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Fitch Upgrades Mitsui Sumitomo Insurance to ‘A+’

Fitch Ratings has upgraded the insurer financial strength (IFS) ratings of Japanese insurer Mitsui Sumitomo Insurance to “A+” (Strong) from “A”. Fitch also affirmed MSI’s issuer default rating (IDR) of “A” and the rating on its subordinated debt at “A-“. … Source: Insurance News

China’s Ant Financial Buys UK Payments Company WorldFirst

14Februaryadmin

Ant Financial, the Chinese financial services giant controlled by billionaire Jack Ma, bought London-based payments company WorldFirst in its biggest overseas deal since a U.S. expansion was thwarted. The acquisition marks the Chinese company’s first big move into the U.K., … Source: Insurance News

Uber’s London License Faces New Legal Challenge as Cab Drivers Fight Back

13Februaryadmin

Months after Uber Technologies Inc. won a reprieve in a high-stakes battle over its operations in the U.K. capital, its London license is back in question. United Cabbies Group, which represents taxi drivers in the capital, brought a legal challenge … Source: Insurance News

Allstate Buys Smartphone Repairer iCracked, Expanding Its Consumer Services

13Februaryadmin

The Allstate Corp. said it has acquired iCracked, a provider of on-site, on-demand repair services for smartphones and tablets in North America. The privately held San Francisco-based company will join SquareTrade, a company Allstate purchased in 2019 for $1.4 billion … Source: Insurance News

Traffic Fatalities Again Top 40,000; Few Cars on Roads Have Latest Technology

13Februaryadmin

Traffic fatalities on U.S. roads reached an estimated 40,000 in 2018, the third year in a row in which at least that many people died in vehicle crashes, according to new figures from the National Safety Council. The 2018 total … Source: Insurance News

AXA XL Merges European Teams with Job Losses Expected

12Februaryadmin

AXA XL announced another step in its integration of AXA Corporate Solutions, AXA Matrix, AXA Art and XL Catlin, as it continues to create a united AXA XL division. AXA XL said it began transferring employees in Europe into a … Source: Insurance News

Brown & Brown Metro Acquires Pennsylvania’s Smith Insurance Associates

12Februaryadmin

Brown & Brown Metro LLC, a subsidiary of Brown & Brown Inc., has acquired substantially all of the assets of Smith Insurance Associates Inc. Smith Insurance is a family owned agency with more than 35 years of experience, providing a … Source: Insurance News

Doctors Alerted to Cancer Risk Linked to Breast Implants

12Februaryadmin

U.S. health officials are telling doctors to be on the lookout for a rare cancer linked to breast implants after receiving more reports of the disease. The Food and Drug Administration sent a letter to family doctors, nurses and other … Source: Insurance News

New Jersey Man Accused of Faking Fall for Insurance Pleads Not Guilty

11Februaryadmin

A New Jersey man accused of faking a slip and fall at a business to get insurance money has pleaded not guilty. Alexander Goldinsky entered his plea Thursday during a brief court hearing. Prosecutors say the 57-year-old Randolph man was … Source: Insurance News

Bipartisan Bill Would Require Second Cockpit Door on All Existing Airplanes

11Februaryadmin

U.S. lawmakers are pushing for stronger aviation security with a bipartisan bill that would require passenger airlines to install secondary security doors between cabins and the cockpit on current aircraft to prevent another Sept. 11-style attack. Hijackings remain a threat … Source: Insurance News