CFO / Financial
Milliman to Acquire Pension Actuarial Firm McGinn Actuaries Ltd.
Milliman, Inc. announced on Monday that it is acquiring McGinn Actuaries Ltd., an Anaheim-based consultancy specializing in multiemployer pension plans. The acquisition will enhance Milliman's ...
A.M. Best Cuts Tower Group Rating to B from B++
On Friday, A.M. Best Co. announced that the rating agency has downgraded the financial strength rating (FSR) to B (Fair) from B++ (Good) of the pooled and reinsured members of the Tower US Pool. The ...
Allstate to See $100-$125M Pension Settlement Charge in 4Q
The Allstate Corporation announced Thursday that it expects to report a fourth-quarter 2013 settlement charge of $100 to $125 million, after-tax, related to the annual measurement of its pension ...
Ex-AIG Executives Greenberg, Smith Pursue New York Ethics Complaint
Former American International Group executives are pursuing an ethics complaint against the New York prosecutors still bringing the charges that cost them their jobs at the insurance giant in 2005. ...
Liberty Mutual Buying Rest of Quinn Insurance in Ireland
Liberty Mutual Group Inc. said it will buy the 49 percent stake in the former Quinn Insurance Ltd. in Ireland that it doesn't already own from failed lender Irish Bank Resolution Corp. The company ...
Total Catastrophe Losses in 2013 at $130B, Insured Losses at $44B: Swiss Re
Swiss Re AG, the second-largest reinsurer worldwide, said natural and man-made catastrophes in 2013 caused $130 billion in economic losses tied to floods, hailstorms and other events. Insured losses ...
Zurich Insurance Policy Lowers Banks’ Operational Risk Capital Needs
Zurich Insurance Group AG, Switzerland's biggest insurer, plans to offer banks a way to lower the amount of capital they need to hold for operational risks such as employee misconduct as regulators ...
AmTrust Refutes Negative Report on Accounting, Says Future ‘Never Been Brighter’
AmTrust Financial Services Inc. (AFSI), a New York-headquartered insurer whose stock price fell last week in wake of a negative report from research firm GeoInvesting, is assuring investors its ...