Strategy
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 ...
Farmers Mutual Hail Will Buy Deere’s Crop Insurance Unit
Deere & Co., the world's largest manufacturer or agricultural machinery, agreed to sell its crop insurance segment to Farmers Mutual Hail Insurance Co. of Iowa, retreating from a business that ...
USAA Makes Strategic Investment in CaféX
USAA, an insurance and financial services company for military families, has made a strategic investment in CaféX, a provider of real-time engagement solutions for mobile and web platforms. CaféX ...
Allstate Announces Management Shakeup, Customer Focus
Allstate Corp. announced Wednesday a management shakeup in a reorganization aimed at focusing attention closely on customers and improving efficiency of operations. Allstate said that Matt Winter, ...
Fireman’s Fund Goes the Way of the Dodo Bird With ACE Acquisition Deal
The Fireman's Fund Insurance Co. brand is all but finished now, thanks to an end-of-year M&A deal. ACE Group disclosed on Dec. 18 that it has agreed to buy Fireman's Fund's high-net-worth ...
With TRIA Renewal Efforts Killed, Some Predict Market Chaos
Property/casualty insurance industry groups, business associations and observers alike were quick to condemn the death of TRIA renewal for 2014. Without federal terrorism reinsurance in place for ...
XL Group CEO Confirms M&A Talks with Rival Catlin
XL Group plc has confirmed that it is in preliminary discussions focused on potentially acquiring rival Catlin. If an M&A agreement comes together, it would be a major consolidation move in the ...
Argo to Snatch up OneBeacon’s Lawyers Professional Liability Business
OneBeacon Insurance Group Ltd. has sold the renewal rights to its lawyers professional liability business to Argo Group US, Inc., a member of Argo Group International Holdings Ltd. The transaction ...