income sliced almost by half compared to the previous year due to "considerable catastrophe losses" from COVID-19, civil unrest and weather-related ...
Black Lives Matter Protests Spur AIG Promise to Develop Equality Action Plans
AIG CEO Brian Duperreault said the insurer is taking steps to address racial equality and improve diversity – issues raised globally by examples of police brutality and the Black Lives Matter ...
AI Tech Firm Expert System Raises $29.4M; Clients Include AXA XL, Lloyd’s, Zurich
Expert System, a global artificial intelligence company with many property/casualty insurance industry clients, raised $29.4 million in a new financing round. Of that total, $20 million came from ...
U.S. Reportedly Pursuing Nearly $13B of Claims in Purdue Pharma Opioid Probes
U.S. prosecutors are pursuing possible penalties of nearly $13 billion to resolve investigations of OxyContin maker Purdue Pharma after uncovering evidence of criminal and civil misconduct stemming ...
Allianz Q2 Net Profit Dropped Nearly 30 Percent, Shaped by Coronavirus Uncertainty
German insurer Allianz on Wednesday posted a 29% fall in net profit in the second quarter from a year earlier and shied away from updating its full-year profit guidance as the coronavirus pandemic ...
AIG President Zaffino: COVID-19 Creating ‘Flight to Quality’
AIG President and Chief Operating Officer Peter Zaffino said that the insurer has seen accelerated rate improvements and other gains as clients react to the ongoing COVID-19 pandemic. "We believe ...
Covea Investment Helps Normalize Exor Relationship After It Abandoned PartnerRe Acquisition
Italy's Exor said on Monday that French insurer Covea had agreed to invest a total of 1.5 billion euros ($1.8 billion), partly in entities managed by PartnerRE, after walking away from a deal to buy ...