Industry News
Greek Economic Turmoil May Kill Munich Re Unit’s Acquisition Plan
Munich Re's Ergo Insurance unit may cancel its planned 90.1 million-euro ($100 million) acquisition of Greece's ATE Insurance SA if the country doesn't return to stability. "Depending upon how the ...
Eurozone Insurers Can Withstand Greece’s Instability: A.M. Best
The impact of Greece exiting the eurozone is likely to hit market confidence in the region, although insurers and reinsurers operating in the economic bloc are well positioned to withstand a ...
UK Insurers to Stress Test for Terrorism in London, New York
U.K. regulators have asked property/casualty insurers to stress test their capital reserves against catastrophes, including a synchronized terrorist attack in London, New York and one other major ...
Allstate Ramps Up Bond Trading as Wall Street Retreats, CEO Says
Allstate Corp. Chief Executive Officer Tom Wilson has increased bond trading to boost returns as Wall Street scales back from making markets. "We're a big player in the fixed-income market, we have ...
AXIS and PartnerRe Delay Merger Shareholder Vote to Mull Deal Sweetener
PartnerRe and AXIS Capital Holdings are postponing a shareholder vote on their $6.2 billion merger deal for two weeks as they contemplate enhancing the offer to fend off an unsolicited bid. Italian ...
Hackers, Hitting U.S. Govt., Stole Personal Data From 22.1 Million People
Hackers stole Social Security numbers and other personal data for about 22.1 million people in breaches of the U.S. government's personnel office, the Obama administration said. The total includes ...
Guy Carpenter: July 1 Re Renewals Display More Moderate Decline
July 1 reinsurance renewals show continued price declines, but the downward trend moderated, especially for U.S. wind-exposed programs, Guy Carpenter said in its latest briefing. The Marsh & ...
Nevada Commissioner Kipper Announces Resignation
Nevada Insurance Commissioner Scott J. Kipper last week announced his resignation, effective July 2, 2015. Amy L. Parks has been appointed acting insurance commissioner by Bruce H. Breslow, director ...