Industry News
AIG Closing Georgia Shared-Service Center; 420 Workers Impacted
American International Group Inc., the largest commercial insurer in the U.S. and Canada, is closing an office in Georgia with 420 workers. Some positions at the Alpharetta shared-service center will ...
James River IPO Could Raise Up to $288 Million
James River Group Holdings Ltd, a Bermuda-based insurance holding company, filed for an initial public offering of common shares that would raise up to $288 million. Hedge fund D.E. Shaw & Co ...
Home Depot Also Admits Hacker Theft of 53 Million E-Mail Addresses
Home Depot Inc., which suffered a data breach between April and September, said 53 million e-mail addresses were taken by hackers during the attack, in addition to the 56 million payment cards that ...
New Online Tool Helps Predicts Risk For Deadly Coastal Hurricanes
When a hurricane comes ashore, there are so many dangers: tree-snapping winds, torrential downpours and even tornadoes spawned by the tempest itself. But it's the wall of water that tropical systems ...
Zurich Insurance CFO Sees the Market Environment as ‘Getting Tougher’
Zurich Insurance Group AG, Switzerland's biggest insurer, reported third-quarter profit that missed analysts' estimates as income from general insurance fell while taxes rose. Net income fell to $928 ...
Virgin Galactic Crash Could Help Trigger Aviation Rate Hikes: A.M. Best
Aviation insurance could get more expensive in the coming months, thanks in part, to the recent crash of the Virgin Galactic test flight and the NASA Antares rocket explosion A.M. Best concluded in a ...
Wells Fargo Acknowledges U.S. Mortgage Insurance Settlement Talks
Wells Fargo & Co said on Wednesday it is in discussions with the U.S. government to resolve a lawsuit accusing the nation's largest mortgage lender of cheating taxpayers by submitting ineligible ...
In Brazil, Mapfre to Market Insurance on Gift Cards at Retail Stores
Mapfre SA plans to use gift cards sold at retail stores, gas stations, newsstands and vending machines as a way to entice Brazilians to buy insurance. Spain's largest insurer, which sells auto, ...