News
Travel Business Dip, Catastrophes Leave Arch Capital With Insurance Underwriting Loss
Arch Capital Group reported a huge jump in fourth quarter net income, thanks in part to rate hikes and new business. But the Bermuda-based carrier's insurance business experienced an underwriting ...
Facebook Confronted With New UK Class Action Over Data Harvesting Scandal
Facebook is facing a second London High Court class action over allegations it failed to protect the personal details of about one million people in England and Wales, in the latest lawsuit to spring ...
No Post-Brexit Big Capital Reduction Requirements for UK Insurers: Bank of England
The Bank of England told insurers on Wednesday not to expect any big reduction in capital requirements after Brexit, adding that more capital could be "part of the answer" to meeting a 1.7 billion ...
Startups Focused on Data Observability, Digital Wallet Tech and Risk Management Obtain Financing
Tech startup Monte Carlo raised $25 million in new Series B financing to help build its Data Observability platform. New York-based InsurTech Marble raised $2.5 million in early-stage funding that ...
Willis Towers Watson CEO Pledges Merger With Aon on Track for H1 2021
The merger of Aon with Willis Towers Watson is on course to close in the first half of 2021, said John Haley, Willis Towers Watson's chief executive. "In March of last year when we first announced ...
Toyota Teams With Two Companies on Autonomous Minivans for Ride Hailing Networks
Toyota Motor Corp and longtime supplier partner Denso Corp will team up with self-driving car startup Aurora to develop and build autonomous minivans for ride hailing networks, the companies said on ...
Metromile Becomes a Public Company Feb. 10 After Reverse Merger Deal Closes
Digital pay-per-mile auto insurer Metromile will officially become a public company tomorrow as the deal to be merged with a special purpose acquisition company (SPAC) is expected to close today. ...
P/C Insurer Net Income Plunged 27% Through September 2020, Pushed by Catastrophes
U.S. property/casualty insurance net income dropped by more than a fourth in the first nine months of 2020 as the industry was hammered by COVID-19 and an historic catastrophe season, according to a ...