Global Economy
Taiwan Arrests Developers of Apartment Building Destroyed in Quake
A Taiwanese court on late Tuesday approved the detention of three people involved in constructing an apartment building that collapsed in a deadly earthquake at the weekend. Lin Ming-hui, the former ...
Report: AIG May Exit At Least 50 Percent of Hedge Fund Investments
American International Group Inc. plans to exit at least half the hedge funds in which the insurer is invested, according to people familiar with the company's portfolio. The insurer has holdings in ...
Cyber, Homegrown Terror Are Top U.S. Security Threats: Intelligence Official
Disruptions in cyberspace and attacks by "homegrown" terrorists are the most imminent security threats facing the United States in 2016, James Clapper, the top U.S. intelligence official, told two ...
Lloyd’s, XL Catlin, Munich Re Among Lemonade’s Reinsurance Backers
Peer-to-peer insurance startup Lemonade said it has signed on several global reinsurers, including Lloyd's of London, XL Catlin and Berkshire Hathaway's National Indemnity. Everest Re, Hiscox and ...
Allianz Dives Into U.S. Wind Farm Investments
Both have committed tax equity for two wind farms under development by EDF Renewable Energy, a U.S. wind farm developer. The two farms – dubbed Roosevelt and Milo – are under development in ...
P/C Insurance Commercial Rates Dropped 4 Percent in January
Rates for commercial property/casualty insurance fell 4 percent in the first month of the new year, continuing a downward trend that is unlikely to halt anytime soon, according to Richard Kerr, CEO ...
Insurers Kept Their Faith in Allianz’s PIMCO During Transition
While investors pulled funds from Pacific Investment Management Co. in the wake of co-founder Bill Gross's departure, yield-hungry insurance companies kept faith with the company. "Last year the ...
France’s AXA Invests $85M in Africa-Based Online Insurance Seller
AXA SA plans to invest 75 million euros ($84 million) in Africa Internet Group, the Nigerian owner of online businesses including retailer Jumia, as France's biggest insurer extends its product ...