Global Economy
Ex Peanut Corp. CEO Gets 28 Years For His Role in Salmonella Outbreak
Former Peanut Corp. of America Chief Executive Officer Stewart Parnell was sentenced to 28 years in prison for his role in shipping salmonella-tainted products linked to nine deaths in 2009. Parnell, ...
Zurich May Have Backed Away, but RSA CEO Expects Other Bidders
RSA Insurance Group Plc Chief Executive Officer Stephen Hester said the company will attract bids from other suitors after Zurich Insurance Group AG abandoned its 5.6 billion-pound ($8.7 billion) ...
Beazley, Aspen and Brit Unveil Joint Cyber Consortium at Lloyd’s
Beazley has joined forces with Lloyd's syndicates managed by Aspen and Brit Global Specialty to launch the International Cyber Consortium. The consortium will focus on providing robust data breach ...
Chile Quake Caused $600M-$900M in Insured Losses: AIR Worldwide
The magnitude 8.3 earthquake that struck Chile's central coast on Sept. 16 caused between $600 million and $900 million in insured losses, AIR Worldwide said in an estimate of the destruction's ...
Zurich Insurance Ends Proposed RSA Bid to Address China Hit and Unit Loss
Zurich Insurance Group AG on Monday abandoned its proposed $8.7 billion bid for British insurer RSA Insurance Group PLC after forecasting a $200 million loss in its general insurance business in the ...
Monte Carlo 2015: Reinsurance Adapts to New Realities
The annual Rendez-Vous de Septembre in Monte Carlo, Monaco traditionally focuses on one or two signatory concerns within the industry. This year, things were different. The 2,700 registered attendees ...
Fosun Reportedly Negotiating to Snatch Up RSA’s Middle Eastern Business
Fosun International Ltd., the conglomerate founded by Chinese billionaire Guo Guangchang, is in advanced discussions to acquire RSA Insurance Group Plc's Middle East business, people familiar with ...
Insurers in Chile Should be Able to Handle Quake Claims: Fitch Ratings
Chile continues to assess the damage of an 8.3 magnitude earthquake that killed more than 10 people on Sept. 17 and led to the evacuation of over 1 million people around the coast, according to media ...