CFO / Financial
JPMorgan to Pay Over $2B to Settle Madoff Case
JPMorgan Chase & Co will pay more than $2 billion of penalties to settle charges by U.S. federal authorities that it failed to report suspicious activity involving Bernard Madoff's Ponzi scheme. ...
Fitch Changes Tower Group’s Rating Watch Status from Negative to Evolving
On Monday, Fitch Ratings revised the Rating Watch status of Tower Group International, Ltd. to Rating Watch Evolving from Rating Watch Negative following Tower's announcement of a planned merger with ...
ACE Establishes $95M SPV Altair Re II
ACE Limited announced Monday that it has established Altair Re II, a $95 million special purpose vehicle to provide additional collateralized capacity for its global reinsurance business. Altair Re ...
Argo Establishes 2014 Sidecar, Issues Cat Bonds
Argo Group International Holdings, Ltd. announced Monday that it establised a new sidecar reinsurer and separately announced that it issued $172 million in catastrophe bonds. The sidecar, Harambee Re ...
SAC Manager’s Jury Can Hear of Greed, Not Fainting or Firing: Judge
Mathew Martoma, the former SAC Capital Advisors LP fund manager whose trial begins this week, won rulings limiting the evidence prosecutors can use to try to prove he made $276 million for SAC based ...
British Reporting Rule Change Exposes Transatlantic Cultural Gap
As investors prepare to digest the latest round of company earnings figures, Britain's move to scrap the quarterly reporting requirement has revealed a divergence of opinion between the domestic and ...
Regulation-Fueled ‘Collateral Crunch’ Not Expected in 2014
If pension funds, insurers and sovereign wealth funds were hoping to cash in on lending "high-quality" assets to those scrambling to meet tougher collateral requirements in 2014, they are likely to ...
Fitch Drops Tower Group Rating Another Notch to ‘B’ as RBC Ratios Fall
Fitch Ratings announced Thursday that it downgraded the insurer financial strength ratings of the operating subsidiaries of Tower Group International, Ltd.'s to "B" from "BB." In October 2013, ...