Global Economy
EU Regulators Warn of Cryptocurrency Pricing Bubble
Virtual currencies such as bitcoin have shown clear signs of a pricing bubble and consumers could lose all their money, the European Union's banking, securities and insurance watchdogs said on ...
Takata Clears Path Out of Bankruptcy by Settling Air Bag Claims
Takata Corp.'s U.S. operations, pushed into bankruptcy by the largest automotive recall in U.S. history, settled with two groups representing victims of its faulty air bags, the company said in court ...
Europe’s January Windstorms Caused More than $2B in Insured Losses: Aon
European windstorms Friederike, Eleanor and Carmen wreaked widespread damage in January, causing insured losses of more than $2 billion, according to a report published by Impact Forecasting, Aon ...
Rash of Natural Disasters Made Reinsurers Desirable Acquisition Targets
The $500 billion reinsurance industry is experiencing a flurry of deal talks. One reason: Companies are finally for sale as a rash of natural disasters has depressed valuations and a influx of ...
SoftBank CEO Son Follows Warren Buffett’s Example in Proposed Swiss Re Investment
Masayoshi Son, SoftBank Group Corp.'s billionaire founder and CEO, is taking a step toward becoming a digital-age Warren Buffett. SoftBank has entered talks to buy as much as a third of reinsurer ...
AIG Reports $6.7B Loss Attributed to Catastrophes and Tax Reform
American International Group Inc posted a $6.7 billion fourth-quarter loss on Thursday as the U.S. insurer booked a big charge related to U.S. tax reform and losses from global catastrophes. ...
Sompo International Will Buy Italian Agriculture Insurer A&A
Sompo International said it has agreed to buy an Italian agriculture insurer in a bid to broaden the reach of a new, recently-launched global technology platform focused on the sector. The ...
Zurich Insurance Discloses $1B Share Buyback, Dividend Hike, Encouraging Earnings
Zurich Insurance struck a confident note on Thursday, with a $1 billion share buyback and its first dividend hike in seven years as it reported better-than-expected earnings despite hefty catastrophe ...