Global Economy
NY Fed Beefs Up Chicago Office in Disaster Risk-Reduction Plan
The New York branch of the U.S. Federal Reserve, wary that a natural disaster or other eventuality could shut down its market operations as it approaches an interest rate hike, has added staff and ...
AIG Buys Piece of Cyber Risk-Reduction Firm
American International Group has invested in a global investigative consultancy in a bid to deepen its ability to help clients combat cyber risks. Financial details aren't being disclosed. But AIG is ...
BP Spill Leads to Proposed Risk Reduction Rules For Offshore Oil Wells
The Obama administration proposed tighter rules for the offshore drilling equipment designed to be a last line of defense against oil-well blowouts, five years after the fatal BP Plc spill off ...
Fairfax Financial Will Sell 30% of Brit Plc to Ontario Pension Fund
Fairfax Financial Holdings Ltd. will sell as much as 30 percent of Brit Plc to the Ontario Municipal Employees Retirement System two months after agreeing to buy the Lloyd's of London insurer for ...
Google Hit With European Union Antitrust Complaint and New Investigation
The European Union escalated its four-year- old probe into Google Inc., accusing the Internet giant of abusing its dominance of the search-engine market and starting a new investigation into its ...
PartnerRe Gains Second Suitor in EXOR With Its $6.4B Cash Bid
European investment company EXOR has emerged as a second suitor for PartnerRe Ltd. with the announcement of its proposed $6.4 billion all-cash acquisition of the Bermuda-based reinsurer. If accepted, ...
Employee Snafus a Big Factor in Cyber Attacks, Verizon and Symantec Find
When a cyber security breach hits the news, those most closely involved often have incentive to play up the sophistication of the attack. If hackers are portrayed as well-funded geniuses, victims ...
Travelers Grabs Bulk of P/C Biz From Brazilian Joint Venture
The Travelers Companies Inc. will snatch up the bulk of the property casualty business from its joint venture in Brazil, underscoring insurers' increasing focus on emerging markets. Financial details ...