Global Economy
Fitch Recommends Slower P/C Insurance Embrace of Cyber Risks
Cyber risk may be the fastest growing segment in property/casualty insurance, but carriers should be measured about boosting their presence in the space, Fitch Ratings warned in a new report. Why go ...
Chubb Finalizes Bermuda Leadership Team, Renames Division
Chubb said it has rounded out the new leadership team for its Bermuda-based operations and also plans to rename the division. Both actions follow the nearly $30 billion merger of ACE Ltd. and Chubb ...
Jury Orders J&J to Pay $502M in Hip Implant Failure Patient Lawsuit
Johnson & Johnson was ordered to pay $502 million to a group of patients who accused the company of hiding flaws in its Pinnacle artificial hips that caused the devices to prematurely fail and ...
France’s AXA is Latest Insurer with CEO Change; De Castries Retirement Date Set
Axa SA Chairman and Chief Executive Officer Henri de Castries is leaving earlier than expected, handing over the post of CEO to Thomas Buberl as France's largest insurer splits its top jobs. De ...
PartnerRe’s $6.9B Sale to EXOR Closes; Fitch Responds with Ratings Downgrade
PartnerRe's new owner EXOR has closed its $6.9 billion acquisition of the Bermuda-based reinsurer, and Fitch Ratings quickly responded with a ratings downgrade that reflects some pessimism over the ...
VW Reportedly May Establish Two Funds to Address Emissions Scandal
Volkswagen AG is in talks with U.S. authorities to establish a national remediation fund and a separate one for California as punishment for pollution from its cars after the automaker cheated on ...
P/C Industry Groups Wary, Cautious Watching the 2016 Presidential Campaign Unfold
Property/casualty insurance lobbyists are watching the volatile 2016 U.S. presidential campaign unfold with both wariness and cautious optimism, unsure of what the future will bring with the likes of ...
Munich Re Plans New $1.1B Share Buyback; Profit Expected to Plunge
Munich Re, the world's second-biggest reinsurer, expects profit to decline this year as falling prices for its products and low interest rates weigh on investment earnings. The company plans to ...