Insurance
PE Firm Brera Partners Buys 70% of Shares in Italian Broker GBSAPRI Group
Brera Partners, a Zurich-based private equity firm specializing in investments in the asset-light financial services sector, announced it has acquired 70% of the shares in Italian insurance broker GBSAPRI Group, with the strategy to drive consolidation in Italy’s fragmented insurance …
Read More Microsoft Faulted for ‘Inadequate’ Cyber Practices in US Report
A Chinese-state intrusion last year of Microsoft Corp. technology that enabled hackers to gather US officials’ emails “should never have occurred,” according to a report released Tuesday from a government cyber review board. The Cyber Safety Review Board, a White …
Read More Viewpoint: Many Businesses May Be Exposed to Losses From Snow Melt Flooding
Executive summary: Snow melt flooding is an imminent threat in the U.S., but there are steps insurance professionals can take to mitigate their clients’ risk, says Richard Coyle, U.S. commercial director at FloodFlash. Catastrophic flooding is a major problem in …
Read More Worst Taiwan Quake in 25 Years Leaves Four Dead, Dozens Injured
Taiwan’s strongest earthquake in a quarter of a century leveled dozens of buildings on the eastern side of the island, killing at least four people and disrupting some chip production lines. The quake hit at 7:58 a.m. local time Wednesday …
Read More Swiss Re Names Berger as Group CEO, Succeeding Mumenthaler
Swiss Re announced that Andreas Berger will become group chief executive officer, effective July 1, 2024, taking over from Christian Mumenthaler, who will step down. “The board unanimously determined that Andreas Berger is the right person to build on the …
Read More Spinnaker Veterans Launch Fronting Start-Up Emerald Bay With Backing From Bain Capital
Emerald Bay Risk Solutions has launched as a property/casualty insurance fronting carrier, backed by Bain Capital Insurance and headed by a group of insurance veterans who have fronting experience. Calling itself a “collaborative underwriting carrier,” the new entity hopes to …
Read More KC Chiefs Player Cooperating With Police After Sports Car Crash in Texas
DALLAS (AP) — An attorney for Kansas City Chiefs player Rashee Rice said Monday that the wide receiver is cooperating with authorities after a speeding Corvette and Lamborghini sport utility vehicle caused a chain-reaction crash on a busy Dallas highway …
Read More Public Health Groups Sue FDA Again Over Delayed Menthol Ban
Public health groups sued US regulators a second time for failing to follow through on a plan to ban menthol-flavored tobacco products. The lawsuit filed Tuesday in a federal court in Northern California claims that the Food and Drug Administration …
Read More AIG Sues Newly Launched Dellwood Insurance and its Founders
American International Group and a group of its excess and surplus lines subsidiaries have filed suit against Dellwood Insurance Group and three former AIG executives who launched the nationwide E&S lines insurance holding company about a month ago. According to …
Read More Top US Egg Maker Idles Texas Plant After Bird Flu Outbreak
Cal-Maine Foods Inc., the biggest egg producer in the US, has culled roughly 3.6% of its flock after birds at a Texas facility tested positive for avian flu, adding to concerns over a widening outbreak. Nearly 1.6 million laying hens …
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