AXA XL said it streamlined its underwriting operations in the Americas, which will now be three segments—large commercial, middle-market and professional. The realignment is “resulting in redundancies,” confirmed a company spokesperson via email. “We’ll work closely with all impacted colleagues …
Fairfax India Holdings Corp. on Monday said Prem Watsa, popularly known as “Canada’s Warren Buffett,” will step down as the investment firm’s chairman. He will be replaced by his son Benjamin Watsa, effective July 1, as chair but will continue …
Under pressure from Greece’s navy, traders of Russian oil have found a new place to switch cargoes of crude in the Mediterranean sea, a sign of how hard it will be to clamp down on an activity that has alarmed …
Stellantis NV is rushing to fix around 500,000 cars from its Citroën and DS brands after urging clients to stop driving them due to faulty air bags from now-defunct Takata Corp. The company is providing replacement vehicles, sourcing new air …
KKR & Co. is considering entering the private credit market in Japan to provide an alternative to bank loans. “It will be a medium to long-term initiative,” Hiro Hirano, the head of KKR Japan said in an interview. “I think …
Southern Germany continues to battle flooding from heavy rainfall that’s disrupted transportation and pushed emergency services to their limits. Chancellor Olaf Scholz, who plans to visit some of the affected regions on Monday, said recent instances of extreme weather highlight …
Desjardins Group and The Insurance Company of Prince Edward Island (ICPEI) have confirmed that the transaction announced in March 2024 has closed. Financial details of the deal were not disclosed. With this acquisition, Desjardins General Insurance Group aims to expand …
A safety test scandal at Japanese automakers widened on Monday, with Toyota Motor and Mazda both halting shipments of some vehicles after Japan’s transport ministry found irregularities in applications to certify certain models. The irregularities were also found in applications …
Apollo Syndicate Management Ltd., the Lloyd’s managing agent, announced the launch of the first captive syndicate to be launched under Lloyd’s revised captive syndicate model. This captive syndicate, managed by Apollo, is in partnership with a major global client and …
Kansas storm claims totaled nearly half a billion dollars in 2023. According to numbers shared by the state’s department of insurance, 147,710 claims totaling $442.8 million were paid last year. The Kansas Department of Insurance collected this data from all …