Global Economy
Cat Bond Issuance Still Has a Record Year; Q3 Was Typically Slow
Catastrophe bond issuance came to just $460 million in new limit during the 2017 third quarter, though the typically slow Q3 added to what remains a record year for the sector, the Property Claims ...
Corporate Social Responsibility Can Get a CEO Fired: Research
CEOs are increasingly encouraged and even pressured to invest in reducing a company's carbon foot print, make the firm more diverse and focus on product safety. But researchers from the University of ...
AIG Warns of Possible $3.1B Catastrophe Loss Hit for Q3 from Hurricanes, Earthquakes
American International Group warned it faces as much as $3.1 billion in pre-tax catastrophe losses for the 2017 third quarter, largely from three hurricanes and two Mexico earthquakes. The ...
Buffett’s Berkshire Hathaway Buys Stake in Italian Insurer Cattolica
Warren Buffett is expanding his wager on Italy. The billionaire's Berkshire Hathaway Inc. said Thursday it agreed to buy about 9 percent of Italian insurer Societa Cattolica di Assicurazioni Scrl ...
Report: Zurich CEO Greco Claims 2019 Cost-Cutting Goal at Halfway Point
Zurich Insurance will have cut costs by $700 million by the end of the year, nearly halfway to its goal to save $1.5 billion by 2019, Chief Executive Mario Greco said in an interview published on ...
Guidewire Paying $275M for P/C Data Science Software Firm Cyence
Guidewire Software Inc. will fork over $275 million to acquire Cyence, a software startup that uses data science and risk analytics to help P/C insurers address emerging risks including cyber, ...
Oil Rigs in Path of Tropical Storm Nate
Tropical Storm Nate has formed off of Nicaragua, threatening to inundate Central America, shut oil and gas rigs in the Gulf of Mexico and damage cotton and citrus crops across the U.S. South. Nate ...
Insurers, Banks Must Take Bigger Steps to Counter Climate Change Risks: Dutch Regulator
Banks, insurers and other financial institutions must do more to take into account the risks posed by climate change to their business, a Dutch Central Bank study said. As global warming increases ...