MSIG USA has brought in as director of product development with the recruit joining the Mitsui Sumitomo Insurance Group-owned platform from AIG.

San Diego-based endpoint detection and response company Cybereason has bolstered its incident response team with four hires – Michael Quinn, Roy Cazares, Denman Powers and Michael Flicek – all joining from Kroll.

The soft market in the US cyber insurance market will persist but may be tempered by emerging geopolitical tensions, expects Amwins, which also said that recent high-profile incidents have only had a “somewhat muted” impact.

Nationwide has named James Walsh head of E-Risk Services, its wholesale distribution subsidiary for private company specialty lines underwriting.

Clear Blue Insurance Company and a host of its affiliate entities have sued China Construction Bank Corporation (CCB) and several of its partner operations over its alleged involvement in the Vesttoo letters of credit scandal.

Geico has announced the addition of 500 new jobs in North Texas to build on the growth of its commercial insurance business.

Greater attention to systemic risks across the (re)insurance industry has underlined the need for an exposure management practice in liability lines, according to Verisk’s Eric Gesick, particularly in light of emerging exposure pathways around PFAS and climate change reporting.

Manhattan District Attorney Alvin Bragg has indicted two Inter-Insurance Agency Services executives for issuing more than 40 unauthorised insurance policies purportedly providing more than $250mn in coverage to clients while the company’s equity was less than $600,000.

Aviva’s 275 pence a share offer to acquire Direct Line Group (DLG) will likely be acceptable to the latter’s shareholders and could be accretive for Aviva’s operating earnings per share (EPS) in the range of 5 to 11 percent, said JP Morgan analysts.

AM Best has revised the outlooks to positive from stable and affirmed the financial strength rating (FSR) of A (Excellent) and the long-term issuer credit ratings of “a+” (Excellent) of the property casualty subsidiaries of CNA Financial.