AXA XL Insurance announced the appointment of Simona Fumagalli as head of International Financial Lines, Europe, based in Milan. In her new role, Fumagalli will be responsible for developing the business line’s underwriting strategies and product offering for Europe. In …
Arch Capital Group Ltd. has entered into an agreement to purchase Barbican Group Holdings Ltd. from funds managed by Carlson Capital, a U.S.-based alternative asset management firm, subject to regulatory approval. The acquisition includes Barbican Managing Agency Ltd., Lloyd’s Syndicate …
Space rockets and satellites are likely to cost more to insure after the European Vega rocket crash this month, which hit insurers with a record space market loss of 369 million euros ($411.21 million), insurance industry sources say. The Vega …
The Allstate Corp. said its second quarter results show that its strategy of increasing its market share in property and liability insurance products while also expanding into other protection products is working. Overall net income was $821 million compared to …
Seven in 10 senior financial executives at the world’s largest companies believe their insurer would cover most or all of the losses their company would incur in a cyber attack. Many of the losses they foresee, however, are rarely covered …
Fast-growing insurer FWD is seeking to launch operations in China ahead of any public offering and plans to bolster its non-life business in Asia, its chief executive said, as a potential shake-up looms in the region’s insurance sector. FWD, controlled …
Swiss Re’s first-half net profit fell 5.3%, as claims relating to the Ethiopian Airlines crash and the subsequent grounding of the Boeing 737 MAX, plus natural catastrophes took their toll. The world’s second-largest reinsurance company highlighted claims from last year’s …
I received this question recently. “Will my customer’s personal auto policy cover their adult child that has moved out of their house?” That’s a pretty good question and I’m glad it was asked. Thankfully, I was able to see the …
Five major retailers, including Amazon.com Inc and Walmart Inc, were sued on Tuesday by the University of California over what it called the “existential threat” when foreign manufacturers infringe schools’ patents. Amazon, Walmart, Target Corp., Ikea AB and Bed Bath …
The Hilb Group LLC (THG) has acquired Rhode Island-based Damiano Agency (DA). The transaction became effective July 1, 2019. For more than 30 years, DA has been delivering property and casualty insurance for businesses and individuals in the Rhode Island …
