Canadian Insurtech Farmers Edge Raises $100 Million in IPO February 26, 2021 By Kevin Orland and Marcy Nicholson Farmers Edge Inc. raised about C$125 million ($100 million) in its Canadian initial public offering after selling shares at the...
UK Insurer RSA Reports 15% Hike in 2020 Operating Profit February 26, 2021 UK insurer RSA has reported a 2020 business operating result of £751 million ($1.1 billion), up 15% from £656 million...
Irish Insurer FBD More Than Doubles Money Set Aside for Lockdown-Related Claims February 26, 2021 DUBLIN – Irish insurer FBD more than doubled the money set aside to cover lockdown-linked claims to 65 million euros...
Legacy Specialist Enstar Provides $2.3B Adverse Development Cover for AXA XL February 25, 2021 Enstar Group Ltd. announced that one of its wholly owned subsidiaries has signed an agreement to provide adverse development cover...
Munich Re’s 2020 Profit Drops 55% on COVID-19-Related Reinsurance Claims of $4.1B February 25, 2021 Munich Re reported a profit of €1.21 billion (US1.47 billion) for 2020, a 55% decline from the €2.71 billion (US$3.29...
Zurich North America Names Aviva’s Kundi as Canada Chief Risk Officer February 25, 2021 Sonia Kundi has joined the Zurich North America Group Risk Management team as Canada chief risk officer, effective immediately. She...
Kenya Seeks More Crop Insurance to Cover Small Farms from Climate Change Risks February 25, 2021 By Eric Ombok Kenya’s agriculture ministry has opened bids for crop insurance providers to cover more smallholder farmers from the risks and shocks...
Britain Reviews Rulebooks to Keep Financial Services Sector Competitive After Brexit February 25, 2021 By Huw Jones Britain is conducting a review of its financial rulebooks and policies to see how it can keep its 130 billion...
AXA Reports 18% Drop in Net Income During 2020 with COVID Claims of $1.8 Billion February 25, 2021 AXA reported net income of €3.16 billion (US$3.8 billion) during 2020, an 18% drop from €3.86 billion (US$4.7 billion) in...
UK Prime Minister Warns Climate Change Is Threat to World Security February 25, 2021 By Edith M. Lederer British Prime Minister Boris Johnson warned world leaders Tuesday that climate change is a threat to security of all nations...