Markets
Berkshire Hathaway Specialty Insurance Names Parente to Head New Life Sciences Business
Berkshire Hathaway Specialty Insurance announced Thursday that it is expanding its underwriting capabilities to address life sciences industry risks and has named John Parente to head the area. The ...
Citigroup Dives Deeper Into Derivatives Risks
In the past five years, the firm that took the largest U.S. bank bailout of the financial crisis increased the total amount of derivatives on its books by 69 percent, surpassing most U.S. peers and ...
Hurricane Polo Could Worsen Before Weakening
Hurricane Polo may strengthen a little more before it begins to weaken this weekend as it moves parallel to Mexico's Pacific coast, the U.S. National Hurricane Center said. Polo has top sustained ...
More Self-Driving Car Tests to Hit California Roads
Mercedes-Benz has followed Volkswagen AG's Audi unit in getting a license to test self- driving vehicles on California roads as the luxury-car makers vie for a market predicted to grow to $87 billion ...
Ridesharing Insurance Legislation Becomes Law in California
California Governor Jerry Brown signed new insurance requirements on ridesharing companies into law on Wednesday, but the regulations come at a far lower cost to the industry than previously written ...
Tower Group, Now Part of ACP Re, Gets a Ratings Boost
Now that Tower Group International is a part of Bermuda-based reinsurer ACP Re Ltd., its financial ratings have stopped dropping and are improving. A.M. Best said it upgraded the financial strength ...
Eight Years and Counting; Reserve Releases Continue, Fitch Says
Property/casualty industry prior-year loss reserves developed favorably for eight straight calendar years as of year-end 2013, according to a new report from Fitch Ratings, which also says the ...
Fireman’s Fund, Minus Commercial, to Zero in on Personal Lines
While Allianz is bringing Fireman's Fund Insurance Company's commercial lines business into its own operations, the short-term plan with its personal lines arm appears to be a focus on maintaining ...