The costliest natural catastrophes occurred in the United States in 2018 with one of California’s devastating wildfires and Hurricane Michael topping the list, according to Munich Re. A report from Munich Re on last year’s natural disasters pointed to “clear …
Cyber incidents join business interruption as the top risks facing global businesses, according to a survey conducted by Allianz Global Corporate & Specialty (AGCS). The impact of business interruption (which includes supply chain disruption) is the major risk for companies …
ArgoGlobal Assicurazioni S.p.A, a subsidiary of specialty re/insurer Argo Group International Holdings Ltd., is working with insurtech startup Axieme to provide on-demand, pay-as-you-go insurance for temporary and short-term workers in Italy’s gig economy. How does the partnership work? Jobs first …
Global reinsurance capital – comprising traditional and alternative capital – fell 2 percent in 2018 to US$595 billion from $605 billion in 2017, remaining resilient in the face of insured natural catastrophe losses of $230 billion over the two-year period, …
Liberty Mutual has once again directly tapped capital markets’ reinsurance capacity via the Bermuda collateralized reinsurance sidecar, Limestone Re Ltd. Limestone Re provides approximately $150 million of collateralized reinsurance capacity for Liberty’s U.S. property catastrophe program, as well as its …
The costliest natural catastrophes occurred in the United States in 2018 with one of California’s devastating wildfires and Hurricane Michael topping the list, according to Munich Re. A report from Munich Re on last year’s natural disasters pointed to “clear …
Assicurazioni Generali SpA announced the closing of the sale of its entire stake in Generali Belgium SA to Athora Holding Ltd. for approximately €540 million ($618.9 million). The deal was first announced on April 18, 2018. The company will be …
Mergers & acquisitions drew a lot of interest from the readers of Insurance Journal’s International section in 2018 with 11 of the top 25 articles focusing on Marsh & McLennan’s acquisition of JLT, AXA’s purchase of XL Group and AIG’s …
Cornelius Vander Starr had many identities, including American entrepreneur, successful businessman, salesman, fearless world traveler and business pioneer. As the founder of what is now American International Group, he also was a firm believer in corporate social responsibility long before …
Liberty Mutual Insurance has formed a $1 billion risk-sharing agreement with the Overseas Private Investment Corp. (OPIC), the U.S. government’s development finance institution, which furthers the company’s diversification strategy in a market when organic growth is hard to find. The …
