Global Economy
Munich Re Steps Into U.S. Private Flood Insurance Market
Munich Re's U.S. arm sees growth potential in the private flood insurance market. The German reinsurer is launching a personal lines inland flood insurance product targeted at giving more options to ...
AIG Focuses on Japan Integration Plan, Putting More M&A On Hold For Now
American International Group Inc. plans to sit out the unprecedented wave of insurance industry dealmaking and instead focus on integrating businesses in Japan. The timetable for merging AIU with ...
A.M. Best Issues Ratings Downgrade For PartnerRe; S&P Goes ‘Negative’
PartnerRe's agreement to be acquired by Italian investment firm EXOR for $6.9 billion rather than merge with AXIS Capital Holdings drew a swift rebuke from A.M. Best, which downgraded its financial ...
Berkshire Hathaway Specialty Targets Australia/New Zealand Marine Insurance Market
Berkshire Hathaway Specialty Insurance Company is diving into marine insurance underwriting in both Australia and New Zealand. BSHI said it has appointed Dimitry Zilberud as head of marine, and Mark ...
XL Catlin Already Realizing Benefits of M&A Deal With Income/Premium Gains
XL Group, corporate parent of the newly merged XL Catlin, saw some real benefits from consolidation in the 2015 second quarter - its first as a combined company. Net income for Q2 reached $915 ...
AIG’s Commercial P/C Underwriting Unit Faced Continued Q2 Struggles
Insurer American International Group Inc reported a 5.6 percent jump in quarterly operating profit, driven by investments in one of China's biggest insurers and earnings from aircraft leasing company ...
TigerRisk Pursues Asia Expansion With Launch of Hong Kong Office
TigerRisk Partners has established a beachhead in Asia, starting with a new Hong Kong office launched via a subsidiary. The Connecticut-based insurance broking and risk/capital management firm said ...
Car Hacking Risks May Go Well Beyond Fiat Chrysler: U.S. Regulator
The cyber security issues that led Fiat Chrysler Automobiles NV to recall 1.4 million vehicles this month could pose a problem for cars and trucks from other automakers, the top U.S. auto safety ...