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Arthur J. Gallagher Buys Minority Stake in India’s Edelweiss Insurance Brokers
Arthur J. Gallagher & Co. announced it has purchased a minority stake in Edelweiss Insurance Brokers Ltd. (EIBL), a wholly owned subsidiary of Edelweiss Group, the Indian diversified financial services conglomerate. The deal is subject to approval by the Insurance …

POSTED MAY 21, 2019 11:30 AM
Sompo International Taps Pützer from Amlin as Head of Financial Lines in Germany
Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty re/insurance, announced that Udo Pützer has joined the company’s European insurance platform as head of Financial Lines Insurance in Germany. Pützer is based in the company’s Düsseldorf office …

POSTED MAY 21, 2019 9:49 AM
China’s Ant Financial Provides Health Coverage to 65 Million Clients for Pennies a Month
Ping An Insurance (Group) Co. employed about 1.4 million people to peddle policies last year. Yet it’s Jack Ma’s newest online disruptor that is stealing the show –- with 50 workers and visions of serving 300 million customers. Ma’s Ant …

POSTED MAY 21, 2019 9:02 AM
Nigeria Raises Insurers’ Minimum Capital Requirement
Nigeria increased the minimum capital requirement for insurers more than threefold as the industry regulator seeks to to improve the sector’s risk management. Existing companies must comply by June next year, while it is effective immediately for the issue of …

POSTED MAY 21, 2019 8:40 AM
Vale’s Gongo Soco Mine Tailings Dam Faces 10%-15% Risk of Collapse: Brazil Official
Brazilian miner Vale‘s tailings dam in the town of Barao de Cocais in Minas Gerais has up to a 15% chance of breaking, the state’s environment secretary said on Monday. The dam at Vale‘s Gongo Soco mine is about 40 …

POSTED MAY 21, 2019 8:36 AM
MS Amlin Buys Equity Stake in Specialist Reinsurance MGA Envelop Risk
MS Amlin announced the purchase of a strategic stake in Envelop Risk, a global specialist reinsurance managing general agent (MGA), which combines insurance expertise with artificial intelligence-driven cyber risk modeling. The investment sees MS Amlin take a minority strategic stake …

POSTED MAY 21, 2019 8:03 AM
UK Financial Services Industry Will Emerge Stronger from Brexit: Gov’t Ministers
Britain’s finance industry will emerge stronger from Brexit, remaining one of the world’s top financial centers, ministers in Prime Minister Theresa May’s government forecast on Monday. Since Britain voted to leave the European Union three years ago, London’s financial services …

POSTED MAY 21, 2019 7:48 AM
State Farm Cuts Homeowners Rates by 14.4% in Florida
State Farm has reduced its homeowners insurance rates by an average of 14.4 percent in Florida for current and future home insurance customers. The new rates went into effect May 15, 2019 for new business and July 1, 2019 for …

POSTED MAY 21, 2019 5:24 AM
Country Star Travis Tritt’s Tour Bus Involved in Fatal Wreck in South Carolina
Country music star Travis Tritt says his tour bus was “sideswiped” in a multi-vehicle crash that left two people dead in South Carolina. News outlets report the crash occurred early Saturday on Highway 22 in Horry County. One person suffered …

POSTED MAY 21, 2019 5:08 AM
Insurance Agency Tragedy: 3 Hilb Group Executives Die in Plane Crash
The Hilb Group, headquartered in Richmond, Va., has confirmed that three regional executives died in a plane crash near Roatán, Honduras, on Saturday, May 18. Rob Miller, regional leader, Hilb Group – New England, and managing director of Dowling & …

POSTED MAY 20, 2019 11:48 PM

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