The Hilb Group LLC (THG) has acquired the majority of the assets of IOA Northeast NY Inc. (IOANE), a division of IOA National Inc. The transaction became effective November 1, 2017. Located in Florham Park, N.J., IOANE provides property and …
Federal prosecutors say a Delaware woman charged with transferring more than $6 million from the operating account of the financial services company where she worked into her own bank accounts over several years deserves to spend at least five years …
The UK Financial Conduct Authority’s review of the wholesale insurance broker market could help counter the trend of rising expenses for London market insurers, according to a Fitch Ratings briefing. This could make London more competitive with smaller hubs in …
The initial estimate of the insured property market loss for Extratropical Cyclone Xavier, which primarily affected Germany on Oct. 5, 2017, is €291 million (US$343.6 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. In …
Smart contracts were supposed to revolutionize finance. So far, however, they have proven adept mainly at helping people lose their money. The digital contracts make use of blockchain technology to get around trusted intermediaries like banks. Let’s say you want …
Steamship Mutual, the London-based protection and indemnity (P&I) club, announced it has been granted a license to operate as an insurer from its Singapore branch office. “This is a reflection of the club’s commitment to vessel owners and operators from …
Insurers have pulled $20 billion out of coal investments, but most are European and none of the top nine U.S. insurers has taken “meaningful action,” campaign group Unfriend Coal said on Wednesday. Government representatives and officials at this week’s U.N. …
Hedge funds bought reinsurance stocks in the third quarter after prices tumbled on widespread losses after multiple hurricanes in North America, filings showed on Wednesday. Hurricanes in the United States and the Caribbean in August and September are expected to …
Insurers are woefully behind in developing a coverage strategy for 3-D printing and stand to face liability problems if they don’t do so, an expert appearing at the PLUS 2017 conference in Atlanta said recently. “Unlike other areas of technology, …
Fewer insurance mergers and acquisitions (M&As) are being completed these day but those that are completed are of a higher value, according to a survey by global broker Willis Towers Watson in conjunction with M&A analysis and information firm Mergermarket. …
