James River Group Holdings Ltd. announced that Fleming Intermediate Holdings has completed the $277 million acquisition of James River’s casualty reinsurance business – ending a period of legal wrangling that had threatened to derail the deal. The transaction, which was …
Liberty Mutual Insurance announced strategic updates in its ongoing restructuring of Global Risk Solutions (GRS), the company’s global commercial and specialty re/insurer and international insurance operations. The restructuring includes the creation of a new international insurance business division, the unification …
Plans by Britain’s financial regulator to require firms to set targets for improving diversity could be counterproductive, UK business and women minister Kemi Badenoch said on Thursday. The Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority …
CFC, the London-based specialist insurer, announced it has agreed to acquire Australian managing general agent, Solution Underwriting. Financial details of the deal, which is expected to complete on April 30, 2024, were not disclosed. CFC has been trading in Australia …
The world’s leading group of asset owners committed to turning their investment portfolios green said on Thursday it had set guidance for private assets for the first time and would also look to improve assessment of emissions tied to sovereign …
Global insured losses from natural catastrophes in the first quarter were estimated at $20 billion, with US claims accounting for more than $15 billion, or 75%, of the Q1 total, according to a Gallagher Re in a report. Despite a …
A drought driven by the El Nino weather pattern is likely to trigger insurance payouts to four southern African countries who took out cover with an agency of the African Union. Malawi, Zambia, Zimbabwe and Mozambique will receive payments at …
Nord Stream’s insurers have denied that their policies provide cover for gas pipelines damaged by blasts in 2022 because the damage was caused by war, in their written defense to a lawsuit filed at London’s High Court. Nord Stream is …
Climate change will inflict losses to the global economy worth an annual $38 trillion by 2049, as extreme weather ravages agricultural yields, harms labor productivity and destroys infrastructure, according to researchers at the Potsdam Institute for Climate Impact Research (PIK). …
The rising cost of car insurance has triggered a barrage of complaints in the cost of living crisis, Britain’s financial watchdog told lawmakers on Wednesday, as the sector insisted that prices remain at 2018 levels in real terms. Matt Brewis, …
