Insurance
Union Bay Acquires Pennsylvania’s LaBrozzi Insurance
Union Bay Acquisition, an aggregator of insurance agencies agent based in Princeton, New Jersey, has acquired LaBrozzi Insurance Group, Inc. of Bradford, Pennsylvania. Terms were not disclosed. Debra LaBrozzi is the founder of LaBrozzi Insurance Group, which offers home, auto, …
Read More Eruption of Indonesia’s Highest Volcano Buries Homes, Destroys Bridge
SUMBERWULUH, Indonesia (AP) – Improved weather conditions Monday allowed rescuers to resume evacuation efforts and a search for possible victims after the highest volcano on Indonesia’s most densely populated island erupted, triggered by monsoon rains. Mount Semeru in Lumajang district …
Read More Former Wirecard Executives in the Dock as Germany’s Biggest Fraud Trial Begins
Former Wirecard executives go on trial on Thursday, two years after the collapse of the payments company that produced Germany’s biggest post-war fraud scandal and sent shockwaves through the country’s political and financial establishment. Austrian former chief executive Markus Braun …
Read More Xenia to Buy UK Trade Credit Insurance Broker Linda Scott Associates
Xenia Broking Group Ltd. (XBGL) announced it has agreed to acquire the trade credit insurance business of Linda Scott Associates Limited (LSA). The transaction is expected to complete on Dec. 22, subject to certain closing conditions, following which XBGL will …
Read More Hertz to Settle Most False-Arrest Claims for $168 Million
Hertz Global Holdings Inc. will spend $168 million to settle hundreds of claims that it falsely reported rental customers to the police for car theft when a vehicle was not returned on time. The company had been fighting to bottle …
Read More Russia Oil Sanctions Fuel Boom for Old Tankers
The market for old oil tankers is booming, and it’s all down to efforts by Western nations to curb trade in Russian crude. As Western shipping and maritime services firms steer clear of Russian oil to avoid falling foul of …
Read More Russian State-Owned Bank VTB Hit by Massive Distributed-Denial-of-Service Attack
Russia’s No. 2 bank VTB was hit by the largest cyber attack in its history, it said on Tuesday, warning of temporary difficulties in accessing its mobile app and website, but assuring customers that their data remained safe. State-owned VTB …
Read More China’s Sunshine Insurance Leans Toward Pricing HK IPO at Bottom of Marketed Range
Sunshine Insurance Group Co. is leaning toward pricing its Hong Kong initial public offering at the bottom of its marketed range, according to people familiar with the matter. The Beijing-based firm is weighing whether to sell 1.15 billion new shares …
Read More Turkey’s Proof-of-Insurance Rule Ensnares Russian Oil Shipments
Oil shipments from Russia and Kazakhstan are getting ensnared in a Turkish government rule to provide proof that tankers are insured when navigating the vital Bosphorus and Dardanelles shipping straits. The measure, which came into force on Friday, compels ships …
Read More Global P/C Insurance Outlook Now Negative: Moody’s
High claims inflation and rising reinsurance costs are among the factors that prompted analysts at Moody’s Investors Service to change their outlook for the global property/casualty sector from stable to negative, the rating agency said. In a report published on …
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