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Private Equity Investor AnaCap Sells Minority Stake in German Broker MRH Trowe
AnaCap Financial Partners, a London-based private equity investor, announced the sale of a minority stake in portfolio company MRH Trowe, a German owner-managed commercial lines insurance broker. AnaCap and MRHT’s founding managers have signed an agreement to sell a minority …
POSTED MARCH 28, 2023 3:51 PM |
North Carolina’s First Citizens Bank to Acquire Most of Collapsed Silicon Valley Bank
North Carolina-based First Citizens Bank, which also offers property and other types of insurance, will acquire much of Silicon Valley Bank, the tech-focused financial institution that collapsed this month, setting off a chain reaction that caused a second bank to …
POSTED MARCH 28, 2023 2:49 PM |
Geico Faces Class Action for Allegedly Underpaying Auto Claims
Geico General Insurance Co. must face a class action suit alleging that it has been underpaying benefits to its insureds injured in automobile accidents. U.S. District Court Judge Dora L. Irizarry in federal court in Eastern New York has certified …
POSTED MARCH 28, 2023 2:41 PM |
TikTok Represents ‘Strategic’ Challenge, Says Top Cyber Official
The head of the U.S. National Security Agency’s cybersecurity directorate on Monday said TikTok represents a “strategic issue” rather than an immediate “tactical” threat to the United States. Speaking at a policy conference in Northern California, Rob Joyce, director of …
POSTED MARCH 28, 2023 2:13 PM |
Insurer RSA Exits UK Personal Lines Motor Market to Focus on Core Businesses
UK insurer RSA announced it is exiting the UK personal lines motor market to focus on its core lines. The company explained the move by saying that the personal lines motor market in the UK remains extremely competitive and requires …
POSTED MARCH 28, 2023 2:11 PM |
InsureTrust Names Levy EVP
Atlanta-based InsureTrust, a cyber insurance specialty broker, has named Florence Levy executive vice president. InsureTrust, part of Starwind Specialty, said that Levy is well-known in the industry and was previously a director of cyber incident management with another global broker. …
POSTED MARCH 28, 2023 1:38 PM |
MGA Aqueous Secures Capacity From Allianz, Setting Sights on Commercial SME Growth
Aqueous Underwriting has secured major new capacity following the signing of an initial three-year deal with insurer Allianz Insurance. The move is part of the MGA’s plans to significantly grow its presence in the commercial SME market where it specializes …
POSTED MARCH 28, 2023 11:19 AM |
Alphabet Seeks Dismissal of Antitrust Lawsuit Over Google’s Online Ads
Google parent Alphabet asked a U.S. federal judge on Monday to dismiss a Justice Department lawsuit alleging that the search giant illegally abused its dominance of online advertising. The government, which filed the ad tech lawsuit in January along with …
POSTED MARCH 28, 2023 11:18 AM |
Russia Has Successfully Rerouted Oil Exports Hit by Western Embargo: Energy Minister
Russia has successfully redirected all its crude oil exports affected by Western sanctions over Ukraine to “friendly” countries, Energy Minister Nikolai Shulginov said on Tuesday, while still a decline in oil and gas output this year. The West imposed wide-ranging …
POSTED MARCH 28, 2023 10:31 AM |
Regulator Tells Australian Banks to Boost Cyber-Attack Defenses
Australia’s financial institutions must improve their resilience to cyberattacks, the head of the nation’s banking regulator said Tuesday. A recent review uncovered a “lack of rigor” in the nature and frequency of security control testing and insufficient board oversight on …
POSTED MARCH 28, 2023 9:31 AM |
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