specialty insurance News
A Struggling AGCS Rolls Out Its Restructuring Plan
Allianz Global Corporate & Specialty (AGCS), the industrial insurer of Allianz Group, is embarking on a restructuring program it says is designed "to regain profitability and market leadership in ...
Markel International Narrows Focus to Entertainment; COVID-19 Costs to Blame
Markel International, the London-based specialist insurer and division of Markel Corp., has announced its wholesale business will now focus solely on the entertainment book of business within its ...
AXIS Coronavirus Loss Estimates Based on Quarantines Lasting Until July 31
AXIS Capital President and CEO Albert Benchimol said that most of the company's insurance policies don't cover coronavirus pandemic-related claims. There are some that do, however, and those costs ...
Insurance Firms Begin Covering Charter Flights Carrying Gold
Insurance firms have started covering charter flights to carry gold, helping to ease logjams in the bullion supply chain that caused prices to diverge sharply in different markets, the London Bullion ...
Grounded Airplanes Carry Insured Value of More Than $160B: Report
Airplanes with a total insured value of more than $160 billion are grounded around the world, presenting risks for insurers, a report said on Friday. Singapore has the largest number of planes ...
ISC, an InsurTech and MGA, Makes Fourth Acquisition Since 2016 Launch
Integrated Specialty Coverages, an InsurTech startup and managing general agent, recently acquired Access Partners Insurance Services, a multiline wholesale broker. Neither side disclosed financial ...
Lloyd’s Asks Members for Estimates of Coronavirus-Related Losses
Lloyd's of London has asked its member firms to provide estimates of their potential current and final losses from coronavirus, a spokesman said on Tuesday, to help the insurance market understand ...
Tokio Marine HCC to Acquire MGA GCube, Eyeing More Renewable Energy Risks
Tokio Marine HCC has agreed to snatch up GCube, a managing general agent with a focus on renewable energy risks. The deal is expected to close in the 2020 second quarter, pending the usual regulatory ...