Operations/tech

The pact involves P&C reinsurance business in the US and internationally.

The executive says the initial decision to implement salary cuts was taken after “sober analysis” of the situation.

Earlier this week, Allstate announced the $4bn acquisition of National General, the latest step in its efforts to improve its omni-channel presence and compete for market share.

The two businesses, a $755mn revenue retailer and $140mn revenue wholesaler, have joined forces under the banner of holding company Galway.

Joe Jackson becomes the latest in a line of retro or reinsurance brokers to transfer to the smaller intermediary.

CEO Kevin Rehnberg continues to reshape Argo management following Mark Watson III’s departure.

On Thursday, the last day of trading before the 4th of July weekend, Lemonade made its debut on the stock exchange.

The parent company says it’s unclear whether data has been compromised or lost.

Many questions abound concerning the business’ long-term viability.

Over the last decade, a big three with a much higher percentage market share than its counterpart in the US retail market has emerged.

The broker is about to tell staff how the long-awaited $125mn of incentives will be allocated.

Proceeds of the 30-year bond sale are earmarked for “general corporate purposes”.