Posts by Hometown Insurance

DUAL, the London-based managing general agent, announced the acquisition of David Ashby Underwriting Ltd. (DAU), an MGA that specializes in bloodstock and high value sports horse insurance. Financial details of the deal were not disclosed. DUAL said, the acquisition cements …

Warren Buffett’s Berkshire Hathaway Inc. posted gains in operating profit as strength in its insurance businesses helped counter inflationary pressures that have weighed on the sprawling conglomerate in the last year. The firm reported $10.04 billion of operating profit for …

Investors in cyber risk solution company Resilience have contributed yet again – $100 million in a series D equity financing round – a testament to the company’s business model and results, its leaders said. With reports of a decline in …

A U.S. judge has rejected former Allianz fund manager Gregoire Tournant’s bid to dismiss a criminal fraud case over his role in causing more than $7 billion of investor losses. In an order made public on Friday, U.S. District Judge …

SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, and Eaton Gate, a London-based managing general underwriter (MGU), announced a new partnership. Eaton Gate writes in excess of £100 million GWP through its group of managing general agents (MGA) and is …

Australia will drastically toughen penalties against promoters of dodgy tax schemes and beef up regulatory powers under reforms announced on Sunday in response to a scandal over the use of leaked fiscal plans by PwC Australia. The leak of the …

Thirty-seven Ericsson shareholders are suing the Swedish telecoms company for a combined 1.8 billion Swedish crowns ($170 million), saying its CEO’s disclosure of activities in Iraq depressed the stock, business daily Dagens Industri reported on Friday. Ericsson and CEO Boerje …

LJUBLJANA, Slovenia (AP) – Slovenia has faced the worst-ever natural disaster in its history, Prime Minister Robert Golob said Saturday, after devastating floods caused damage estimated at half a billion euros ($550 million). The floods were “the biggest natural disaster” …

A U.S. judge hearing the Justice Department’s antitrust lawsuit accusing Google of unlawfully maintaining monopolies in the internet search market let stand key claims made by the federal government. Google, a unit of Alphabet, had asked for summary judgment on …

Oxycontin maker Purdue Pharma on Friday asked the U.S. Supreme Court to reject the U.S. Department of Justice’s request to delay its multi-billion-dollar bankruptcy settlement resolving thousands of lawsuits against it over the opioid epidemic. The department’s bankruptcy watchdog last …