Insurance

ICEYE, the microsatellite manufacturer and catastrophe monitoring company, announced definitive agreement signed for an oversubscribed $93 million growth funding round. The financing will further accelerate investment in the world’s largest constellation of synthetic aperture radar (SAR) satellites and expand the …

CLEVELAND (AP) — Cleveland will pay $4.8 million to the family of a 13-year-old girl killed when a stolen car driven by a teenage carjacker jumped a curb during a police pursuit and struck her. The settlement attorneys for the …

Ping An Insurance’s first-quarter net profit fell 4.3%, hit by shrinking returns from property and casualty insurance as well as its asset management operations, the Chinese insurance giant reported on Tuesday. Turbulence in China’s stock market, declining interest rates and …

Jensten is set to further scale its scheme and affinities business with the acquisition of UK broker Robert Gerrard & Co. The deal, which is subject to regulatory approval, will introduce a dedicated team of 19 professionals and an office …

Standard Chartered Plc is facing about £1.5 billion ($1.9 billion) worth of investor claims at a London trial over allegations it systematically breached Iranian sanctions to win new business. A London judge ruled on Friday [April 19] that the trial, …

Zurich North America was ordered by a California jury to pay three former employees a total of about $80.2 million to end a wrongful termination case earlier this month. Melinda Brantley, Nicholas Lardie, and Daniel Koos worked as claims examiners …

Generative artificial intelligence (AI) has sparked a lot of interest from insurers and reinsurers because of its potential to revolutionize innovation, cut costs and improve the customer experience. Generative AI (or “Gen AI”) is the term used for technology that …

AM Best placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of the members of GeoVera Insurance Group in Fairfield, California. Coastal Select Insurance …

Omaha National Group Inc. acquired Sutter Insurance Co., a California domiciled carrier. Sutter Insurance has been renamed Omaha National Casualty Co. Omaha National also owns Omaha National Insurance Co., which is domiciled in Nebraska. Omaha National, now licensed to issue …

April Hurley’s attacker entered her apartment after identifying himself as the building maintenance man — a job he should never have obtained, according to a lawsuit filed Monday that accuses the property owner and management company of engaging in negligent …