Industry News
The Netherlands’ SNS Reaal: Global Interest in Insurance Operations Sale
SNS Reaal, the Dutch financial services group nationalized last year, said international and domestic parties had expressed interest in its insurance operations which will go up for sale in ...
Which Nonbank Financial Firms Will Face More Regulatory Oversight?
The U.S. systemic risk council will meet on Sept. 4 to discuss naming nonbank financial firms for tougher regulatory oversight, the U.S. Treasury Department said on Thursday. The Financial Stability ...
JLT to Merge With Lloyd & Partners, Pursue U.S. Specialty Expansion
Jardine Lloyd Thompson Group plc (JLT) caught merger fever again. The provider of insurance, reinsurance and employ benefits-related advice and services said it would merge one of its divisions with ...
Asia Ripe For Reinsurance Expansion, Fitch Says
Softening premium rates in Asia and the market's broad potential for growth is spurring a regional spike in demand for reinsurance, Fitch Ratings has concluded in a new report. What's more, that ...
Why Many Californians Take Their Chances Without Earthquake Insurance
During Sunday's 6.0 magnitude earthquake, some $75,000 worth of bottles of wine, rum and whiskey flew off the shelves of Aiyaz Masani's liquor store in Napa, California. He estimates about half his ...
Tower Group Dealt More A.M. Best Ratings Downgrades
Tower Group International must deal with more ratings downgrades from A.M. Best, spurred by its soaring net losses and uncertainty over whether it can carry its debts through an intended merger with ...
USAA Names New CEO From Within
USAA, the insurance and financial services giant, has named a longtime internal executive with experience running its property/casualty arm as its next CEO. Stuart Parker becomes USAA's new chief ...
JPMorgan, Other Banks Focus of Latest Cyber-Attack
JPMorgan Chase & Co., the biggest U.S. bank, said it increased defenses against computer hackers after an attack against the industry this month. The lender is working with U.S. authorities to ...