Global Economy
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 ...
XL Group Is Reportedly Drawing Potential Suitors, Including Allianz
Bermuda-based insurer XL Group Ltd. is attracting interest from rivals including Allianz SE of Germany, according to people with knowledge of the matter. Interest from insurers in potentially ...
U.S. Drought Footprint in January Reached Largest Levels Since 2014
In January, the East was cold, the West was warm and drought reached its largest extent since 2014, the National Centers for Environmental Information said Wednesday. The average temperature across ...