Nexus Completes Acquisition of Hiscox MGA Marine Business January 4, 2021 Independent specialty managing general agent (MGA) Nexus Group announced it completed the acquisition of the Hiscox MGA Marine business (HMM)...
Applied Underwriters Continues Major Expansion with D&O Unit Headed by AIG’s McGill January 4, 2021 By Andrew G. Simpson Fast-growing specialty lines insurer Applied Underwriters announced the creation of a U.S. based division of its Applied Financial Lines business...
South African Insurer Santam Accepts Liability for Some Rejected COVID-19 Claims January 4, 2021 JOHANNESBURG – South African insurer Santam will begin assessing payouts for some previously rejected coronavirus-related claims after recent court judgments...
CNA Transfers $690M of Excess Workers’ Compensation Business to Enstar Subsidiary January 4, 2021 Commercial lines insurer CNA Financial Corp. and Enstar on Dec. 30, 2020 said they had reached an agreement to have...
Fatal Accident Halts Production at Hyundai’s S. Korean Factory After Refit for New EV January 4, 2021 SEOUL – Production at Hyundai Motor’s factory in Ulsan, South Korea, was halted on Monday after a worker died in...
Brazil Petrochemical Company Braskem Settles Lawsuits over Sinking City for $1.75B January 4, 2021 BRASILIA – Brazilian petrochemical company Braskem SA said on Wednesday it reached a 9.1 billion reais ($1.75 billion) deal to...
Aviation Reinsurance Rates Rise by as Much as 250% in January Renewals: Willis Re January 4, 2021 By Carolyn Cohn Aviation reinsurance rates rose by up to 250% at the key Jan. 1 renewal date, broker Willis Re said in...
Premia Holdings Expands Reinsurance Capacity with Formation of Elevation Re January 4, 2021 Premia Holdings Ltd. announced the formation of Elevation Re (SPC) Ltd., a sidecar vehicle which will provide collateralized reinsurance support...
Global Aviation Deaths Rose in 2020, Although Number of Crashes Fell January 4, 2021 By David Shepardson The number of people killed in large commercial airplane crashes rose in 2020 to 299 worldwide, even as the number...
Generali to Purchase AXA’s Greek Operations for $203 Million January 4, 2021 By Sonia Sirletti Assicurazioni Generali SpA agreed to buy the Greek operations of French insurer AXA SA as part of its plans to...