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AXA Agrees to Purchase Laya Healthcare From AIG for €650 Million

AXA announced it has entered into an agreement to acquire Laya Healthcare Ltd. from Corebridge Financial Inc., a subsidiary of AIG. Laya has a leading position in the Irish health market with approximately a 28% market share, serving close to …

Russia Strikes Ukraine’s Danube Port. Kyiv Says Aim Is to Intimidate Insurers, Shippers.

Russia attacked Ukraine’s main inland port across the Danube River from Romania on Wednesday, sending global food prices higher as it ramped up its use of force to prevent Ukraine from exporting grain. The drone attacks destroyed buildings in the …

Beijing Hit With Heaviest Rainfall in at Least 140 Years

China`s capital has recorded its heaviest rainfall in at least 140 years over the past few days. The city recorded 744.8 millimeters (29.3 inches) of rain between Saturday and Wednesday morning, the Beijing Meteorological Bureau said on Wednesday. The record …

Cyberattack on Norway Ministries Lasted at Least Four Months

A cyberattack on Norway’s government ministries uncovered last week had exploited a vulnerability linked to mobile device management and lasted at least four months, according to Norwegian and US cybersecurity agencies. A vulnerability affecting Ivanti Endpoint Manager Mobile allowed advanced …

France’s AFP Sues Musk’s X Social Media, Citing Refusal to Discuss Payment for News

Agence France-Presse (AFP) said on Wednesday it filed a lawsuit in Paris against Elon Musk’s X social media platform, formerly known as Twitter, accusing it of failing to discuss potential payment for the distribution of the news agency’s content. France …

Ratings Firms Struggle With Climate Risk in $133 Trillion Market

With 46 straight days of 100-degree heat and coastal waters approaching hot-tub temperatures, Miami can seem like a clear example of the costs of a warming world. But analysts at S&P Global Inc. aren’t sweating it. They recently upgraded Miami’s …

Europeans Lack Insurance Protection as Wildfires and Drought Batter the Region

Europeans are among the least insured against certain types of extreme weather and other natural disasters in the developed world, a predicament made more worrisome as the continent suffers a summer of devastating heat, wildfires and drought. In recent months, …

People Moves: McGriff Restructures Personal Lines Operations; Tinubu Appoints Edwards as Surety COO

Retail broker McGriff said it has restructured its personal lines operations to allow for direct support to the private client sales and service functions within the division, following a period of substantial growth and profitability for the line of business. …

Report: Auto Insurance Premiums Rise 17% in H1 of 2023

Car insurance premiums are skyrocketing primarily due to rising auto parts costs and extreme weather, according to virtual insurance agent platform Insurify’s Q3 2023 Mid-Year Auto Insurance Trends Report. In the first six months of this year, car insurance premiums …

People: MCIEF Names Heller to Ruke Fellowship

The Motor Carrier Insurance Education Foundation (MCIEF), a nonprofit that educates insurance professionals serving the transportation industry, has named Dave Heller as a Thomas Ruke Fellow. The fellowship honors the most dedicated educators and provides lifetime rights to all foundation …

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