Markets
Reinsurance Group of America Said to Postpone 40-Year Bond Sale
Reinsurance Group of America Inc. postponed an offering of $300 million of 40-year junior subordinated debt as yields on corporate bonds climb. The reinsurer formerly owned by MetLife Inc. began ...
Hurricane Would Entice—Not Spook—ILS Investors, Says Aon Benfield Exec
Although some reinsurance industry executives believe a major loss would cause catastrophe bond investors to flee from the insurance-linked securities market, an Aon Benfield executive says such an ...
Record Breaking Cat Bond Levels; Good News For Carriers
First-half tallies of 2013 catastrophe bond issues have been coming in from reinsurers and brokers in recent months, with all suggesting that 2013 could be a record year of issuance. Swiss Re, Munich ...
Fairfax Financial to Sell American Safety Reinsurance to Catalina
Fairfax Financial Holdings Ltd. agreed to sell a Bermuda-based reinsurance unit that's being acquired as part of a deal with American Safety Insurance Holdings Inc. to Catalina Holdings Bermuda Ltd. ...
JPMorgan Hit by U.S. Bribery Probe into Chinese Hiring
U.S. authorities have opened an investigation into whether JPMorgan Chase & Co hired the children of powerful Chinese officials to help it win business in China, according to the New York Times. ...
Blackstone in Talks to Buy Stake in Goldman’s U.K. Insurer: Source
Blackstone Group LP, the world's biggest private-equity firm, is in talks to buy a stake in Goldman Sachs Group Inc.'s European insurance business, according to a person with direct knowledge of the ...
Markel Bets on Homebuilding, Acquires Virginia’s Eagle Construction
Markel Corp., the insurer that bought Alterra Capital Holdings Ltd., acquired Eagle Construction of Virginia in a bet on residential development in its home state. Eagle will be the 14th company in ...
Hong Kong’s Li Eyes Ex-AIA Deputy as CEO for New Insurer
Hong Kong businessman Richard Li, the youngest son of Asia's richest man, will appoint a former top executive at AIA Group Ltd as the CEO of his new insurance company, according to people with direct ...