Global Economy
Cyber Risk Shortfall: Company Property Assets More Broadly Protected Than IT
A new industry survey underscores how companies aren't yet adequately covering their information technology risks, even as as cyber vulnerabilities rapidly become more costly and serious. Among the ...
XL Catlin Chooses Ex-Citibank CEO as Board Chairman
XL Catlin has chosen a former Citibank CEO as its new, post-merger chairman of the board. Eugene McQuade will fill the top board slot after having served as a director with parent XL Group since ...
Asia Anticipates Crop Damage as El Nino Emerges
In 2009, the El Nino brought the worst drought in four decades to India. It razed wheat fields in Australia and damaged crops across Asia. Food prices surged. A closely watched forecast by Japan on ...
EXOR, Playing M&A Hardball, Buys Stake in PartnerRe and Raises Bid
EXOR SpA upped the ante in the takeover battle for PartnerRe Ltd., raising its bid by 5.8 percent in a final push to beat out rival AXIS Capital Holdings Ltd. for control of the reinsurer. EXOR, the ...
Insurers Boost Lobbying Efforts to Shape National Capital Rules
Insurance firms, already among Washington's biggest donors, are securing powerful allies in Congress as the Federal Reserve draws up nationwide capital rules for the $1 trillion industry after years ...
Ex-NYS Insurance Superintendent Joins Guy Carpenter in Leadership Role
Guy Carpenter is bringing on a former New York State insurance superintendent in a bid to boost its regulatory advisory-prowess. The risk/reinsurance broking advisory firm said that James Wrynn will ...
Third Point Re: U.S. Expansion Helped Grow New Business in Q1
Third Point Reinsurance Ltd. reported solid gains in net income and new business during its 2015 first quarter, driven in part by its U.S. expansion efforts. The Bermuda-based reinsurer reported ...
Willis Re: Reinsurance Capital Oversupply Makes a Bad Situation Worse
Willis Re offers yet another industry warning about the oversupply of global capital in reinsurance. The reinsurance division of Willis Group Holdings said that dedicated global reinsurance capital ...