Underwriting
Report: XL Group/Catlin Merger a Done Deal
XL Group plc may have already closed an M&A deal with rival Catlin, according to international media reports. XL CEO Mike McGavick acknowledged on Dec. 17 that talks were underway, with a ...
Staples Admits Data Breach May Have Hit 1.16M Payment Cards
Office-supply retailer Staples Inc said about 1.16 million payment cards might have been affected by the data breach announced in October. An investigation by external data security experts showed ...
South Korea Nuclear Power Data Leak Spurs Investigation
Seoul prosecutors have launched an investigation into a leak of non-critical data at South Korea's nuclear power operator, the prosecutors' office said on Sunday, as worries mount about nuclear ...
ACE Keeping Most Fireman’s Fund Personal Lines Staff When Allianz Deal Closes
ACE Group said it will keep most of the employees with Fireman's Fund's personal lines business once its $365 million acquisition of the division from Allianz goes through. "We value Fireman's Fund ...
Car-Sharing Apps Could Pose Threat to Auto Sector
The humble smartphone could throw a spanner in the works of the car sector's post-crisis turnaround, with the big manufacturers facing a long-term threat from apps that make it easier and cheaper to ...
Standard & Poor’s, A.M. Best, Downplay Initial Impact of TRIA’s Demise
Many insurers and businesses argue the absence of federal terrorism reinsurance beginning in 2015 could lead to a market breakdown and canceled coverage. But in the wake of Congress's inability to ...
U.S. Shale Drillers Confront Insurance Gaps With Oil Price Plunge
Tumbling oil prices have exposed a weakness in the insurance that some U.S. shale drillers bought to protect themselves against a crash. At least six companies, including Pioneer Natural Resources ...
China Establishes Debut Insurance Fund for $2.1 Trillion Trust Industry
China on Friday set up its first insurance fund for its $2.1 trillion trust industry in a move to reduce financial risk in shadow banking, the country's banking regulator said. The fund, jointly ...