Global Economy
Colorado State Hikes Atlantic Hurricane Forecast Up to 15 Storms
Colorado State University edged up its seasonal Atlantic hurricane forecast to 15, three more than in an average year. The new prediction is that six of those storms will become hurricanes and two ...
New Gen Re CEO Raiguel Strikes Broker Deal With TransRe
Gen Re, the unit of Warren Buffett's Berkshire Hathaway Inc. that appointed a new chief executive officer in May, struck a deal with a rival reinsurer to help revive sales. Alleghany Corp.'s TransRe ...
When MGAs manage a high volume of insurance submissions, underwriting speed often depends on what happens before an underwriter ever...
H1 Cat Bond Issuance Drops in Sign of Possible Market Change
Catastrophe bond issuance in the first half of 2016 dropped substantially compared to the same period a year ago, according to a new report from the Property Claims Services unit of Verisk Insurance ...
MasterCard Hit by U.K. Class Action Suit Over Processing Fees
Consumers in the U.K. are preparing a 19 billion-pound ($24.7 billion) class action lawsuit against MasterCard Inc., almost two years after a European Union court ruled the processing fees the ...
AXIS Capital’s Fledgling Harrington Re Raises $600M
Harrington Re., a fledgling Bermuda operation sponsored by AXIS Capital Holdings Ltd., has raised $600 million in capital designed to beef up underwriting and investment plans put forth by its ...
Treasury Officials Want Some Terrorism Premiums Retained for Future Claims
The federal terrorism risk insurance program "remains an important mechanism" for ensuring that terrorism risk insurance is available and generally affordable, the U.S. Treasury Department concludes ...
New Brexit Fallout: Bank of England Eases Bank Rules
Mark Carney pledged to shore up financial stability as he warned that the risks from Britain's shock decision to leave the European Union have started to crystallize. "There is the prospect of a ...
Two U.S. Funds Sue Multiple Banks Alleging Singapore Rate Rigging
Two U.S.-based investment funds have filed a lawsuit in New York against dozens of banks accusing them of conspiring to rig derivative prices incorporating Singapore interest rate benchmarks, a court ...