Commercial Lines
Allianz Invests in Africa Re, Continuing an Africa Expansion
Germany's Allianz Group will acquire an 8 percent stake in Africa's largest reinsurer, Africa Re, in a cash deal worth $81 million. The deal makes Allianz one of Africa Re's largest shareholders and ...
European Insurers Battling Regulation Avoid Pricy U.S. Treasuries
U.S. Treasuries need to get a lot cheaper to attract some European investors. Even with yields at multi-year highs, Treasuries are paying less than their pricier German peers when European insurers ...
Tougher No-Deal Brexit In the Cards If Talks With EU Fail
The European Union is weighing a much stronger warning on the risk of Brexit talks collapsing without a deal if the U.K. fails to lay out its position in more detail next month, said a person ...
5 Years in Prison for Canadian Who Helped Yahoo Email Hackers
A Canadian accused of helping Russian intelligence agents break into email accounts as part of a massive 2014 data breach at Yahoo was sentenced to five years in prison on Tuesday and ordered to pay ...
Alberto, a Relative Letdown, Caused $50M in U.S. Insured Losses: Karen Clark & Co.
Subtropical Storm Alberto — the first named storm of the 2018 Hurricane Season — will likely cause close to $50 million in insured losses in the United States, according to catastrophe modeling ...
Swiss Re Loses SoftBank as Potential Investor, but Would Welcome Another
Swiss Re AG said it would continue to welcome an anchor investor after Masayoshi Son's SoftBank Group Corp. ended its pursuit of a stake in the world's second-largest reinsurer. The collapsed talks ...
U.S. Forecasters Predict 2018 Atlantic Hurricane Season Could Be Above Normal
U.S. forecasters expect the 2018 Atlantic hurricane season will be near-normal to above-normal in number and intensity of storms, the National Oceanic and Atmospheric Administration's (NOAA) Climate ...
Cyber Attackers Claim They Struck Two Large Canadian Banks
Bank of Montreal and Canadian Imperial Bank of Commerce said on Monday that cyber attackers may have stolen the data of nearly 90,000 customers in what appeared to be the first significant assault on ...