Global Economy
China Tech Outfit Discloses Intent to Buy Unnamed Reinsurance Group
A Chinese high-tech operation said it plans to snatch up a group of reinsurance companies in a diversification move. China Goldjoy Group Ltd., formerly known as World Wide Touch Technology Holdings ...
Ex-AIG CFO Herzog Joins Ambac’s Board as Proxy Fight Looms
Ambac Financial Group Inc. appointed former American International Group Inc. Chief Financial Officer David Herzog to its board as the bond insurer works to fend off activist investor Canyon Capital ...
FBI Seeks Help from U.S. Businesses in Ransomware Hacker Investigation
FBI is asking businesses and software security experts for emergency assistance in its investigation into a pernicious new type of "ransomware" virus used by hackers for extortion. "We need your ...
Warren Buffett’s Berkshire Hathaway Boosts Wells Fargo Ownership Stake
Warren Buffett's Berkshire Hathaway Inc on Monday said it has increased its ownership stake in Wells Fargo & Co to 10 percent, a level that could mean increased federal scrutiny over the ...
Asia Investment Grabs Big Chunk of Global P/C M&A Pie: Conning
Insurance industry M&A truly went global in 2015, and a noteworthy chunk of the attention came from China and Japan. Conning summarizes the scope of this in a new report, and the author said he ...
Russia Hedge Fund Manager, Others Settle U.S. Press Release Hacking Case
A Moscow-based hedge fund manager, his investment firms and two Paris-based funds have agreed to pay nearly $18 million to resolve a U.S. regulator's claims that they engaged in insider trading using ...
ISO Will Gather and Analyze Terrorism Insurance Data for U.S. Treasury Dept.
The property/casualty insurance data and rating organization ISO will collect and help analyze terrorism data this year for the U.S. Department of the Treasury, the federal agency charged with ...
Industry Groups Vow to Fight New OSHA Rule for Silica Exposure Limits
Capping a decades-long effort, U.S. workplace regulators on Thursday announced a final rule to boost protections against occupational exposure to crystalline silica, a carcinogenic dust ubiquitous in ...