Global Economy
Record Takata Air Bag Recall Could Grow Larger Still
The U.S.'s auto safety regulator said it's investigating all Takata Corp.air-bag inflators that use a chemical propellant banned from future models and will compile data to determine whether to ...
S&P Frees GEICO, National Indemnity, Gen Re from CreditWatch Negative Status
Berkshire Hathaway's insurance subsidiaries are no longer on CreditWatch Negative with Standard & Poor's. The ratings entity removed National Indemnity Co., GEICO and General Reinsurance Corp. ...
A.M. Best 2016 Prediction: Lower U.S. P/C Underwriting Profit With Market Cracks
U.S. property/casualty insurers, fresh off a third consecutive year of underwriting profit in 2015, will likely achieve this again in 2016. At the same time, the market will develop some cracks along ...
Allianz Boosts Profit but Catastrophe Loss Claims Soar
Allianz SE missed analyst estimates for fourth-quarter profit because of claims from natural catastrophes. Net income at Europe's biggest insurer increased to 1.42 billion euros ($1.6 billion) in the ...
Zurich Insurance Is Reportedly Planning to Sell Morocco, South Africa Units
Zurich Insurance Group AG has started a process to sell its units in South Africa and Morocco as it works toward turning around its money-losing insurance operations, according to people familiar ...
As Price Plunges Continue, Reinsurer Loss Buffers Are Drying Up: Allianz Re
Reinsurers are running out of claims reserves that they can release to boost profits as pricing continues to fall, according to the head of Allianz SE's reinsurance unit. "I don't think there are too ...
Global Reinsurers’ Strong Capital Position Counteracts Competitive Pressures in 2016: S&P
Strength of capital and good enterprise risk management are two of the main reasons the global reinsurance industry will be able to maintain a stable outlook during 2016 from Standard & Poor's ...
PartnerRe Shareholders to Get $42.7M as Part of EXOR Acquisition
PartnerRe disclosed that holders of its preferred shares will get a $42.7 million cash payment – one of the final steps needed when Italian investment firm EXOR acquires it in a $6.9 billion deal. ...