It’s normally the actuaries who ponder the long odds in insurance companies. Yet, it was a group of 10 employees from the IT department of Warren, N.J.-based
Chubb employee Robert Space purchased the winning ticket, bearing the numbers 26, 32, 35, 43, 52 and 10, at a nearby gas station. The group can opt to split a $216 million annuity or take a lump-sum payout of approximately $140 million.
If they choose the later, the employees will each receive approximately $8 million after taxes.
SDK integration can simplify and revolutionize digital offerings for health insurers.
The insurtech discusses its multi-line solutions and ethics of AI.
Allstate Corp. will end its years-long pause on underwriting in California as soon as the state regulator adopts proposed regulatory changes to make it easier for insurers to raise rates, according to a company spokesperson.
The Net Zero Insurance Alliance will instead be replaced by the Forum for Insurance Transition to Net Zero (FIT), convened and led by the United Nations Environment Programme, according to a statement on Thursday.
The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
The specialty insurer is changing up its requirements for some positions, about one-third of jobs don't require a four-year college degree.
