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Category: Insurance Journal

AIG Life/Retirement Unit Corebridge Valued at $13B
Insurance Journal | September 20, 2022
AIG Life/Retirement Unit Corebridge Valued at $13B
Shares of Corebridge Financial Inc opened 2 percent below the IPO price in their New York Stock Exchange debut on Thursday, giving the company a valuation of $13.2 billion, dimming hopes of a revival in U.S. listings as market turmoil …
Auto Loss Costs Not Coming Down; Bigger Rate Hikes Ahead: Allstate CEO
Insurance Journal | September 20, 2022
Auto Loss Costs Not Coming Down; Bigger Rate Hikes Ahead: Allstate CEO
Higher auto loss costs are here to stay, according to the leader of Allstate, who also said that his company will be pushing up auto insurance prices higher, and at a faster pace, for the balance of the year. Speaking …
More Coaches Named in South Carolina Cheerleader Abuse Lawsuit
Insurance Journal | September 20, 2022
More Coaches Named in South Carolina Cheerleader Abuse Lawsuit
A lawsuit alleging the rampant sexual abuse of underage athletes at a competitive cheerleading gym in South Carolina has been amended to name six more coaches as defendants and three more accusers. The accusers — now seven female and two …
Mississippi State Sorority Treasurer Sentenced in $4M Embezzlement
Insurance Journal | September 20, 2022
Mississippi State Sorority Treasurer Sentenced in $4M Embezzlement
A woman has been sentenced to nearly four years in federal prison and ordered to pay nearly $3 million in restitution for embezzling money from a Mississippi State University sorority. The Northeast Mississippi Daily Journal reports that Betty Jane Cadle, …
Coalition of Insurers, Pension Funds Commit $7.1 Trillion to Support 1.5°C Climate Goal
Insurance Journal | September 20, 2022
Coalition of Insurers, Pension Funds Commit $7.1 Trillion to Support 1.5°C Climate Goal
A coalition of pension funds and insurance companies that includes Allianz SE, the California Public Employees’ Retirement System and Zurich Insurance Group AG have committed to managing $7.1 trillion of assets in line with the Paris Agreement’s goal of limiting …
Study: Four Major Tipping Points Close to Triggering Hotter Temps
Insurance Journal | September 20, 2022
Study: Four Major Tipping Points Close to Triggering Hotter Temps
Even if the world somehow manages to limit future warming to the strictest international temperature goal, four Earth-changing climate “tipping points” are still likely to be triggered, with a lot more looming as the planet heats more after that, a …
Chubb in Advanced Bancassurance Talks With Hong Kong’s Hang Seng Bank: Sources
Insurance Journal | September 20, 2022
Chubb in Advanced Bancassurance Talks With Hong Kong’s Hang Seng Bank: Sources
Chubb Ltd. is in advanced talks to form an insurance partnership with Hang Seng Bank Ltd., a Hong Kong-based lender majority owned by HSBC Holdings Plc, according to people familiar with the matter. The parties are hammering out the details …
Mexico Struck by Powerful 7.5 Magnitude Earthquake on Fateful Anniversary
Insurance Journal | September 20, 2022
Mexico Struck by Powerful 7.5 Magnitude Earthquake on Fateful Anniversary
MEXICO CITY – A magnitude 7.6 earthquake struck western Mexico on Monday on the anniversary of two devastating temblors, killing at least two people, damaging buildings, knocking out power and sending residents of Mexico City scrambling outside for safety. Two …
Uber Says Lapsus$-Linked Hacker Responsible for Breach
Insurance Journal | September 20, 2022
Uber Says Lapsus$-Linked Hacker Responsible for Breach
Uber Technologies Inc said on Monday a hacker affiliated with the Lapsus$ hacking group was responsible for a cyber attack that forced the ride-hailing company to shut several internal communications temporarily last week. Uber said the attacker had not accessed …
U.S. States Ask Appeals Court to Reinstate Facebook Lawsuit
Insurance Journal | September 20, 2022
U.S. States Ask Appeals Court to Reinstate Facebook Lawsuit
A big group of U.S. states, led by New York, argued to an appeals court Monday that it should reinstate an antitrust lawsuit against Meta’s Facebook because of ongoing harm from the company’s actions and because the states had not …