Posts by Hometown Insurance

Warren Buffett’s buying of Japanese trading firms helped propel the nation’s stocks to multi-decade highs. Six months on, insurers and banks are emerging as the next potential value targets. Insurers have low price-to-book ratios, strong fundamentals and relatively high returns, …

Xceedance, a global provider of strategic operations support, technology, and data services to insurance organizations, announced the launch of burst capacity catastrophe modeling resources to support reinsurers during peak renewal times. In the lead up to a renewal, reinsurers see …

Britain’s accounting regulator on Thursday fined KPMG a record 21 million pounds ($26 million) for a “textbook failure” in audits of Carillion, the builder that imploded in 2018 and prompted a root and branch review of auditing standards. The collapse …

In a global first, Europe’s main bank regulator is revising the framework that sets capital requirements so that lenders reflect environmental and social risks in mandatory, industrywide buffers. The European Banking Authority has identified “some short-term fixes” to minimum requirements …

Power grid operators around the Baltic Sea are beefing up protection of subsea cables and other critical infrastructure after the suspected sabotage on a gas link between Finland and Estonia last weekend. Government officials in Lithuania ordered more naval patrols …

MGM Resorts International Chief Executive Officer Bill Hornbuckle chose not pay a ransom to hackers who broke into his casino chain’s computer system because they didn’t ask for money until well after the company discovered the attack. The intruders moved …

Generali said on Thursday that it has reached an agreement with German insurance heavyweight Allianz for the sale of TUA Assicurazioni for 280 million euros ($295 million) in cash. Mediobanca, Banca di Credito Finanziario and Rothschild & Co acted as …

Big multistate operators often get the bend-over-backward treatment from all service providers, but what are insurance brokers looking to get the same treatment for their small-to-midsize client to do? It turns out, there’s a lot that can be done to …

Israel’s parliamentary finance committee approved a plan to provide a state guarantee of $6 billion to cover insurance against war risks to Israeli airlines, the Finance Ministry said on Thursday. The guarantee framework will grant Israeli airlines insurance policies against …

Google said on Thursday that it will defend users of generative artificial-intelligence systems in its Google Cloud and Workspace platforms if they are accused of intellectual property violations, joining Microsoft, Adobe and other companies that have made similar pledges. Major …