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News – Insurance Journal
China Re Is Weighing Establishing U.S. Operation: Reuters
BEIJING, April 1 (Reuters) – China Reinsurance Group Corp said on Wednesday it will carefully consider its plan to set up a business entity in the United States, based on its global strategy and the implementation of Sino-U.S. phase one …
POSTED APRIL 01, 2020 1:24 PM |
CCG IQ Acquires Connecticut’s The UIS Group
CCG IQ, a provider of tech-enabled insurance services, has acquired The UIS Group. CCG IQ anticipates that the addition of this business will enhance its suite of services for insurance companies, according to a company press release. Connecticut-based UIS Group …
POSTED APRIL 01, 2020 1:08 PM |
Delaware Judge Dismisses Chemours Lawsuit Against DuPont
A Delaware judge has granted the DuPont Co.’s request to dismiss a lawsuit alleging that it massively downplayed the cost of environmental liabilities imposed on spinoff company Chemours. Vice Chancellor Sam Glasscock III ruled Monday that he has no jurisdiction …
POSTED APRIL 01, 2020 1:02 PM |
For Workers’ Safety, Walmart Stocks Up on Masks, Gloves; Initiates One-Way Aisles
Walmart Inc. will provide masks and gloves for its workers and take their temperature before shifts, the latest moves by the nation’s biggest private employer to ensure the safety concerns of its front-line employees. The company will begin supplying “high-quality” …
POSTED APRIL 01, 2020 12:14 PM |
Nexus’ Broking Unit Xenia Completes Purchase of Howden UK’s Trade Credit Business
Insurance intermediary holding company Nexus Group announced that its independent broking arm, Xenia Broking Group, has completed the acquisition of the trade credit business of Howden UK Group Ltd. Financial details of the transaction, which was first announced on March …
POSTED APRIL 01, 2020 9:15 AM |
Fitch Revises Rating Watch on Sirius to ‘Evolving’ on Uncertainties over Planned Sale
Fitch Ratings has revised the rating watch to evolving from negative on all ratings for Sirius International Group, Ltd. and its operating subsidiaries, including its ‘A-‘ (Strong) Insurer Financial Strength (IFS) rating, its ‘BBB’ Long-Term Issuer Default Rating (IDR), and …
POSTED APRIL 01, 2020 8:42 AM |
Munich Re Withdraws 2020 Profit Guidance on COVID-19 Uncertainties
Munich Re is withdrawing its profit guidance of €2.8 billion (3.1 billion) for 2020 as a result of the “great uncertainty” caused by the macroeconomic and financial impacts of COVID-19 in combination with the reinsurer’s expected man-made and natural-catastrophe losses …
POSTED APRIL 01, 2020 7:52 AM |
Alabama Issues Industry Guidance on COVID-19, Classifies Insurance as Essential
Alabama Commissioner of Insurance Jim Ridling has asked insurers writing business in the state to consider leniency and flexibility for policyholders in light of the current coronavirus outbreak, as well as confirmed that insurance operations can continue during shutdown orders. …
POSTED APRIL 01, 2020 7:16 AM |
EU Countries Give Guarantees to Credit Insurers to Prevent Coverage Cuts
European Union states are giving guarantees to credit insurers in a bid to keep coronavirus-hit companies afloat, as some firms cut cover for trade involving bloc members such as Italy and Spain, sources said. Without insurance, companies can be reluctant …
POSTED APRIL 01, 2020 6:40 AM |
National Bank of Greece Halts Sale of Ethniki Insurance on COVID-19 Crisis: Sources
National Bank of Greece SA has halted the sale of its Ethniki Insurance unit after the coronavirus pandemic dashed any lingering hopes of a successful auction, according to people familiar with the matter. In addition to the market rout, bids …
POSTED APRIL 01, 2020 6:30 AM |
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