German Insurtech Wefox Raises $650M in Funding, Valuing Firm at $3B June 1, 2021 By Douglas Busvine BERLIN – Digital insurance startup Wefox said on Tuesday it had raised $650 million from investors, in what it called...
Generali Launches $1.4 Billion Bid to Buy Remaining Shares of Italy Rival Cattolica June 1, 2021 By Sonia Sirletti Italy’s largest insurer Assicurazioni Generali SpA launched a 1.2 billion-euro ($1.4 billion) bid to buy all the shares it doesn’t...
Big Oil May Face More Climate Lawsuits After Shell Ruling, Say Lawyers, Activists May 28, 2021 By Shadia Nasralla and Tom Hals LONDON – A Dutch court’s decision to force Royal Dutch Shell to make deeper, faster cuts to its climate warming...
People Moves: WTW’s Hegelbach to Newly Created Renewable Energy Role at Howden; Browne Is Division President, Consumer Lines, APAC, for Chubb May 28, 2021 Howden Specialty announced the appointment of Severin Hegelbach as divisional director. In this newly created role, Hegelbach will lead a...
French Regulator Dismisses Covéa Market Abuse Charges Filed Against SCOR’s Kessler May 28, 2021 By L.S. Howard France’s financial markets regulator dismissed market abuse charges, which had been filed against SCOR’s Chairman and CEO Denis Kessler by...
India Oil Giant Under Fire for Offshore Disaster During Cyclone Tauktae May 28, 2021 By Debjit Chakraborty When India’s weather office sent out cyclone warnings on May 13 and most vessels moved to safety, one barge working...
Australia Weighs Capping Fees for Litigation Funders, Lawyers as Class Actions Surge May 28, 2021 By Paulina Duran SYDNEY – Australia is considering capping fees for litigation funders and lawyers, and guaranteeing a minimum rate of return for...
COVID Takes Big Bite from Multiline Insurers’ Earnings, in ‘Manageable’ Event: S&P May 28, 2021 By L.S. Howard The COVID-19 crisis cost 16 global multiline insurers about $8 billion in 2020, although they still reported substantial net profit...
Ford Halts Production at Southern India Plant as COVID-19 Cases Surge May 28, 2021 By Sudarshan Varadhan CHENNAI – Ford Motor Co. said it will halt production at its car plant in India’s southern state of Tamil...
Suez Canal Blames Container Ship’s Grounding on Its High Speed, Size of Rudder May 28, 2021 By Aidan Lewis ISMAILIA, Egypt – The container ship that got stuck in the Suez Canal in March was struggling to steer because...