Underwriting
Runoff Firm Catalina Raises $700M; RenRe, Apollo Become Shareholders
Catalina Holdings (Bermuda) Ltd., a legacy runoff property and casualty re/insurance specialist, announced it has raised $700 million in equity capital and concluded its shareholder restructuring ...
AIG CEO Duperreault’s Validus Acquisition Could Heighten Carrier’s Storm Loss Exposures
American International Group Inc.'s Brian Duperreault spent his first year as chief executive officer on a rebuilding effort, and his biggest acquisition is the one that can magnify the insurance ...
Excess Capacity Is Keeping London Market Insurers’ Profits Under Pressure: Fitch
The profitability of London market and Lloyd's insurers is expected to remain under pressure in 2018, despite the fact that rates improved slightly following the catastrophe losses in the second ...
As Hurricane Michael Hits, a Look Back at September’s Natural Catastrophes
September was a tough month for the United States in terms of tropical cyclones, and sites around the world faced tsunamis, typhoons and earthquakes. The United States dealt with two over the 30-day ...
Travelers, Amazon to Sell Smart Home Kits, Promote Insurance Info to Clients
The Travelers Companies Inc. is teaming up with Amazon to offer smart home kits and insurance/risk management information through a digital storefront: Amazon.com/Travelers. The property/casualty ...
Lloyd’s Pledges to Pay All Valid Claims if Hard Brexit Takes Place
Lloyd's said it is working on transferring all European Economic Area (EEA) business to its EU headquarters, Lloyd's Brussels, before the end of 2020 via a Part VII transfer. Part VII transfers, in ...
Climate Change Group Lobbying for U.S. Carbon Tax Gets $1M Exxon Donation
Exxon Mobil Corp's latest shift on climate includes a $1 million donation to a political action committee's lobbying campaign to promote a U.S. tax on carbon-gas emissions, a central factor in global ...
Payment Companies Test Cyber War Games as Way to Manage Hack Attack Risks
Global payment companies held their first joint cybersecurity war games to test their systems' readiness for simultaneous attacks, uncovering differences in their defenses including even how to ...