INSURANCE NEWS
Berkshire Operating Earnings Jump on Insurance Strength
Warren Buffett’s Berkshire Hathaway Inc. posted gains in operating profit as strength in its insurance businesses helped counter inflationary pressures that have weighed on the sprawling conglomerate in the last year. The firm reported $10.04 billion of operating profit for …
Investors Double-Down on Resilience With $100M Series D Round
Investors in cyber risk solution company Resilience have contributed yet again – $100 million in a series D equity financing round – a testament to the company’s business model and results, its leaders said. With reports of a decline in …
Allianz Ex-Manager Must Face US Fraud Charges On $7B Investor Loss
A U.S. judge has rejected former Allianz fund manager Gregoire Tournant’s bid to dismiss a criminal fraud case over his role in causing more than $7 billion of investor losses. In an order made public on Friday, U.S. District Judge …
SiriusPoint Announces Partnership with P/C MGA Eaton Gate
SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, and Eaton Gate, a London-based managing general underwriter (MGU), announced a new partnership. Eaton Gate writes in excess of £100 million GWP through its group of managing general agents (MGA) and is …
Australia Cracks Down on Promoters of Dodgy Tax Schemes After PwC Leak Scandal
Australia will drastically toughen penalties against promoters of dodgy tax schemes and beef up regulatory powers under reforms announced on Sunday in response to a scandal over the use of leaked fiscal plans by PwC Australia. The leak of the …
Sweden’s Ericsson Sued by 37 Shareholders for $170M: Media Report
Thirty-seven Ericsson shareholders are suing the Swedish telecoms company for a combined 1.8 billion Swedish crowns ($170 million), saying its CEO’s disclosure of activities in Iraq depressed the stock, business daily Dagens Industri reported on Friday. Ericsson and CEO Boerje …
Slovenia Suffers Its Worst-Ever Floods; Damage Could Top €500M, Prime Minister Says
LJUBLJANA, Slovenia (AP) – Slovenia has faced the worst-ever natural disaster in its history, Prime Minister Robert Golob said Saturday, after devastating floods caused damage estimated at half a billion euros ($550 million). The floods were “the biggest natural disaster” …
Judge Allows Key Antitrust Google Search Claims to Go to Trial
A U.S. judge hearing the Justice Department’s antitrust lawsuit accusing Google of unlawfully maintaining monopolies in the internet search market let stand key claims made by the federal government. Google, a unit of Alphabet, had asked for summary judgment on …
Purdue Asks Supreme Court Not to Block Opioid Settlement During Appeal
Oxycontin maker Purdue Pharma on Friday asked the U.S. Supreme Court to reject the U.S. Department of Justice’s request to delay its multi-billion-dollar bankruptcy settlement resolving thousands of lawsuits against it over the opioid epidemic. The department’s bankruptcy watchdog last …
Japan to Release Fukushima Water as Soon as August: Reports
The Japanese government is preparing to start releasing treated wastewater from the Fukushima nuclear disaster site into the sea as early as late August, local newspapers including the Yomiuri Shimbun reported. Prime Minister Fumio Kishida will meet with cabinet members …
Social Media Influencer Facing Riot Charges After Mayhem Breaks Loose in NYC
Social media influencer Kai Cenat is facing charges of inciting a riot and promoting an unlawful gathering in New York City, after the online streamer drew thousands of his followers, many of them teenagers, with promises of giving away electronics, …
Drag Performers and LGBTQ+ Advocates Sue to Block Texas Law Expanding Ban on Sexual Performances
AUSTIN, Texas (AP) – A group of drag performers and LGBTQ+ rights advocates have filed a federal lawsuit seeking to block a new Texas law that expands what is considered an illegal public performance of sexual conduct, arguing it is …