Insurance Journal News Feed

Insurance Journal news feed

1. West Virginia Chemical Facility Reaction Kills 2, Injures 20

   Two workers were killed and 20 others, including first responders, were injured when a chemical reaction went awry at a silver recovery facility in West Virginia. The reaction and leak happened Wednesday at the Catalyst Refiners plant near Institute, about …

2. Ex-Credit Suisse Team Plans $1 Billion Fund for Data Center Insurance Risk

   A team of former Credit Suisse bankers is preparing to launch a fund they say will offer double-digit returns in exchange for taking on some of the insurance risk tied to data centers. Euler ILS Partners, an alternative investor formed …

3. PwC Pays $166 Million to Settle HK Evergrande Audit Probe

   PricewaterhouseCoopers LLP agreed to pay HK$1.3 billion ($166 million) in fines and compensation to settle investigations into its auditing work for the collapsed property giant China Evergrande Group. Hong Kong’s Accounting and Financial Reporting Council also imposed a six-month suspension …

4. Beazley Shareholders Approve Zurich’s $10.9 Billion Cash Takeover

   London-listed specialty insurer Beazley said on Wednesday shareholders approved Swiss group Zurich Insurance’s 8.1 billion pound ($10.94 billion) all-cash takeover, with 99.9% votes in favor at a meeting held earlier in the day. The acquisition, which follows a series of …

5. Viewpoint: Middle Market Businesses Are Cutting Costs – But May Be Increasing Risks

   When I talk with our agents that serve middle market clients, the same themes consistently emerge: middle market businesses are optimistic, but they’re also fatigued and looking for more than traditional risk transfer from their insurance partners. Many owners are …