INSURANCE NEWS
FBI: From Cybercrime to Terrorism, America Faces Many Elevated Threats ‘All at Once’
The country is facing heightened threats from many corners at a time when law enforcement agencies are struggling, FBI Director Christopher Wray said in an exclusive interview, adding that he is “hard pressed to think of a time in my …
Fed’s Powell Says ‘Time Has Come’ to Cut Interest Rates
JACKSON HOLE, Wyoming, Aug 23 (Reuters) – Federal Reserve Chair Jerome Powell said on Friday “the time has come” for the U.S. central bank to cut interest rates as rising risks to the job market left no room for further …
Parent of Risk Strategies and One80 Intermediaries Closes $1 Billion Financing Deal
Accession Risk Management Group, the parent company of specialty insurance brokerages Risk Strategies and One80 Intermediaries, reports it has closed a $1 billion incremental debt raise and refinancing. Accession Risk Management Group is a portfolio company of Kelso & Co., …
Complex Salvage Operations Begin as Last Body Is Recovered From Wrecked Superyacht
Italian divers have retrieved the body of British tech magnate Mike Lynch’s18-year-old daughter, Hannah, who was the last person still unaccounted for after the family’s luxury yacht sank this week off Sicily. Seven people, including Lynch himself, died when the …
Tornado-Like Waterspouts Are ‘More Likely’ as the Mediterranean Warms
The type of weather phenomenon that may have led billionaire Mike Lynch’s yacht to sink in the Mediterranean this week is now more likely to happen as global warming has raised sea temperatures, according to climate experts. The tech tycoon’s …
London-Based Ship Registry Helps Russia Oil Tankers Keep Running
Three oil tankers that are under British sanctions for transporting Russian petroleum are sailing under the flag of a nation that bases its operations in London. The Galaxy, the Liberty and the Rigel, all of which moved barrels for Moscow …
Markets/Coverages: Ascot Launches Capital Mgmt Platform for 3rd-Party Capital Biz
Ascot Group Ltd., the Bermuda-based global specialty insurance company, announced the launch of a unified capital management platform, Leadline Capital Partners, to support their expanded third-party capital business. Under this newly formed platform, Ascot has also announced that the company …
Greece Braces for More Wildfires While Storm Lilian Crosses UK
Greek wildfire risks increased as temperatures climb and near gale force winds blow across the Aegean Sea, while Storm Lilian is battering parts of the UK. There is a very high risk of fires in Athens and the surrounding Attica …
People Moves: Miraglia and Rusas Join Alliant M&A from WTW; Embroker’s Maletsky Joins Hiscox’s Tech E&O
Alliant Insurance Services, headquartered in Irvine, California, hired Peter Miraglia as executive vice president, Alliant Specialty, within the company’s mergers & acquisitions vertical. Miraglia brings over three decades of insurance industry experience with specialized expertise in private equity transactions. Based …
People Moves: DiPhilippo Joins Alliant Employee Benefits; Cormier Joins Alliant Americas in Boston
DiPhilippo Joins Alliant Insurance Services’ Employee Benefits Team Alliant Insurance Services, headquartered in Irvine, California, hired Anthony DiPhilippo as vice president, employee benefits, health and welfare consultant within its employee benefits group. DiPhilippo will grow and retain employee benefits and …
Ping An Profit Rises Nearly 7% as Market Recovery Bolsters Returns
Ping An Insurance (Group) Co. said profit rose nearly 7% in the first half, after a stock-market recovery helped bolster investment returns at China’s second-largest insurer by market value. Net income climbed to 74.6 billion yuan ($10.5 billion) in the …
Vanderbilt Plans $520 Million Palm Beach Campus, Tapping into Migration of Wealth
Vanderbilt University is asking local Florida officials to approve its proposal to build a $520 million campus in the wealthy Palm Beach area, tapping into a growing region transformed by new outposts of financial firms. The Nashville-based school envisions buildings …