News

Private Equity Investors Pelican Ventures, J.C. Flowers to Buy Ariel Re from Argo Group

Pelican Ventures and J.C. Flowers & Co., both private equity investors with significant insurance expertise, announced they have agreed to acquire reinsurance franchise Ariel Re from Argo Group for an undisclosed sum. Ariel Re is a global underwriter of property …

AIG’s Plan to Divest Life & Retirement Business Could Prompt Ratings Downgrades

American International Group’s plan to downsize by divesting its Life & Retirement (L&R) business is drawing cautious and wary reactions from rating agencies that follow the property/casualty insurance giant. They said that they’re worried about what the divestiture will do …

Guy Carpenter Launches Mutual, Agency and Captive Reinsurance Solutions Practice

Guy Carpenter & Co., the reinsurance broker subsidiary of Marsh & McLennan Cos., announced the launch of a new marine & energy mutual, agency and captive reinsurance solutions practice, and the appointment of Demian Smith as managing director to lead …

Update: Insurance Price Tag from Hurricane Zeta Estimated at $4.3B in U.S.

Insurers are bracing for a hit of about $4.3 billion from Hurricane Zeta in the United States, catastrophe modeling company Karen Clark & Co (KCC) said on Monday. At least six people were killed in the southeast of the United …

Russia-Based Hackers Plan New Wave of Attacks Against U.S. Hospitals: Security Firm

A Russia-based ransomware group responsible for a new wave of attacks against U.S. hospitals is laying the groundwork to cripple at least ten more, according to the cyber-security firm Prevailion Inc. Prevailion’s analysis comes a day after the FBI and …

Rescue Efforts Continue After Earthquake Strikes Turkey, Greece with at Least 57 Dead

IZMIR, Turkey – Rescue workers extricated a 70-year-old man from a collapsed building in western Turkey on Sunday, some 34 hours after a strong earthquake in the Aegean Sea struck Turkey and Greece, killing at least 57 people and injuring …

CoreLogic Shareholders Should Support Dissident Nominees for Board, Says ISS

Two investors pushing CoreLogic Inc. to explore a sale won partial support from a prominent shareholder advisory firm, which urged shareholders to support three of the dissident group’s nominees for the board. Institutional Shareholder Services Inc. said investors should elect …

Brexit Negotiations to Continue This Week as EU, UK Push to Save Trade Deal

EU and British Brexit negotiators will continue talks in Brussels on Monday and until around mid-week, sources on both sides said on Sunday, in a sign both sides are still pushing to avoid a damaging breakdown in trade in less …

Tropical Storm Eta Ties 2005 Record for Most Named Atlantic Storms in One Year

Tropical Storm Eta formed overnight [on Sunday, Nov. 1] in the Caribbean, becoming the Atlantic’s 28th storm of 2020 and tying a 2005 record for the most named systems in a single year in records going back to 1851. Forming …

Australian Pension Fund Agrees to Settle Landmark Climate Risk Litigation

SYDNEY — One of Australia’s largest pension funds on Monday agreed to settle a landmark climate risk litigation filed by a 25-year-old member who alleged it was failing to protect his retirement savings against climate change. REST acknowledged in a …

News Archives by Month