Knight Insurance Group in California has named Vance Ownbey its managing director overseeing programs, underwriting, new business and product development. Ownbey previously was chief financial officer, chief technical officer, treasurer and managing director at Knight. He has held several other …
Two cyber security firms have uncovered malicious software that they believe caused a December 2016 Ukraine power outage, they said on Monday, warning the malware could be easily modified to harm critical infrastructure operations around the globe. ESET, a Slovakian …
W.R. Berkley Corp. said it has formed two subsidiaries in Mexico: Berkley International Fianzas México S.A. and Berkley International Seguros México S.A. Both have been granted official authorization to commence operations and will begin offering coverages to clients throughout Mexico …
The Hartford has named Robert Paiano as its new chief risk officer to lead the company’s enterprise risk management operations, effective July 1. Paiano succeeds current Chief Risk Officer Robert Rupp, who is retiring. Paiano will report to The Hartford’s …
Insurer MAPFRE, which already owned 31 percent of the insurer, has gained 51 percent and effective control of Indonesian insurance company PT Asuransi Bina Dana Arta Tbk (ABDA). The transaction was closed at a price of 90 million euros. Through …
Large shipping losses have declined by 50 percent over the past decade and last year saw the lowest number of losses in the past 10 years. The favorable loss trend has been largely driven by improved safety, according to Allianz …
Peak Reinsurance Co. Ltd., a Hong Kong-based reinsurer, has been granted the approval-in-principle by the Labuan Financial Services Authority to carry on general reinsurance business in and through the Labuan insurance market. Labuan is the the federal territory of Malaysia. …
Reduced market access, regulatory fragmentation, the return of inflation and cloud risk accumulation pose the largest challenges with the highest downside risk potential in the short term, according to experts at Swiss Re. Other risks further out on the time …
Rogers & Gray Insurance, a Kingston, Mass.-headquartered independent insurance agency, has hired Peter Cullivan as its first chief information officer, effective June 2. In this newly-created senior management position, Cullivan will direct the technological advancement of the agency. Cullivan has …
The former general manager of a now-defunct New Jersey car dealership who got nearly $3 million through a fraud scheme has been sentenced to five years in prison. Richard Pepe had pleaded guilty to bank fraud and filing a fraudulent …
