Insurance

Japanese insurer Tokio Marine has paused the sale of its $1 billion Southeast Asia life insurance business, partly due to a dispute with a Malaysian partner over an expiring products distribution agreement, four sources with knowledge of the matter said. …

This edition of International People Moves details appointments at AXA XL Reinsurance and Specialist Risk Group. A summary of these new hires follows here. AXA XL Re Taps Swiss Re’s Schiffer as CEO, North America, Reinsurance AXA XL Reinsurance announced …

Coalition, the San Francisco-based cyber managing general agent and cybersecurity firm, has become the first cyber insurance provider in the UK to launch a service dedicated to recovering funds stolen by cyber attackers. The cyber insurer’s new UK “clawback” service …

The UK said three government bodies are working together to challenge Russian shadow fleet oil tankers if it perceives they have dubious insurance. An announcement from the country’s Foreign, Commonwealth and Development Office didn’t specify how such interventions would occur, …

Insurance industry investments in generative AI are expected to surge by over 300 percent from 2023 to 2025 as organizations move from pilots in one or two areas to implementations in multiple functions across business lines. But new research identifies …

Centuries ago, estuaries around the world were teeming with birds and turbulent with schools of fish, their marshlands and endless tracts of channels melting into the gray-blue horizon. Fast-forward to today, and in estuaries such as New York Harbor, San …

McKinsey & Co. is nearing a deal with US prosecutors to pay at least $500 million to settle federal probes into its past work helping opioid makers boost sales, according to people familiar with the matter. A settlement, which could …

Survivors of last year’s deadly wildfire that decimated a historic Maui town will receive an additional year of housing assistance from the Federal Emergency Management Agency. Housing has been a major challenge in recovering from the Aug. 8, 2023, Lahaina …

Moody’s RMS has pegged private insured losses from Hurricane Milton to between $22 billion and $36 billion, with a best guess of $26 billion. The Newark, California-based catastrophe modeler also narrowed its range for insured losses from hurricanes Milton and …

Investigators are trying to figure out what led to an elevator accident inside a former Colorado gold mine that killed a tour guide, injured four others and left a separate group of 12 people trapped for hours at the bottom …