INSURANCE NEWS
German Insurtech wefox Raises $400M, Increasing Valuation to $4.5B
Berlin insurtech wefox reports it has closed a Series D funding round of US$400 million and increased its valuation to US$4.5 billion. The round included both equity and debt. Abu Dhabi sovereign investor Mubadala Investment Co. led the equity portion …
WTW Acquires Climate Risk Analytics Firm Butterwire
Insurance broker WTW reported its acquisition of Butterwire, a provider of data analytics, artificial intelligence and machine learning platforms. Based in Glasgow, Scotland, the financial analytics company will become a part of WTW’s Climate and Resilience Hub. Terms were not …
Consumers See Inflation Picking Up in Year Ahead but Moderating Over Longer Term
U.S. consumers see inflation rising further in the year ahead but expect a more moderate pace over the longer term in a signal that inflation expectations – a key dynamic being closely watched by Federal Reserve officials – remain reasonably …
Acrisure Buys Naming Rights of Pittsburgh Steelers Home Field
Grand Rapids, Michigan-based fintech Acrisure has purchased the naming rights of the Pittsburgh Steelers’ home field, which will be known as Acrisure Stadium. No financial terms for the 15-year deal were announced. Acrisure will take over the name rights immediately. …
British Regulator Moves to Reform Standards for Corporate Financial Reporting
Starting in January 2024, company directors will have to give investors stronger reassurance that annual reports are free of fraud after collapses at retailer BHS and builder Carillion, Britain’s accounting watchdog said on Tuesday. The British government said in May …
Court Says Health Care Workers Suing Maine Governor Must Reveal Identities
Nine health care workers who sued Democratic Maine Gov. Janet Mills over the state’s COVID-19 vaccine mandate have until Money to reveal their identities. The workers have so far remained anonymous, but on Thursday, a federal appeals court in Boston …
Officials Investigating Recent Vandalism, Fires at Maryland Churches
Investigations are underway into several weekend incidents of apparent arson and vandalism at churches in Maryland, authorities said. Montgomery County authorities said the incidents took place at three churches of different denominations a short distance away from each other in …
Yosemite Wildfire Growing as California’s Wildfire Season Develops
A wildfire threatening the largest grove of giant sequoias in Yosemite National Park more than doubled in size in a day, and firefighters were working in difficult terrain Sunday to protect the iconic trees and a small mountain town as …
People Moves: BHSI Names Guinea to Customer Post in Spain; Catalina Appoints New CEOs in Asia and U.S.
BHSI Names Guinea to Customer Engagement Post in Spain Berkshire Hathaway Specialty Insurance (BHSI) announced that Eduardo Guinea has joined the organization as head of customer and broker engagement in Spain. He will be based in Madrid. Guinea comes to …
Digital Insurer Ranger Raises $5.25M With Assist From A-Rod for Agent Platform
Digital insurer Ranger said it just closed a $5.25 million seed round to further its development of a digital platform that promises to modernize the role of insurance agents, evolving their role into a home protection advisor. The round was …
Texas Power Grid Operator Warns of Rolling Blackouts Amid Record Heat
The operator of Texas’s power grid on Sunday called on state residents for the second time this year to conserve energy, warning of potential rolling blackouts amid predictions for record-high temperatures on Monday. The state faces a “potential reserve capacity …
Iowa Man Charged With Insurance Fraud
Stephen Allen Allgood Jr., age 33, of Eddyville, was charged with one count of Insurance Fraud – Presenting False Information (Class D Felony) following an investigation by the Iowa Insurance Division’s Fraud Bureau.The charges against Allgood stem from an investigation …