Banking
Banking industry news and updates
Liberty Mutual Expands Reach in Brazil with Acquisition of Austral Seguradora
Liberty Mutual is set to enhance its presence in Brazil by acquiring Austral Seguradora, boosting its position in the surety market.
Generali and World Bank Collaborate to Launch Risk Mitigation Facility for Emerging Markets
Generali and the World Bank are establishing a risk mitigation facility focused on safeguarding investments in several emerging markets, starting with Asia.
Ransomware and Cyber Incidents Spike in South Korea and Japan
South Korea sees a 20% rise in cybersecurity incidents, with ransomware attacks soaring 77%, while Japan reports record incidents by mid-2026.
Insurance Brokers Brace for Significant Earnings Hit Due to Proposed Commission Caps
India's proposed broker commission caps could slash earnings by 12% and fees by up to 90% starting January 2027, raising industry concerns.
JPMorgan Forecasts Continued Declines in Property Catastrophe Reinsurance Rates through 2027
JPMorgan projects a 10% to 20% drop in property catastrophe reinsurance rates for January 2027, highlighting ongoing pricing pressures.
Kroger's Captive Insurers Face Negative Outlook Amid Increased Losses
A.M. Best has downgraded the outlook for Kroger's captive insurers, citing increased casualty losses affecting underwriting performance.
Dunkin' Faces Lawsuit Over Misleading 'Zero Sugar' Claims in Beverages
Dunkin' is being sued for allegedly misleading customers about sugar content in its 'Zero' drinks, raising questions about labeling integrity.
Wisconsin Court Confirms Wage-Loss Award for Injured Welder Denied Rehire
A Wisconsin appeals court confirmed a wage-loss award for a welder who was not rehired despite another job being available after his injury.
Pivix Launches Specialized Monoline Commercial Property Insurance Program
Pivix Specialty Insurance now offers a targeted monoline commercial property program in 20 states, specifically for well-maintained properties.
Tower Ltd. Reports 3% Increase in Gross Written Premium and Upgrades Profit Forecast
Tower Ltd. has announced a 3% rise in gross written premium and raised its net profit guidance for the year, driven by competitive pricing strategies.
Rising Casualty Insurance Claims Pressure Asia's Market
Casualty claims in Asia are increasingly frequent and costly, surpassing general inflation, driven by elevated labor and material costs.
Awbury Insurance Expands Operations to Japanese Credit Insurance Market
Awbury Insurance has entered Japan's credit insurance sector, enabling coverage for existing global clients with subsidiaries in the region.
Court Verdict Mandates Insurers Cover Silicon Valley Bank's Fraud Losses
A federal judge has ruled that insurers must compensate Silicon Valley Bank for significant losses incurred from loan fraud involving forged documents.
Attorney Advertising Remains Prominent in Auto Insurance Claims Landscape
A significant majority of consumers notice attorney advertising related to auto insurance claims, with mixed opinions on its impact on costs and claims.
Tennessee Judge Rules Against Dual Workers' Comp Claims for Virginia Injury
A Tennessee judge denies benefits to a worker pursuing dual workers' compensation claims after a Virginia injury, citing jurisdictional issues.
Illinois Court Rules Insurer Not Liable for Coverage in Carpenter's Death
An Illinois appeals court concluded that an insurer is not obligated to cover a construction company's liability in a carpenter's fatal accident due to an exclusion clause.
Zurich Finalizes $10.8 Billion Acquisition of Beazley to Boost Specialty Sector
Zurich Insurance has completed its $10.8 billion acquisition of Beazley, forming a specialty insurance powerhouse with $15 billion in gross written premiums.
New Boutique Law Firm Emerges for Insurers After Wiley Rein Partners Depart
A group of twelve partners from Wiley Rein has launched a new firm focused on high-value insurance matters, featuring notable leadership and diverse practice areas.
Parametrix Strengthens U.S. Underwriting with Former Allianz Cyber Executive
Parametrix has appointed Tresa Stephens, ex-Allianz cyber leader, as head of U.S. underwriting to drive product strategy in the tech risk sector.
Louisiana Court Dismisses Intentional-Tort Claims in Propane Explosion Case
A Louisiana appeals court has dismissed intentional-tort claims against XTO Energy in a propane explosion case, amid ongoing litigation involving Aeropres Corp.