For private businesses, Bloomberg applies comparisons with similar publicly listed companies using enterprise value-to-Ebitda or price-to-earnings ratios. If net debt is unknown, the valuation assumes ...

Glenn Renwick, the former President, CEO and Chairman of the Board of the Progressive Corporation, has died at age 69 following a car accident in Florida. Renwick was born in Dunedin, New Zealand. He ...

Chinese insurtech XChange TEC INC to appeal a Nasdaq delisting notice after failing to maintain the required $35 mn minimum market value of listed securities. The company filed the appeal. This move ...

Insurance Australia Group (IAG) reached an agreement with the Royal Automobile Club of Western Australia (RAC) to acquire RAC’s insurance business in a deal valued at A$1.35 bn ($870 mn). The ...

Swiss Re reported strong first-quarter results in both its property & casualty and life & health reinsurance businesses, despite a slight drop in revenue and continued caution in U.S. casualty lines.

The U.S. Court of Appeals for the Third Circuit issued a split decision in a case involving two sets of insurers objecting to the Boy Scouts of America’s $2.46 bn sexual abuse settlement, according to ...

Iowa Gov. Kim Reynolds signed a new Senate File 573 into law, establishing new regulations for auto glass repair and insurance claims. The law introduces rules for fees, repair authorizations, and ...

Wefox, an insurtech and managing general agent, announced it will sell all shares in its Italian subsidiaries—Wefox MGA and Wefox Services Italy —to funds managed by J.C. Flowers & Co., a global ...

Marsh USA has filed a lawsuit in New York, accusing its departing aviation and space practice leader, Garrett Hanrahan, of working with executives at Willis Towers Watson (WTW) to recruit Marsh ...

With risk-adjusted rate changes falling and economic conditions unclear, Lloyd’s is pushing its underwriters to stay focused, especially in the expanding delegated business sector, according to Chief ...

Ryan Specialty Holdings announced the acquisition of 360 Degree Underwriting, a managing general underwriter based in Dublin and Galway, Ireland. The company specializes in commercial construction.

Massachusetts Insurance Commissioner Michael Caljouw denied a proposed 7.1% rate increase from the Workers’ Compensation Rating and Inspection Bureau of Massachusetts. He challenged key parts of the ...