Global Economy
Bermuda Insurers, Reinsurers Hammered by Ogden Rate Change, More Natural Catastrophe Losses
A big change in the Ogden rate and higher natural catastrophe losses are dampening a wide range of Bermuda-based insurer and reinsurer results in the 2017 first quarter, Standard & Poor's said in ...
The Latest Launches From Everest Insurance and Tokio Marine HCC
Everest Insurance is teaming with a cybersecurity firm to launch insurance coverage meant to help make private equity policyholders saver from cyberattacks. A division of Tokio Marine HCC unveiled a ...
Former AIG CEO Greenberg Loses Court Appeal Over 2008 Bailout Ruling
A federal appeals court threw out a ruling that the U.S. government illegally bailed out insurer American International Group Inc during the 2008 financial crisis, in a defeat for former chief ...
Generali Sees Profit Potential in Expanded Asset Management Operations
Generali is looking to buy portfolio management teams to expand its asset management operations and beef up its fee-based business, the Italian group said after reporting a 9 percent fall in ...
Demand for Cyber Insurance Soars as Hacker Crime Fears Grow
For companies and organizations, an attack by hackers can inflict financial losses, corporate embarrassment and legal action. For insurers jumping into the brave new world of cyber crime insurance, ...
French Insurer AXA Moves to Cut Stake in AllianceBernstein With U.S. IPO
A week after Axa SA ousted Peter Kraus from its AllianceBernstein Holding LP unit, the French insurer is taking steps to reduce its financial investment in the money manager to raise cash for deals. ...
Munich Re, Hannover Re Hit With Higher Q1 Natural Catastrophe Claims
Reinsurers Munich Re and Hannover Re both reported that first-quarter results are on track to meet their annual targets, despite Q1's higher level of catastrophe claims. Munich Re reported ...
More Than a Quarter of Big UK Financial Firms Planning Brexit-Related Staff Moves
More than a quarter of major U.K. financial services firms have said they will move staff or operations abroad, or are reviewing their domicile because of Brexit, according to consulting firm EY. ...