Global reinsurance broker JLT Re announced that Martin Blackwell will be joining the firm as a partner, Capital Solutions, next month. Blackwell brings 40 years of market experience to JLT Re. He has served as head of Client Management at …
Pro US Holdings, the sole shareholder and immediate parent of ProTucket Insurance Company – the insurance carrier established in Rhode Island to provide run-off transfer solutions in the U.S. – has contributed $35 million of funding to ProTucket Insurance Company. …
As global reinsurance executives gathered in Monte Carlo for their annual Reinsurance Rendezvous, Fitch Ratings said it expects consolidation of the industry will continue. The firm said intense market competition and capital levels will continue to drive merger and acquisition …
British Airways apologized on Friday after the credit card details of hundreds of thousands of its customers were stolen over a two-week period in the most serious attack on its website and app. The airline discovered on Wednesday that bookings …
Independent specialty managing general agent Nexus Group has completed the acquisition of Altitude Risk Partners from the club-style MGA formation platform Castel Underwriting Agencies Limited in an asset purchase. Altitude is a London-based aerospace MGA, co-founded in 2014 by David …
Volkswagen went on trial on Monday to face investors seeking 9.2 billion euros ($10.6 billion) in compensation, arguing the carmaker should have informed shareholders earlier about its diesel pollution scandal. Shareholders representing 1,670 claims are seeking compensation for a slide …
Alibaba is heralding the end of the Jack Ma era. A former English teacher who helped found Alibaba Group Holding Ltd. two decades ago, Ma outlined plans to hand the executive chairman role to Daniel Zhang, a finance veteran who’s …
Lloyd’s of London’s historic base on Lime Street is heading for a radical makeover, with more focus on shared, collaborative spaces along the lines of a WeWork Cos. office, according to its outgoing chief. “Over the years to come, that …
CBS Corp. CEO Leslie Moonves resigned from the company, the company said on Sunday, amid fresh allegations of sexual assault and harassment. CBS also announced a deal to end litigation against controlling shareholder Shari Redstone and National Amusements Inc. for …
The outlook for the U.S. property/casualty commercial insurance sector for the next 12 to 18 months remains stable given healthy core earnings and sound balance sheets in the view of analysts at Moody’s Investors Service. “Commercial insurers held up well …
