Industry News
Allstate, BofA Agree To End $700M Lawsuit Over Toxic Mortgages
Allstate Corp and Bank of America Corp's Countrywide unit have agreed to dismiss a lawsuit stemming from $700 million of toxic mortgage debt, according to a court filing on Tuesday. The parties "have ...
SNL’s Top 30 E&S Writers: Berkshire On Fire With 40% Growth in 2013
With 40 percent premium growth in 2013, Berkshire Hathaway Inc. climbed five spots in the U.S. excess and surplus lines ranking compiled by SNL Financial, while QBE scaled back its North American ...
China Could Attract More Global Firms with Relaxed Insurance M&A Rules
China's decision to partially relax mergers and acquisition rules in the insurance industry could see global insurance firms expand their footprint in the $288 billion market. Beijing would allow ...
Hiscox Re Announces CFO, COO Appointments
Hiscox Re, the newly combined reinsurance operations of Hiscox, announced the appointments of Reeva Bakhshi as chief financial Officer and Paresh Thakrar as chief operating officer on Monday. CFO ...
RMS’ Exceedance 2014 Conference Kicks Off April 14 in D.C.
Newark, Calif.catastrophe-risk management firm RMS announced that its Exceedance 2014 event will take place next week in Washington, D.C., with keynote speakers that include the first chief ...
Bank of America to Pay $228M to Settle Forced-Place Insurance Claims
Bank of America Corp. agreed to pay $228 million to settle claims the bank overcharged for insurance homeowners were forced to accept when their regular policies lapsed. The amount was disclosed in a ...
Canadian Pacific Railway Backs Shipper Insurance Requirment
Governments should require companies shipping crude oil by rail to carry enough liability insurance to make up for shortfalls in coverage carried by railways, the president of Canada's second-largest ...
Australia’s Wesfarmers to Sell Insurance Brokerage to Arthur J. Gallagher
Perth, Australia-based conglomerate Wesfarmers has agreed to sell the insurance brokerage and premium funding operations of its Insurance division to subsidiaries of U.S.-based broker Arthur J. ...