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Allied World Re has promoted Yeo Meng Wong from an underwriting role to senior vice president and general manager.
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The Japanese company will have 51 percent of the new entity but just one board seat.
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One analyst believes buying the provider of employee identity protection will help the auto insurer diversify. -
Californians have had a steady diet of wildfires this summer, but something else in the state is burning insurers up.
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More than 19-inches of rain fell on the northeast of Hawaii's Big Island in a 24-hour period.
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The storm may reach the state’s Big Island as a Cat 3 hurricane later today.
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The Florida company is one of several smaller, reinsurance-dependent carriers within the State Farm-dominated Hawaiian market.
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The hurricane is likely to remain at category four status as it approaches the islands.
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The storm is expected to make landfall over eastern Shikoku today.
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Root plans to use the additional capital to bring its smartphone-based cover to more US states.
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The storm is currently not forecast to make landfall, though heavy rainfall and damaging storm surge is expected.
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‘Raging wildfires’ to become more common despite quietest H1 in a decade
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