Global Economy
VW Hit by Yet Another Diesel Emissions Cheating Lawsuit
Kentucky sued Volkswagen AG and its luxury units on Tuesday claiming the German automaker's diesel emissions cheating scheme violated the state's Consumer Protection Act. "Volkswagen must be held ...
2015 a Quiet Year for Catastrophe Losses: Guy Carpenter
Despite a record-setting tropical season in the Pacific, 2015 was a quiet year in terms of global insured losses, according to a new report by risk and reinsurance specialist Guy Carpenter & Co., ...
AIG Will Slash 242 Jobs in NYC
American International Group Inc., the insurer that's been under pressure from activist investors, said it plans to cut 242 jobs at five locations in New York City. The reductions will take place ...
Ironshore’s New China-Based Parent Fosun May Put It Through an IPO
Ironshore Inc. disclosed that China-based parent Fosun International Ltd. – which completed its acquisition just four months ago – is mulling an initial public offering for the Bermuda-based ...
Risk Appetite Statements Increasingly Shape Reinsurance Buying Decisions: Willis Re
The rising adoption of formal risk appetite statements is having a dramatic effect on reinsurance buying decisions, with purchasing power increasingly moving to the center, according to the findings ...
For Greenbergs, Post-AIG Financial Ties Top $650M
Long after leaving American International Group Inc., members of the Greenberg family are expanding financial ties through companies they now oversee. Evan Greenberg's Chubb Ltd., previously known as ...
Marine Insurers Fill Iran Oil Cover Shortfall Stemming from U.S. Sanctions
Ship insurers have stepped in to help plug a shortfall in cover for transporting Iranian oil resulting from the fact that U.S. reinsurers are still restrained by Washington's sanctions, according to ...
Post-Merger Chubb Covets More of the High Net Worth Market Pie
Its acquisition of Fireman's Fund's business in April, 2015 provided ACE Ltd. with an idea of what's involved in integrating two leading high net worth insurance businesses. Frances D. O'Brien is now ...