Boeing 737 Max’s Design, Pilot and Regulatory Errors Caused Lion Air Crash October 28, 2019 By Harry Suhartono, Fathiya Dahrul and Alan Levin Indonesian investigators found sweeping problems and missteps in connection with last year’s fatal Lion Air crash, including design flaws in...
EU Agrees to Delay Brexit Until Jan. 31, as U.K. Parliament’s Impasse Continues October 28, 2019 By Gabriela Baczynska and John Chalmers The European Union agreed a three-month flexible delay on Monday to Britain’s exit from the bloc as Prime Minister Boris...
Broker Gallagher Loses $12.8M Poaching Lawsuit in London Against Ardonagh October 25, 2019 By Eddie Spence and David Hellier Insurance broker Arthur J. Gallagher Group lost a 10 million-pound ($12.8 million) lawsuit against rival Ardonagh Group Ltd. in a...
Sompo Global Risk Solutions Expands Mexico Capabilities, Hires Macias Romo October 25, 2019 Sompo International Holdings Ltd. announced that the company has expanded its capabilities in Mexico with the addition of a new...
AXA to Sell Belgian Bank Unit to Crelan for $689.5M, Forms Bancassurance Deal October 25, 2019 AXA announced it has entered into an agreement to sell its Belgian banking operations, AXA Bank Belgium, to Crelan Bank...
Reinsurance Fraud Triggers Stock Plunge in Lehman-Founded Hungarian Insurer October 25, 2019 By Veronika Gulyas Hungarian insurer Cig Pannonia Nyrt., which lists Lehman Brothers as one of its founders, lost as much as a quarter...
Arthur J. Gallagher Finalizes Purchase of Stake in India Broker Edelweiss October 25, 2019 Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced it has completed the purchase of a minority stake...
Ping An Q3 Profit Jumps 50% on Higher Investment Returns, Bank Income October 25, 2019 By Bloomberg News Ping An Insurance (Group) Co., China’s largest insurer by market value, said third-quarter profit jumped 50% thanks to higher investment...
Insurtech Funding Reaches $4.4 Billion to Date in 2019, Blowing Past Full-Year 2018 October 25, 2019 Insurtech funding levels, reaching almost $4.4 billion in worldwide funding commitments through three quarters of the year, has already surpassed...
Specialist Insurer Beazley Takes 30% Stake in Hong Kong Coverholder Pegasus October 24, 2019 Beazley, the London-based specialist insurer, is making a strategic investment in Hong Kong-based coverholder, Pegasus Underwriting Ltd. The investment will...