Industry News
Zurich’s General Insurance Revamp May Affect 8,000 Positions
Last December, Zurich Insurance Group AG announced expanded plans to cut relocate or change at least 1,800 jobs in a bid to save money and revamp its struggling general insurance unit. Now, the ...
AIG Will Expand Board to Include Billionaire Paulson and Icahn Rep
American International Group, Inc. disclosed on Feb. 11 that its board will expand from 14 seats to 16 seats, a move that accommodates two activist shareholders: billionaires John Paulson and Carl ...
The CNBC Halftime Report is the place for market-moving interviews and fast-paced market analysis. It places investors right at the...
AIG’s Quarterly Operating Loss Worse Than Expected; Share Buyback Accelerates
American International Group Inc, the biggest U.S. commercial insurer by premiums, reported a bigger-than-expected quarterly operating loss, hurt by weak underwriting and lower returns on investments ...
Insurers/Reinsurers Latest Casualties of Oil Price Slump as Premium Rates Plunge
The insurance industry is becoming the latest casualty of the oil price slump, with postponements and cancellations of energy projects forcing down premium rates and income in a market that was ...
Kemper P/C Group Head Exits After Division’s Q4 Operating Loss
Kemper Corp.'s Denise I. Lynch is leaving her position as Property/Casualty group executive, effective immediately, to pursue other opportunities, the insurer said. The news comes after Kemper ...
Zurich Announces New CEO Start Date; Q4 Loss Hits $424M
Zurich Insurance attempted to mollify investors on Thursday by bringing forward the start date for incoming Chief Executive Mario Greco and holding its dividend unchanged. But a steeper-than-expected ...
Lloyd’s, London Market Face Huge Uncertainty if UK Leaves EU
A UK exit from the European Union will create a "rarely experienced" level of uncertainty for Lloyd's, the London market as well as the UK and other European economies, according to Sean McGovern, ...
MetLife Battle Against Too-Big-to-Fail Label Has Implications for AIG
A U.S. lawyer defending the government's decision to designate MetLife Inc. a potential threat to the economy was questioned sharply by a federal judge who was asked by the company to remove the ...