Strategy
Allstate Sees Energy Bond Losses Deepen As Oil Prices Plunge
Allstate Corp., the largest publicly traded U.S. seller of auto and home insurance, said gross unrealized losses widened on energy bonds in the fourth quarter as crude prices plunged. Losses climbed ...
Swiss Re’s Restructuring Costs Slash Profit; $1.1B Share Buyback Begins
Swiss Re AG, swimming in excess capital from lower-than-expected disaster claims, reverted to share buybacks to return cash to investors after three years of paying special dividends. Following the ...
Ironshore Eyes ‘Strategic Growth Opportunities’ After Fosun Buys 20% Stake
China's Fosun International has completed plans to grab a 20 percent stake in Ironshore Inc., a billion-dollar insurance holding company led by former AIG executives. The Shanghai-based investment ...
Everest Re Hires Marsh Vet to Lead Division’s U.S. Insurance Operations
Everest Re Group brought in a Marsh & McLennan veteran to head the U.S. offices of one of its insurance arms. Jonathan Zaffino is now president of Everest National Insurance Company's U.S. ...
GM Customers Struggle to Propel $10B Suit Over Falling Car Values
Drivers of Chevy Cobalts and Saturn Ions met with skepticism when they tried to restart a $10 billion lawsuit accusing General Motors Co. of exposing them to falling car prices. U.S. Bankruptcy Judge ...
P/C Industry Lobbyists Hope to Shape FAA’s Proposed Drone Regs
Two insurance industry trade associations expressed support for proposed regulations governing commercial drone use, calling them a good first step. Worries remain, however, about how the regulations ...
Reinsurance M&A Won’t Solve Problems With Soft Market: S&P
While mergers and acquisitions in the global reinsurance sector have accelerated in recent months, consolidation won't adequately address falling prices and other competitive pressures, Standard ...
Two Other Lloyd’s of London Insurers Viewed as Takeover Targets
Lloyd's of London insurers Lancashire Holdings Plc and Novae Group Plc may be the next in line for takeover offers after Brit Plc became the second U.K. firm within weeks to agree to be acquired. ...