Global Economy
Willis Re Tallies $39.5B in Natural Catastrophe Insured Losses for 2016
Insured loss estimates from major natural catastrophes totaled $39.5 billion during 2016, which is the highest level since 2012 when market losses totaled $60 billion, according to a report published ...
Former AIG Chairman Greenberg Admits to Wrongdoing in Longstanding New York Fraud Lawsuit
Former American International Group Inc. Chairman Maurice "Hank" Greenberg admitted to participating and approving two fraudulent reinsurance deals as part of a settlement over a decade-old fraud ...
Blackstone Group to Pay Up to $4.8B for Aon’s Employee Benefits Outsourcing Arm
Insurance broker Aon Plc said on Friday it agreed to sell its employee benefits outsourcing business to private equity firm Blackstone Group LP for up to $4.8 billion. Blackstone will pay $4.3 ...
RSA, Post-Restructuring, Debuts New Global Risk Solutions Arm
RSA has finalized a new Global Risk Solutions (GRS) operating model aimed at giving brokers and customers better access to decision-makers and helping the division itself operate with more focus in ...
Markel’s 2016 Saw Investment Income Gains, Higher Cat Losses
Markel Corp. ended 2016 with a drop in net income and increase in the combined ratio, with Hurricane Matthew and the Canadian wildfires to blame for higher catastrophe losses. At the same time, the ...
Chinese Insurance Regulator Warns Against Reckless Offshore Investment: Report
A senior Chinese insurance regulator warned against the industry's reckless overseas investment, saying some insurers behaved recklessly when it came to offshore acquisitions, the official Securities ...
Prem Watsa’s Fairfax to Pay $144M for New Zealand Insurer
Fairfax Financial Holdings Lt. will pay $144 million for New Zealand Insurer Tower Ltd. giving it an instant, significant presence in a growing, emerging market. Tower's board of directors has ...
The Latest Launches From Talbot, Assurant and Marsh
Talbot Underwriting launched three enhanced Lloyd's terror facilities. Assurant found a partner through which it is offering liability and property insurance coverage for vacation homeowners. Marsh ...