News
AM Best Raises Country Risk Level for Russia
The insurance rating firm AM Best said it has moved its country risk tier for Russia to a CRT-5 from a CRT-4 to reflect the "significantly heightened geopolitical, economic and financial system risk" ...
Kin Insurance Announces $82M First Close of Series D Round
Kin Insurance, a direct-to-consumer home insurance company, announced the $82 million first close of its Series D round, with additional commitments for a second close totaling $18 million. The ...
Marsh to Exit Russia; Aon Suspends Operations
Marsh McLennan, the world's largest insurance broker, said on Thursday it would exit all of its businesses in Russia, while its rival Aon suspended operations in the country. "We intend to transfer ...
Tesla, Other Car Makers Have Edge Over Incumbent Insurers: Moody’s
Tesla and other car makers represent a growing threat to incumbent auto insurers, even though they have little direct impact on the insurance market today, Moody's Investors Services said in a report ...
Executives on the Move at AXA XL, At-Bay, Arch
AXA XL has appointed Nancy Bewlay as chief executive reinsurance with immediate effect. She assumes the role from Charles Cooper, who has decided to step down after more than 20 years as a senior ...
Google Boosts Cloud Security With $5.4B Mandiant Deal
Alphabet Inc's Google is buying cybersecurity firm Mandiant Inc for $5.4 billion in a deal that could trigger a "ripple effect" as cloud rivals Microsoft and Amazon also ramp up efforts to fortify ...
Russia’s Invasion of Ukraine to Spur More Claims Inflation: Moody’s
Although insurance penetration in Ukraine and Russia is low, global insurers will face secondary impacts from greater financial market volatility and higher energy prices, Moody's Investors Services ...
How Sanctions Against Russia Are Hitting Global Aviation Industry
Russia's size and close integration into the global aviation industry since the end of the Cold War means sanctions related to its invasion of Ukraine are having outsized consequences relative to ...