Markets
Ameriprise Financial to Exit Travel Insurance Market After Loss
Ameriprise Financial Inc., which is celebrating the 10th anniversary of its spinoff from American Express Co., is abandoning an unprofitable push into travel insurance. "We had a loss associated with ...
Hackers Targeting $330B Space Economy
Space, the "final frontier," is rapidly becoming an extra-terrestrial battleground for corporate espionage and other types of cyber attack as hackers seek to gain commercial advantage from rival ...
Tizzio, Ex-AIG CEO Greenberg’s ‘Right Hand,’ Has Died at 77
Thomas Tizzio, a retired vice chairman of American International Group Inc. who was once seen as a possible successor to its former chief executive officer, Maurice "Hank" Greenberg, has died. He was ...
Knowledge Gaps and Convergence
Insurers covered $500 billion in catastrophe losses in the last 10 years. That huge number appears in Swiss Re's recent sigma report, "Underinsurance of Property Risks: Closing the Gap." It's hardly ...
ACE and Chubb Shareholders Approve $28B Merger by Wide Margin
Shareholders from ACE Ltd. and The Chubb Corp. voted to approve their respective companies' $28 billion merger on Oct. 22 by wide margins. More than 98 percent of ACE shareholders participating in ...
Lloyds, China’s Taiping Insurance to Team on Global Growth Plans
Lloyd's signed a memorandum of understanding with China Taiping Insurance Group intended to boost cooperation between "the world's only specialist insurance and reinsurance market and one of China's ...
ACE CEO Greenberg Predicts Years-Long Integration With Chubb
Ace Ltd. Chief Executive Officer Evan Greenberg said it would be a mistake to start celebrating his agreement to buy Chubb Corp. for more than $28 billion, because the real test will be to integrate ...
U.S. Property/Casualty Net Income Grew Steadily in 2015 First Half
Thanks to a relatively quiet tornado season and slow start to the U.S. hurricane season, there's good news to report concerning property/casualty insurers' net income during the first half of 2015. ...