Global Economy
Insurers to FAA: Include Us In Your Commercial Drone Initiative
The FAA's new partnership with industry to explore the use of commercial drones in newsgathering, agricultural and railroad industries is drawing a cautiously optimistic reaction from the P/C ...
Willis Re Chairman/Ex-CEO Departs to Become Guy Carpenter’s Next Leader
Willis Re Chairman and former CEO Peter Hearn is jumping ship, moving over to Guy Carpenter as its next leader. Hearn won't become chief executive officer of the Marsh & McLennan-owned ...
Swiss Re Sells Off All of Its Euro-Denominated Covered Bonds
Swiss Re AG, the world's second-biggest reinsurer, sold its holdings of euro-denominated covered bonds as the European Central Bank gobbles up the highly-rated debt. The company is the latest ...
Munich Re Loses $800M on Derivatives Contracts in Q1
Munich Re, the world's biggest reinsurer, took a 706 million-euro ($800 million) loss on derivatives contracts in the first quarter, caught off guard by a rally in stock markets. The majority of the ...
Allianz Profit Soars Even as It Deals With PIMCO Setbacks
Allianz SE, Europe's biggest insurer, said first-quarter profit climbed 11 percent, even as investors withdrew funds from its asset manager Pacific Investment Management Co. The shares surged the ...
Allstate Reports a Double-Digit Rise in Profits and Falling Claims Costs
Allstate Corp., the largest U.S. publicly traded seller of auto and home insurance, said first-quarter profit rose 13 percent as margins improved at the property- liability business and catastrophe ...
CNA Targets Smaller Life Sciences Companies With New Coverage Option
CNA is debuting new coverage for the life sciences market – an admitted product liability policy offering targeted to smaller companies. The property/casualty insurer said that its Life Sciences ...
$1.8B Endurance/Montpelier Re Merger Up For July Shareholder Vote
Shareholders with both Endurance Specialty Holdings and Montpelier Re Holdings will likely vote on their planned $1.8 billion merger in early July, Endurance Chairman and CEO John Charman said during ...