INSURANCE NEWS
Truist in Talks to Sell Insurance Business for $10 Billion: Report
Truist Financial is in talks to sell its insurance brokerage unit to private equity firm Stone Point for about $10 billion, news website Semafor reported on Monday, citing people familiar with the matter. The potential deal would be the latest …
New Jersey Attorney General Opens Inquiry Into Fatal Crash Involving Nadine Menendez
The New Jersey attorney general’s office has opened an inquiry into how local law enforcement handled an investigation into a fatal car crash that involved the then-future wife of U.S. Sen. Robert Menendez, according to a law enforcement official familiar …
New Hampshire Helicopter Crash That Took Pilot’s Life Is Under Investigation
A helicopter crashed in the woods shortly after taking off in Croydon, New Hampshire, killing the pilot, the only person on board, authorities said. The craft was reported as missing for at least several hours. The helicopter had taken off …
People Moves: Gallagher Re Taps RenRe’s Allard as Head of Global Credit & Political Risk; Sompo Int’l Names Heads of Claims, Distribution & Client Relationship Mgmt
This edition of International People Moves details appointments at Gallagher Re and Sompo International. A summary of these new hires follow here. Gallagher Re Taps RenRe’s Allard to Lead Global Credit & Political Risk Global reinsurance broker Gallagher Re has …
Markets/Coverages: Irish MGA iSure Launches Professional Indemnity Facility
iSure, the specialist SME managing general agent in Ireland, part of the re/insurance MGA Rokstone, has announced the launch of a professional Indemnity (PI) facility with a €2 million primary and a €3 million excess of loss limit. Drawing on …
Odey Asset Management to Shut Wealth Business in Wake of Sexual Assault Allegations Against Founder
Odey Asset Management is closing its wealth business, the UK’s Financial Conduct Authority said, months after its founder Crispin Odey was accused of sexual misconduct. “We will work closely with the firm as it winds down, to ensure clients are …
Survey: Cyber Budgets, Insurance Premium Jump Across Sectors
Budgets and insurance policy costs have increased exponentially despite doubts surrounding efficacy of cyber practices, according to a recent survey gauging cybersecurity practices among global debt issuers conducted by Moody’s Investors Service. Increased C-suite focus on cyber risk has led …
Hacked Philippine Health Insurer Didn’t Have Cyber Protection Software
The Philippines’ state health insurer didn’t have cyber protection software when hackers attacked its computers, giving criminals access to the data of millions of its citizens and triggering calls for an extensive cybersecurity audit. While the full extent of the …
Middle-Market Companies Report Performance Improvements
New data from Chubb and the National Center for the Middle Market shows nearly 75% of middle-market companies report an improvement in overall performance compared to last year — a record high statistic shared in the insurer’s biannual Middle Market …
UK Financial Services’ Firms Caught in Crossfire of Labour-Tory Business Battle
Britain’s Labour party has held back the launch of a new business council after senior Conservatives intervened with financial services companies that were due to take part. Chancellor of the Exchequer Jeremy Hunt spoke to at least one business about …
Summit: Cannabis Data A Key to Growing, Retaining Client Base
Data and technology are becoming more important to the cannabis market as it matures, and insurance professionals specializing in the segment would benefit from keeping that at top of mind. A group of experts gathered during Insurance Journal’s Insuring Cannabis …
Clorox Security Breach Linked to Group Behind Casino Hacks
A notorious group of hackers blamed for recent breaches on major casino companies is also suspected of being behind a recent cyberattack against Clorox Co. that has led to a nationwide shortage of its cleaning products. Officials suspect that “Scattered …