The largest wholesale insurance broker, Amwins Group, is getting even larger as it has agreed to acquire Worldwide Facilities, the fourth-largest wholesale insurance broker in the U.S. The addition of Worldwide broadens Amwins’ specialty capabilities and expands its footprint, especially …
Insurance agency managers may need to reassess the future of the five-day-a-week office after the pandemic is over as nearly two-thirds of agency employees would like a mix of at-home and office going forward. That’s according to a report, Insurance …
The federal government has bought additional reinsurance to cover losses of the National Flood Insurance Program. On Feb. 23, the Federal Emergency Management Agency (FEMA), which administers the flood insurance program, entered into the agency’s fourth, three-year reinsurance agreement with …
Volante Global, an international managing general agent (MGA) platform, has launched a cyber ransomware product Cyber Lockout that combines ransomware insurance cover with cybersecurity technology. Cyber Lockout is designed to reduce an organization’s exposure to malware attacks, including ransomware. The …
Commercial real estate information provider CoStar Group said it had withdrawn its bid to buy CoreLogic after the U.S. property analytics company rebuffed its sweetened buyout offer of more than $7 billion earlier on Thursday. In February, CoreLogic had agreed …
U.S. property data and analytics company CoreLogic Inc. rebuffed peer CoStar Group Inc.’s sweetened buyout offer, saying it required improvement in terms of value. Earlier this week, CoStar raised its offer to buy CoreLogic by adding another $450 million to …
Alleghany Corp. has triggered a changing of the guard, with a new chief executive officer slated to take over at the end of 2021. Current CEO Weston Hicks will retire as CEO and as a director of property/casualty insurance and …
Brit Ltd. said it will merge its U.S. service company platform, Brit Global Specialty USA, and its managing general agency Ambridge. The combined entity, which will operate under the Ambridge brand as Ambridge Partners LLC, will create an MGA managing …
Hippo Enterprises said it will go public through a merger with a blank-check firm, backed by Silicon Valley heavyweights Reid Hoffman and Mark Pincus, in a deal that gives the merged entity a pro forma enterprise value of $5 billion. …
Democrats and Republicans in Congress are taking aim at a controversial law that shields internet platforms including Facebook Inc. and Twitter Inc. from lawsuits over content posted by users. The measure — just 26 words known as Section 230 — …
