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News – Insurance Journal
Home Insurance Agency Hippo to Go Public in $5B SPAC
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. …
POSTED MARCH 04, 2021 1:05 PM |
French Families Join Class Action After Thousands of COVID Deaths in Nursing Homes
PARIS – A Paris court [held] a hearing Wednesday in a class-action effort to hold French health authorities and companies accountable after thousands with the virus died in nursing homes, and families were locked out and left in the dark …
POSTED MARCH 04, 2021 12:46 PM |
Greensill Capital’s Funding Crisis Could Lead to Losses for Insurers, Banks: Analysis
LONDON – A funding crisis at Greensill Capital could spill over to some of its high-risk borrowers and lead to losses for insurers and banks that have done business with the UK-based supply chain finance firm if its clients default, …
POSTED MARCH 04, 2021 11:38 AM |
Insurers Don’t Have Capacity to Handle Systemic Pandemic Risk: Generali CEO
MILAN – Europe’s insurance industry doesn’t have the capacity to deal with the systemic risk of a pandemic and more protection needs to be put in place through private-public partnerships, the head of Italian insurer Generali said on Thursday. Speaking …
POSTED MARCH 04, 2021 11:25 AM |
London-Based Broker Costero Holdings Acquires Mar Risk Services
Costero Holdings, a privately held London-based brokerage, has acquired the independent broker Mar Risk Services Ltd. (MarRS), effective March 1, 2021. Headquartered in London, MarRS offers insurance advice and access to leading insurance providers both in Lloyd’s and international markets. …
POSTED MARCH 04, 2021 10:42 AM |
Zurich Promotes Signorelli to CEO of Commercial Insurance
Zurich Insurance Group has appointed Sierra Signorelli, currently group chief underwriting officer, to the role of chief executive officer for Commercial Insurance and as a member of the executive committee with immediate effect. Signorelli succeeds James Shea, who has decided …
POSTED MARCH 04, 2021 10:05 AM |
Aviva Sells Italian Businesses to Allianz and CNP in 2 Deals Totaling $1.1 Billion
Aviva Plc has exited its Italian businesses in a pair of deals totaling 873 million euros ($1.1 billion) as the UK insurer continues to pivot to its core markets. CNP Assurances and Allianz SE bought the London-based firm’s Italian life …
POSTED MARCH 04, 2021 9:49 AM |
‘Desperate’ Times: Stakeholders Urge Florida Lawmakers to Enact Insurance Reform
It’s the start of another Florida Legislative Session with a familiar theme — insurers pushing for reforms they say are needed to help the state’s distressed insurance market. Only this year the need is more urgent than ever, according to …
POSTED MARCH 04, 2021 7:31 AM |
AIA of Alabama Reorganizes, Appoints Albrecht as President
Associated Insurance Administrators (AIA), based in Montgomery, Ala., has appointed Patrick Albrecht as president. The appointment of Albrecht is part of the company’s reorganization to bring the authorities and responsibilities into the day-to-day operations. AIA said the shift to having …
POSTED MARCH 04, 2021 6:48 AM |
Alliant Acquires Louisiana’s Group Insurance Inc.
Alliant Insurance Services has acquired Group Insurance Incorporated (GII), a full-service employee benefits provider and general agency based in Baton Rouge, Louisiana. The acquisition of GII adds a diverse portfolio of group insurance products and services to Alliant’s national employee …
POSTED MARCH 04, 2021 6:47 AM |
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