Global Economy
For Allianz, PIMCO Problems Overshadowed by Double-Digit Profit Growth
Allianz SE, Europe's biggest insurer, said second-quarter profit rose 15 percent as lower claims from natural catastrophes offset a drop in earnings at Pacific Investment Management Co. Net income ...
Uber Drivers Pursuing Employee Status Propose Streamlining Their Suit
Drivers suing Uber Technologies Inc. for better pay and benefits are proposing to pursue their group lawsuit in phases focused first on whether they qualify as employees. If they win that round, then ...
AIG Expands Its Use of ILS Financing Into Mortgage Insurance
American International Group disclosed that it is expanding its already robust use of insurance linked securities into its mortgage insurance business. To do this, AIG's mortgage arm – United ...
Munich Re Raises Full-Year Profit Target With Surge of Quarterly Earnings
Munich Re, the world's biggest reinsurer, raised its full-year profit target after net income beat analyst estimates on lower catastrophe claims. The shares rose. Net income rose to 1.07 billion ...
Rios Leaves Top Job at Munich Re’s American Modern Insurance Group
Manny Rios, CEO of American Modern Insurance Group, has left the company. The Ohio-based specialty insurer (and Munich Re subsidiary) said in a prepared statement that Rios is leaving for personal ...
Zurich Sees Profits Shrink, Raising Pressure on CEO to Bid for RSA
Zurich Insurance Group AG Chief Executive Officer Martin Senn is under increased pressure to buy RSA Insurance Group Plc after the two companies reported earnings. Second-quarter profit at ...
New SEC Rule: Companies Must Report CEO-to-Worker Pay Ratio
The U.S. Securities and Exchange Commission approved a rule Wednesday requiring companies to reveal the pay gap between the chief executive officer and their typical worker, handing a new weapon to ...
Travelers CEO Fishman, and Schnitzer, His Successor, Reassure Investors
Departing Travelers CEO Jay Fishman and his designated successor, Alan Schnitzer insist that that the change won't be wrenching, and that the property/casualty insurance giant will experience a ...