Industry News
Reinsurance M&A Won’t Solve Problems With Soft Market: S&P
While mergers and acquisitions in the global reinsurance sector have accelerated in recent months, consolidation won't adequately address falling prices and other competitive pressures, Standard ...
West Virginia Oil Train Derailment Threatens Drinking Water
U.S. regulators joined the investigation into a fiery CSX Corp. oil-train derailment in West Virginia that forced residents to flee their homes in frigid weather and threatened drinking water. The ...
Two Other Lloyd’s of London Insurers Viewed as Takeover Targets
Lloyd's of London insurers Lancashire Holdings Plc and Novae Group Plc may be the next in line for takeover offers after Brit Plc became the second U.K. firm within weeks to agree to be acquired. ...
Another M&A Deal: Fairfax Financial Grabbing U.K.’s Brit For $1.88B
Fairfax Financial Holdings Ltd., the Canadian property and casualty insurer run by contrarian investor Prem Watsa, said it would buy Brit plc for about $1.88 billion to become one of the top five ...
The Hartford Announces Passing of Former Chairman McGee
Liam E. McGee, former chairman, president and chief executive officer of The Hartford, died on Friday after a battle with cancer, the company announced on Monday. McGee, a former executive for Bank ...
QBE Selling Australian Agency Businesses to Steadfast
QBE announced on Monday that it has agreed to sell its Australian and New Zealand agency businesses to Steadfast Group Limited for A$290 million (roughly $225 million). The businesses include CHU ...
Smaller Companies Not Embracing Cyber Risk Insurance: Treasury Dept.’s Raskin
While the overall cyber risk insurance market is growing tremendously, larger corporate clients have driven much of the expansion. Smaller companies, on the other hand, have not followed suit, Deputy ...
AAA: Americans Drive Unsafely, Even Though They Know Better
Auto insurers take note: Many Americans are driving while speeding, sleepy and texting. They also run red lights, even though they know better, according to a new survey. In other words many drivers ...