Commercial Lines
Tesla Plans $2B Offering After Elon Musk Overstates Company’s Cash Generation Abilities
Tesla Inc. plans to raise about $2 billion through debt and stock offerings, after Elon Musk overestimated the ability of the Model 3 sedan to generate enough cash for the company to be ...
PG&E Pursues U.S. Court Sign-Off for $105M Fund to Aid Wildfire Victims
PG&E Corp on Wednesday sought court approval for a $105 million fund to help house victims of the wildfires blamed on the bankrupt California power provider. PG&E in a filing in U.S. ...
Chubb Sees a ‘Rational Market’ With ‘Forward Momentum’: CEO Greenberg
Chubb Chairman and CEO Evan Greenberg referred to his company as being in the midst of a "rational market" and appeared pleased with its direction and tone so far in 2019. "In the first quarter, in ...
Climate Change Pushes U.S. Fund Managers to Adjust Agriculture Investments
After historic floods devastated Midwestern agricultural states this spring, some fund managers are evaluating how climate change will affect the long-term value of companies that make or sell ...
Chubb’s Net Income Ticks Downward; Commercial Insurance Produces Gains
Chubb saw its net income dip slightly in the 2019 first quarter, though commercial and other insurance premiums rose at a healthy clip. The insurance giant's property/casualty combined ratio also ...
Cryptocurrency Thefts and Fraud Reportedly Reach $1.2B in Q1
Losses from the theft of cryptocurrencies from exchanges and fraud-related activities surged in the first quarter of the year to $1.2 billion, or 70 percent of the level for all of 2018, ...
China Regulator Details Plan to Further Open Insurance, Banking Sectors
China will further open up its banking and insurance sectors, the country's top banking and insurance regulator said in comments published on Wednesday. Guo Shuqing, chairman of the China Banking and ...
Lloyd’s CEO Neal Pledges to Halve Costs in Modernization Push
Lloyd's of London plans to halve the cost of buying insurance through the 330-year-old market as part of a strategy to restore the fortunes of the company. Chief Executive Officer John Neal said he ...