Global Economy
Australia’s Coal Miners and Farmers Avoid Brunt of Powerful Cyclone
Commodities producers were spared the full wrath of a powerful cyclone that smashed into the east cost of Australia packing winds up to 285 kph (175 mph), but thousands of coastal residents on Monday ...
Berkshire Hathaway Specialty and Ironshore Fill Out Singapore Teams
Both Berkshire Hathaway Specialty Insurance and Ironshore International have filled executive positions in Singapore, with a mandate of adding new customers in the Asia/Pacific region. Berkshire ...
Swiss Re Eyes South Africa For Commercial Insurance Expansion
A division of Swiss Re has expanded into South Africa with a focus on commercial insurance coverage and services for mid-and large-sized corporate clients. Swiss Re Corporate Solutions' advance into ...
Train-Delivered Canadian Crude Oil Shipments Will Need More Insurance
The Canadian government is overhauling its safety rules for crude oil shipments by train, creating a disaster fund and forcing railways to carry more insurance. Oil companies will pay into the fund, ...
Allstate Sees Energy Bond Losses Deepen As Oil Prices Plunge
Allstate Corp., the largest publicly traded U.S. seller of auto and home insurance, said gross unrealized losses widened on energy bonds in the fourth quarter as crude prices plunged. Losses climbed ...
Swiss Re’s Restructuring Costs Slash Profit; $1.1B Share Buyback Begins
Swiss Re AG, swimming in excess capital from lower-than-expected disaster claims, reverted to share buybacks to return cash to investors after three years of paying special dividends. Following the ...
FEMA Seeks to Resolve Sandy Flood Insurance Claim Lawsuits
The Federal Emergency Management Agency is working on settling litigation with hundreds of Hurricane Sandy victims who challenged denials or alleged underpayments of flood insurance claims. Brad ...
Ironshore Eyes ‘Strategic Growth Opportunities’ After Fosun Buys 20% Stake
China's Fosun International has completed plans to grab a 20 percent stake in Ironshore Inc., a billion-dollar insurance holding company led by former AIG executives. The Shanghai-based investment ...