Allianz said on Wednesday that it was fielding a request for information from the U.S. Securities and Exchange Commission over a series of funds that suffered sharp losses amid the coronavirus-led market meltdown earlier this year and are the subject …
UK insurer Hasting Group Holdings has agreed to a £1.66 billion (US$2.2 billion) cash acquisition by Finnish insurer Sampo and Rand Merchant Investment Holdings Ltd., a South African financial services investment company. Hastings investors will receive 250 pence for each …
Insurer American International Group Inc. racked up $730 million in COVID-19-related losses during the first half of the year, its chief executive officer said on Tuesday. The pandemic is a “formidable and ongoing catastrophe,” AIG CEO Brian Duperreault said during …
Worldwide Facilities, LLC, a national wholesale insurance broker, managing general agent and program underwriter, has acquired Clearwater Underwriters, Inc., a surplus lines MGA based in Clearwater, Fla. Clearwater Underwriters was established in 1991 to provide a market for retail agents …
CRC Group has promoted Mississippi-based Claire Willis to CRC Group’s national Personal Lines Practice leader. The move comes as part of the company’s increased focus on the personal lines market place, according to the company. Willis joined CRC Group in …
German insurer on Wednesday posted a 29% fall in net profit in the second quarter from a year earlier and shied away from updating its full-year profit guidance as the coronavirus pandemic slows business and clouds the outlook. Allianz is …
Guy Carpenter & Co., the reinsurance broker and unit of Marsh & McLennan Cos., announced the appointment of Peter Askew as president and CEO, of Guy Carpenter’s Canadian business, with immediate effect. Donald Callahan has stepped down from the role …
When it comes to helping employees balance work hours with relaxation, Acuity Insurance Chief Executive Officer Ben Salzmann has a unique tool at his disposal: a 65-foot Ferris wheel. Before the pandemic struck, Salzmann would regularly fire up the amusement-park …
U.S. prosecutors are pursuing possible penalties of nearly $13 billion to resolve investigations of OxyContin maker Purdue Pharma after uncovering evidence of criminal and civil misconduct stemming from the company’s alleged role in fueling the nation’s opioid crisis, people familiar …
New Jersey-based specialty lines program administrator Axon Underwriting Services has acquired the renewal portfolio of Allianz Global Corporate & Specialty’s (AGCS) U.S. contaminated and consumer products recall insurance business written through Allianz Global Risks US Insurance Co. The transaction builds …