Markets
U.S. Flood Insurance Reform Gets SmartSafer Lobbying Push
The latest attempt to overhaul the U.S. federal flood insurance program hit a stumbling block, but a coalition of business and environmental groups renewed their push on Wednesday for lawmakers to ...
AmTrust’s Financial Plans Earn A.M. Best Ratings Review With Negative Implications
AmTrust Financial Group's recent efforts to raise capital and stabilize its finances apparently aren't enough for A.M. Best, which placed the company's credit and financial strength ratings under ...
Whistleblowers Delay Reporting Fraud If Financial Reward Promised: Study
Financial awards can unintentionally discourage a whistleblower from reporting fraud in a timely manner by hijacking their moral motivation to do the right thing, according to a new study by ...
Zurich, in Cost-Cutting Move, Will Transfer German Legacy Malpractice Book to Catalina
Zurich Insurance Group said it will transfer its German legacy medical malpractice book to Bermuda-based Catalina for an undisclosed price. The portfolio represented $450 million of reserves as of ...
AIG Names New Division Leaders for Lexington Insurance, North America General Insurance
American International Group recently made two new major domestic executive appointments: Lex Baugh is AIG's new chief executive officer, North America General Insurance, and George Stratts has been ...
Allianz Touts Successful Test of Blockchain Tech for Captive Insurance Program
Allianz Global Corporate & Specialty SE (AGCS) has successfully tested blockchain technology for a global captive insurance program, which facilitates cash transfers between countries. AGCS's ...
Britain’s Legal & General Is Expanding Into Japan
British's third-largest insurer, Legal & General, is launching an operation in Japan to offer company pension scheme insurance and investment management, Chief Executive Nigel Wilson said on ...
AmTrust Raising $950M by Selling Stake in Some Businesses to Private Equity Firm
AmTrust Financial Services will make about $950 million by selling a majority equity interest in some of its U.S.-based fee businesses to private equity firm Madison Dearborn Partners. Barry Zyzkind, ...