Reinsurance
Willis Re Unveils $400M Facility For Liability Cat; 20 Reinsurers on Board
Willis Re has rolled out a new syndicated reinsurance facility that gives broad protection for insurers against catastrophic and systemic loss accumulations stemming from liability portfolios. The ...
Swiss Re Predicts More M&A Due to New Regs and Capital Surge
New regulations and an influx of alternative capital will spur more mergers and acquisitions in the insurance industry, Swiss Re AG said. "We expect to continue to see a certain shakeout in the ...
Insurity Grabs Oceanwide in Bid to Build Bigger P/C Industry Software Provider
A Connecticut company that supplies software, data processing and analysis for property/casualty insurers and agents has snatched up a Canadian rival in a bid to diversify. Insurity said it has ...
XL Catlin Chooses Ex-Citibank CEO as Board Chairman
XL Catlin has chosen a former Citibank CEO as its new, post-merger chairman of the board. Eugene McQuade will fill the top board slot after having served as a director with parent XL Group since ...
Asia Anticipates Crop Damage as El Nino Emerges
In 2009, the El Nino brought the worst drought in four decades to India. It razed wheat fields in Australia and damaged crops across Asia. Food prices surged. A closely watched forecast by Japan on ...
EXOR, Playing M&A Hardball, Buys Stake in PartnerRe and Raises Bid
EXOR SpA upped the ante in the takeover battle for PartnerRe Ltd., raising its bid by 5.8 percent in a final push to beat out rival AXIS Capital Holdings Ltd. for control of the reinsurer. EXOR, the ...
Jury Favors Deloitte in Trial Alleging Faulty Audit Before Insurance Company Collapse
The question loomed for years: Was Deloitte & Touche LLP liable for allegedly faulty audits of Florida's Poe Financial Group, whose three property insurance subsidiaries went insolvent after a ...
BP Can Now Appeal Certain Gulf Spill Damages Claims
A U.S. federal appeals court said on Friday BP Plc deserves the right to appellate review of some damage claims awarded to people and businesses in connection with the 2010 Gulf of Mexico oil spill. ...