A committee of Vesttoo Ltd. creditors reached an agreement with Chaucer Group Ltd. for a $15.6 million settlement for 82.5% of the assets in a unit of the insurtech in one of a number of claims against the failed company.
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Truist to Focus on Banking with $15.5B Insurance Brokerage Business Sale
Truist Financial agreed to sell the remaining stake in its insurance brokerage business to an investor group on Tuesday, in a deal valued at $15.5 billion, as it looks to strengthen its core banking business to cope with potentially tougher capital rules.
Insurance Giant Swiss Re Posts 580% Jump in Full-Year Profit
Insurance giant Swiss Re on Friday reported a sharp upswing in full-year profit, benefiting from what it described as an attractive market environment after a “batch of bad years.”
PetroSure Partners with AmTrust to Deliver Workers’ Comp to the Upstream Onshore Oil and Gas Industry
PetroSure, a highly specialized multi-line coverage program for the onshore oil and gas industry, has partnered with AmTrust Specialty Programs to provide industry-focused workers’ compensation coverage.
QBE Cites Higher Rates, Premium Growth as 2023 Profit Doubles
QBE Insurance Group Ltd. cited renewal rate increases and targeted growth as its net profit for 2023 more than doubled.
FBI Director Says China Cyberattacks on U.S. Infrastructure Now at Unprecedented Scale
As intelligence chiefs and policymakers gathered for this city’s annual security conference focused on the wars in Ukraine and the Middle East, the director of the Federal Bureau of Investigation urged them not to lose sight of another threat: China.
ReSource Pro Strengthens Insurance Carrier Commitment with Key Executive Appointment
ReSource Pro, a trusted operations and transformation partner for insurance organizations, today announced the appointment of Ernie Feirer to the position of senior vice president, carrier practice.
Allstate Estimates $325M in Incurred January Catastrophe Losses
Allstate Corp. said it incurred an estimated $325 million in catastrophe losses in January, partially offset by favorable claims reserve reestimates.
Microsoft, OpenAI Fighting Foreign Hackers Utilizing AI in Attacks
Microsoft and OpenAI said Wednesday that artificial intelligence tools are being used by foreign government hackers to improve their cyberattacks.
Allstate Hikes Auto Insurance Prices by 30% in California
Allstate customers in the Golden State will have to pay more to insure their vehicles with the company.