Global Economy
Wells Fargo Settles Racial Bias Broker Lawsuit
Wells Fargo & Co. settled a dispute with a group of black brokers claiming the bank failed to give them the same career opportunities as their white colleagues. The bank will pay $35 million to ...
AIG Completes $3.4B Sale of Mortgage Guaranty Unit to Arch Capital
American International Group said it has completed the $3.4 billion sale of its mortgage-guaranty unit to Arch Capital Group, an important piece of a wide-ranging, ongoing plan to cut jobs, ...
The Hartford, National Indemnity Ink $1.5B Reinsurance Deal Covering Asbestos/Environmental Liability Reserves
The Hartford said it has sealed a sizable reinsurance agreement covering some asbestos and environmental liability reserves with Berkshire Hathaway subsidiary National Indemnity Company. Plans call ...
Carrier Management’s Top 10 2016 Features: Leadership, Disruption and More
Today's Carrier Management newsletter is the first of 2017. But before we look ahead, here's a look back at our top 10 features of 2016. These stories feature CEOs and executives giving invaluable ...
The Latest Launches From AIG, Starr Cos. and The Hanover
AIG's Singapore division debuted a motor accident reporting platform in Singapore designed to help speed up the claims process online and reduce fraud. Starr Cos. will team with a Chinese insurer to ...
New Year Will Unleash a Deep Freeze Upon Much of the World
A deep freeze is about to descend on North America, Europe and Asia thanks to record high temperatures across the Arctic. How's that? "Think of it like a seesaw," said Matt Rogers, president of ...
China to Permit More Foreign Investment in Insurance, Securities and Banking
China unveiled plans on Friday to allow more foreign investment in banking, insurance, securities and credit-rating firms, as part of a wider opening up of the world's second-largest economy. The ...
Watsa’s Fairfax Financial Wins Approval to Grab Majority Stake in Indian Lender
Value investor Prem Watsa's Fairfax Financial Holdings Ltd. won regulatory approval to buy 51 percent of Catholic Syrian Bank Ltd., marking the first time India's central bank is allowing a foreign ...