High-Rise Building Catches Fire in United Arab Emirates May 7, 2020 A high-rise tower caught fire Tuesday in the United Arab Emirates and authorities said it wasn’t immediately clear what caused...
Hiscox Raises £375M to Respond to U.S. Wholesale, Reinsurance Growth Opportunities May 6, 2020 By L.S. Howard Lloyd’s insurer Hiscox has successfully raised capital of approximately £375 million (US$465 million) as a result of an equity placement...
AXIS Gets AM Best Ratings Downgrade on ‘Deterioration’ of Operating Performance May 6, 2020 AM Best has downgraded the credit ratings of Bermuda-based AXIS Capital Holdings and its subsidiaries. The re/insurer has had its...
Willis Research Network Partners with ‘Cloud to Street’ to Raise Flood Resilience May 6, 2020 The Willis Research Network (WRN) has formed a new partnership with “Cloud to Street,” a global flood-mapping and monitoring platform...
Explosion at Anglo American Coal Mine in Australia Injures 5, Halts Production May 6, 2020 An explosion halted production on Wednesday at a coal mine run by Anglo American in Australia’s northeastern state of Queensland,...
SAP Admits to Security Lapses in Some Products, but Says There Was No Data Breach May 6, 2020 By Douglas Busvine and Nadine Schimroszik Business software group SAP disclosed on Tuesday that some of its cloud products did not meet contractual or statutory security...
MGA Platform OneAdvent Buys Property MGA Modus from CFC Underwriting May 6, 2020 OneAdvent, a London-based managing general agent (MGA) platform, announced the acquisition of Modus Underwriting Ltd., a digital-first MGA focused on...
Global Temperatures in April Matched Warmest on Record: European Climate Group May 6, 2020 By Laura Millan Temperatures in April were on par with the previous warmest April on record four years ago, with extremely high temperatures...
Two Law Firms Seek British Businesses to Join Biz Interruption Lawsuit Against Allianz May 6, 2020 Two law firms said on Tuesday they were gathering companies in Britain for a potential group lawsuit against German insurer...
Hiscox to Raise Capital in Response to COVID-19 Growth Opportunities and Exposures May 5, 2020 By L.S. Howard Lloyd’s insurer Hiscox is planning a capital raise via the placement of new ordinary shares, which will enable the company...