Insurance

Amynta Group, the New York-based insurance services provider, announced the completion of the previously announced acquisition of Sutton Special Risk Inc., a managing general underwriter (MGU) of specialty insurance and reinsurance products in Toronto, Canada. Financial details of the deal, …

AM Best delivered 39 downward credit rating actions to U.S. personal lines insurers in 2023, more than twice the number registered for 2022, the rating agency reported in it official tally for the year. Additional downgrades of 15 commercial insurers …

Italian insurance giant Assicurazioni Generali SpA has the financial means for acquisitions that fit its template for value creation, according to Chief Executive Officer Philippe Donnet. “We are considering very strict discipline for M&A which allows value creation,” Donnet said …

Meta Platforms Inc. sued one of its former vice presidents for what it called a “stunning” betrayal in his defection to a “stealth” AI cloud computing startup. Dipinder Singh Khurana, also known as T.S. Khurana, had worked at Meta for …

FORT LAUDERDALE, Fla. (AP) — Federal investigators determining why a Florida condominium tower partially collapsed three years ago, killing 98 people, said Thursday there were many faulty support columns in the tenant garage that ran below it and the adjoining …

TAMPA, Fla. (AP) — HCI Group Inc. (HCI) on Thursday reported fourth-quarter earnings of $38.1 million, a significant improvement over Q4 2022. The Tampa, Florida-based company said it had profit of $3.40 per share. Earnings, adjusted for non-recurring gains, were …

German policymakers should team up with power grid operators to improve the response to incidents such as the arson attack near Tesla’s gigafactory, said the head of regional utility Westenergie. Security measures needed reviewing and a better legal framework created, …

Australia’s worsening climate change may see insurance companies and banks withdraw their services from communities vulnerable to extreme events, potentially triggering “cascading effects” across the economy, a new government report warned. The government released its first National Climate Risk Assessment …

U.S. auto-safety regulators on Monday launched a preliminary probe into emergency braking issues in certain Honda vehicles following complaints of crashes and fires. The problem affects the 2019-2022 models of the Honda Insight, a hybrid electric car, and the Honda …

Nancy Zailo is at the back of the line. She’s behind Jeffrey Stein, the Rite Aid Corp. chief executive collecting $300,000 paychecks every month. She’s behind consultants at Alvarez & Marsal, who have billed the pharmacy chain $75 million and …