One of the world’s top insurers is mulling offloading its property reinsurance business in a bid to cut its exposure to natural disasters like hurricanes, according to three people familiar with the matter. French insurer AXA SA has been discussing …
BOSTON (AP) — In an apparent industry first, the global insurance company AXA said Thursday it will stop writing cyber-insurance policies in France that reimburse customers for extortion payments made to ransomware criminals. AXA, among Europe’s top five insurers, said …
LONDON — Lloyd’s of London is scaling back its exposure to coal and oil sands, the commercial insurance market said in its first sustainability report on Wednesday, in a reversal of its traditional hands-off approach to climate change strategy. Lloyd’s …
Insured losses from the Beirut port warehouse explosion are likely to total around $3 billion, similar to those from an explosion at the Chinese port of Tianjin in 2015, industry sources and analysts say. The blast on Tuesday, the biggest …
PARIS — A Paris commercial court ruled that insurer AXA must pay a restaurant owner two months’ worth of coronavirus-related revenue losses, the restaurateur’s lawyer said on Friday, possibly opening the door to a wave of similar litigation. AXA said …
LONDON — Britain’s Financial Conduct Authority (FCA) aims to get business interruption insurance policies examined by a court as soon as July, a member of a policyholder action group said on Thursday. The Hiscox Action Group, which is seeking to …
Britain’s financial watchdog said on Friday it would urgently ask the courts to clarify uncertainty over whether businesses can claim compensation for disruption caused by the coronavirus pandemic. The Financial Conduct Authority (FCA) also told all insurers to assess whether …
DUEBENDORF, Switzerland — Electric luxury cars and sport utility vehicles (SUVs) may be 40% more likely to cause accidents than their standard engine counterparts, possibly because drivers are still getting used to their quick acceleration, French insurer AXA said. The …
Zurich Insurance Group AG said it will exceed all of its financial targets as the global insurer benefits from a three-year turnaround plan that slashed costs. The combined ratio, a key measure of underwriting performance, declined to 95.1%, the company …
Axa SA Chief Executive Officer Thomas Buberl is betting the worst is over for insurance. His $15.3 billion purchase of XL Group Ltd., the company’s biggest ever, will make Axa the top provider of commercial casualty coverage just as premiums …