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Allianz Confirms SEC Probing Its ‘Structured Alpha’ Funds, Subject to Investor Lawsuit
Allianz said on Wednesday that it was fielding a request for information from the U.S. Securities and Exchange Commission over a series of funds that suffered sharp losses amid the coronavirus-led market meltdown earlier this year and are the subject …
POSTED AUGUST 05, 2020 8:37 AM |
Oneglobal Broking Expands into Hong Kong, Names Ex-JLT Exec Langridge as HK Chair
Oneglobal Broking, the London-based broker, announced the establishment of Oneglobal Group Asia and that its first operating company, Oneglobal Broking Hong Kong Ltd., has received regulatory approval from the insurance authority. Asian broking leader Anthony Langridge has been appointed chairman …
POSTED AUGUST 05, 2020 8:14 AM |
Guy Carpenter Appoints Askew as Canada President and CEO, Succeeding Callahan
Guy Carpenter & Co., the reinsurance broker and unit of Marsh & McLennan Cos., announced the appointment of Peter Askew as president and CEO, of Guy Carpenter’s Canadian business, with immediate effect. Donald Callahan has stepped down from the role …
POSTED AUGUST 05, 2020 7:09 AM |
Allianz’ Net Profit Drops 29% in 2nd Quarter Amid COVID-19 Crisis
German insurer on Wednesday posted a 29% fall in net profit in the second quarter from a year earlier and shied away from updating its full-year profit guidance as the coronavirus pandemic slows business and clouds the outlook. Allianz is …
POSTED AUGUST 05, 2020 6:46 AM |
CRC Group Promotes Willis to National Personal Lines Practice Leader
CRC Group has promoted Mississippi-based Claire Willis to CRC Group’s national Personal Lines Practice leader. The move comes as part of the company’s increased focus on the personal lines market place, according to the company. Willis joined CRC Group in …
POSTED AUGUST 05, 2020 6:00 AM |
Worldwide Facilities Acquires Clearwater Underwriters of Florida
Worldwide Facilities, LLC, a national wholesale insurance broker, managing general agent and program underwriter, has acquired Clearwater Underwriters, Inc., a surplus lines MGA based in Clearwater, Fla. Clearwater Underwriters was established in 1991 to provide a market for retail agents …
POSTED AUGUST 05, 2020 5:47 AM |
Allianz Global Corporate & Specialty Sells U.S. Products Recall Business to Axon
New Jersey-based specialty lines program administrator Axon Underwriting Services has acquired the renewal portfolio of Allianz Global Corporate & Specialty’s (AGCS) U.S. contaminated and consumer products recall insurance business written through Allianz Global Risks US Insurance Co. The transaction builds …
POSTED AUGUST 05, 2020 5:00 AM |
U.S. Eyes $13 Billion of Claims in Purdue Pharma Opioid Probes: Reuters
U.S. prosecutors are pursuing possible penalties of nearly $13 billion to resolve investigations of OxyContin maker Purdue Pharma after uncovering evidence of criminal and civil misconduct stemming from the company’s alleged role in fueling the nation’s opioid crisis, people familiar …
POSTED AUGUST 05, 2020 5:00 AM |
How the Pandemic May Change ‘Work-Life Balance’ Forever
When it comes to helping employees balance work hours with relaxation, Acuity Insurance Chief Executive Officer Ben Salzmann has a unique tool at his disposal: a 65-foot Ferris wheel. Before the pandemic struck, Salzmann would regularly fire up the amusement-park …
POSTED AUGUST 05, 2020 5:00 AM |
Tropical Storm Isaias Leaves Death, Darkness, Tornadoes, Floods As It Travels East Coast
AUG. 4, 08:10 PM — Tropical Storm Isaias killed at least four people on Tuesday as it made its way up the U.S. Atlantic Coast, including two deaths at a North Carolina trailer park that was struck by a tornado …
POSTED AUGUST 05, 2020 12:48 AM |
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