Global Economy
Bill Gross Sues PIMCO, Allianz For ‘Hundreds of Millions’ Over Ouster
Bill Gross sued Pacific Investment Management Co. and parent Allianz SE for "hundreds of millions of dollars," claiming he was wrongfully pushed out as the bond giant's chief investment officer by a ...
Watch This Video: Guy Carpenter’s David Priebe Considers The Future of Alternative Capital
Insurance linked securities, cat bonds, or collateralized reinsurance are no longer a novel thing. They're embedded in many insurance company capital frameworks, and, as a result, a routine part of ...
California Wildfire Insured Losses Surpass $1B: Impact Forecasting
With a month to go for the peak California wildfire season, insured losses already surpassed $1 billion in September - the costliest and most damaging for the U.S. in eight years, according to Impact ...
A.M. Best: Half-Year Results Hint at Year Three of Underwriting Profits
The property/casualty insurance industry is likely to post a third consecutive year of underwriting profits, considering its performance in the first half of the year and barring any late year ...
Lloyd’s Insurer Waiting List Reaches 327-Year Record
The waiting list for an insurer to get a spot on the underwriting floor of Lloyd's of London is the longest in its 327-year history, indicating record demand for access to the market. Lloyd's has ...
How to Embed a Culture of Innovation
It may have a reputation for conservatism, but the insurance industry is no stranger to innovation. If we look back through history, we see that insurance has driven innovation in crime prevention, ...
RMS Buys Up Real-Time Hurricane Impact Data Startup
Catastrophe modeling firm RMS has acquired HWind Scientific LLC, a startup focused on producing real-time hurricane impact data. Neither side disclosed financial details. But RMS said the acquisition ...
Wal-Mart, Visa Seek an End to Retailer’s $5B Swipe-Fee Lawsuit
Wal-Mart Stores Inc. and Visa Inc. are in talks aimed at settling the retailer's $5 billion lawsuit over processing fees. The negotiations were disclosed in a court filing Monday in Brooklyn federal ...