Some of the world’s largest insurers are eagerly pitching cities, states and even school districts on policies designed to pay out quickly with few questions in the event of extreme weather. The catch: Even a hurricane might not be extreme …
It’s not often that you hear about a $24 billion deal brewing in the financial services industry. It’s even rarer that it goes from confirmation to breakup in less than a day. On Tuesday afternoon, Aon Plc confirmed a Bloomberg …
New York’s insurance regulator issued a subpoena to the Trump Organization’s primary insurance broker, a person familiar with the matter said. It came just days after President Donald Trump’s former personal attorney testified to Congress that the president’s company sometimes …
Aon Plc is considering a combination with rival insurance brokerage Willis Towers Watson Plc, in what could be the industry’s largest ever merger. Aon is in the early stages of exploring an all-share tie-up with Willis Towers, it said in …
Ride-sharing giants Lyft Inc. and Uber Technologies Inc. seem to have found the same solution for dealing with the risks of managing millions of drivers on the road: Creating their own insurers in Hawaii. On Friday, Lyft told potential investors …
Warren Buffett used his annual letter to heap praise on Tony Nicely, the long-time chief executive officer of Berkshire Hathaway Inc.’s GEICO insurance unit. The letter also offered some perhaps surprising news: Nicely retired as CEO last year. Nicely handed …
California’s deadly wildfires are raising the specter of higher insurance premiums for homeowners in the state. After “two significant years in a row of losses, I think the discussion and the debate about the environment is pretty broad and pretty …
MetLife Inc. appointed Michel Khalaf president and chief executive officer, succeeding Steven Kandarian. Khalaf, 54, will take over on May 1, the company said Tuesday in a statement. He is currently president of the company’s U.S. and Europe, Middle East …
Allstate Corp. tumbled for nine straight days, the longest string of losses since 2001, as coverage costs from the deadliest fires in California’s history are tallied. The company seemed to have “out-sized exposure” to the location of the blazes, Wells …
California’s raging wildfires are so bad that American International Group Inc. and Chubb Ltd. are deploying teams of specialists and former firefighters to spray retardants on homes. The season may soon rank among the industry’s most costly. The latest blazes …
