Global Economy
U.S. Senate Bill Would Sanction Countries That Harbor Cyber Criminals
Two senior U.S. senators planned legislation on Thursday that would fight ransomware attacks on U.S. infrastructure by sanctioning countries the harbor cyber criminals, as well as by strengthening ...
Brookfield Asset Management’s Reinsurance Unit Will Acquire American National for $5.1B
Brookfield Asset Management Inc's reinsurance unit has agreed to buy insurer American National Group Inc for about $5.1 billion in an all-cash deal, the companies said on Monday. Started in 1905 by ...
Allianz CEO Baete Recaps ‘Horrible Week’ Regarding U.S. DOJ Fund Division Probe
Oliver Baete, chief executive officer of Germany's Allianz, on Friday spoke of a "horrible week" for him and the insurer, his first response to a disclosure that the U.S. Department of Justice was ...
London Struggles to Lure Back Financial Workers, Legal & General Warns
The head of one of the UK's largest insurers and investors warned that the City of London is struggling far more than the country's other office districts in luring workers back to their desks. Since ...
Liberty Mutual Rebounds From COVID-19 Challenges
Liberty Mutual's 2021 second quarter swung to a profit as the insurer rebounded from challenges it faced last year due to the coronavirus pandemic. The company reported $769 million in net income for ...
Competitors Poached Talent as Aon/WTW Merger Plans Grew Uncertain
While Aon and Willis Towers Watson were trying for many months to land their merger, their competitors were able lure away some of their producer talent – capitalizing on the "distraction and ...
Updated: Moody’s to Pay $2B for Daily Mail’s RMS Cat Modeling Unit
The publisher of Britain's Daily Mail said on Thursday it had agreed to sell its insurance risk business RMS to Moody's Corporation for about 1.425 billion pounds ($1.99 billion) in cash. Chief ...
COVID-19-Related Labor, Material Price Hikes Propelling Property Claim Cost Increases
The COVID-19 pandemic is causing a sharp increase in the price of materials and labor and driving increases in property claim costs, experts said during a webinar hosted by ATI Restoration on ...