Investments

16 lawmakers issued letters to more than a dozen insurance companies, including American International Group Inc., Berkshire Hathaway Specialty Insurance Co. and Chubb Ltd.

Of 328 chief investment officers and chief financial officers polled, more than 60% anticipate the world’s largest economy will experience a downturn in the next two to three years.

The company also announced new directors on Corebridge’s board.

The insurer has been sharpening its focus on its core operations and making necessary preparations to split off its life and retirement unit, which is planned for the first half of this year.

The New York-based investment firm said in a letter to the company’s board Thursday that it has also been advocating for more independent directors on the board and operational improvements at the company in recent months.

The glass tower in Paris where Axa SA, one of the world’s largest insurers, has its temporary headquarters looks as if a giant feral cat has ripped chunks out of it. In recent months that jagged feeling extends inside, too, as senior executives prepared to claw off an extraordinarily profitable part of the company’s $20 billion business: the oil and gas clients whose ties to the insurer go back decades.

The merger with Delwinds Insurance Acquisition Corp. will value the combined company at $369 million, said the people, who asked to not be identified as the details are private.

Allianz SE will take a 3.7 billion-euro ($4.2 billion) charge tied to the implosion of some of its U.S. hedge funds, bringing some clarity to months of uncertainty on the legal bill for the matter.

We want insurers to transform from premium collectors to lifelong protectors. And technology is at the core of helping them achieve this.

The pandemic rollercoaster continues to rattle the insurance industry as we ride into 2022. One of the bright spots for our industry was the acceleration of technological innovation. All the uncertainty and changing consumer habits are fueling substantial changes in how insurance is marketed and sold by independent agencies.