Global Economy
Financial Institution Cyber Defenses Attract U.S. Regulatory Scrutiny
U.S. regulators on Wednesday said they were stepping up efforts to examine financial institutions' defenses to ward off cyber attacks, as a top FBI official warned of new "increasingly complex" ...
TRIA Reauthorization Passes House With Higher Government Involvement Threshold
The U.S. House voted Dec. 10 to extend by six years a federal backstop for insurers offering coverage against terrorism, advancing efforts to retain a program created in response to the attacks of ...
Travelers Dives into Colombia Through Brazilian Joint Venture
The Travelers Cos. said it will be expanding into Colombia through a joint venture it has maintained in Brazil. By way of its partnership with J. Malucelli Participações em Seguros e Resseguros ...
House Leaders Unveil Their Version of a TRIA Extension, With Attachments
House leaders released a proposed six-year extension of a federal program to insure property against the risk of terrorism, including a Republican proposal to revise a bank regulatory law. The ...
Hartford Reduces Energy Bond Holdings As Oil Prices Drop
Hartford Financial Services Group Inc., the insurer with a $76 billion investment portfolio, has reduced holdings of bonds issued by energy companies amid a slump in oil prices. "We've lightened up a ...
Verisk Grabs ‘Complementary’ British Rival for $31.6M
Verisk Analytics snatched up a British analytics and advisory outfit for more than $31.6 million, beefing up its research and data capacity for geopolitical and other risks in the process. The New ...
AXIS Capital Holdings’ Board O.K.’s New $750M Share Repurchase
AXIS Capital Holdings Ltd. plans to repurchase $750 million in its common shares over the next two years, adding to an already sizable buyback of a few billion dollars worth of shares. The ...
Swiss Re, Prudential, Eye African Reinsurance and Pension Opportunities
A growing middle class in sub-Saharan Africa is enticing European and South African insurers to buy local firms focusing mainly on life insurance and pensions, in the face of mature markets and ...