Industry News
AIG Appoints Smith COO of Commercial Insurance
American International Group Inc. on Tuesday announced senior leadership changes in its commercial insurance business, naming Michael Smith to the role of chief operating officer. In addition, James ...
Apollo, CVC Planning IPO of Insurer Brit Group
Brit Insurance Holdings B.V., a Lloyd's of London insurer owned by Apollo Global Management LLC and CVC Capital Partners Ltd., is planning an initial public offering in London next month. A minimum ...
Fitch Expects No Rating Impact of Winter Losses
Severe winter weather is causing large losses for property/casualty insurance companies in early 2014, however there should be no rating impact as a result, according to Fitch Ratings. The severe ...
India Opposition Party Vows More Foreign Investment in Insurance
India's opposition Bharatiya Janata Party will consider raising the cap on foreign investment in the insurance sector from the current level of 26 percent if it comes to power after elections due by ...
Is Jain Next? Buffett Vagueness Over Successor Worries Investors
Warren Buffett is seeking to reassure shareholders about how his Berkshire Hathaway Inc. will perform in the decades after he steps down or dies, but remains as vague as ever about succession plans. ...
Fed Response to Financial Crisis Could Have Been More Aggressive: Bernanke
Former Federal Reserve Chairman Ben Bernanke said the U.S. central bank could have done more to fight the country's financial crisis and that he struggled to find the right way to communicate with ...
State Farm Reports Underwriting Profit for 2013
Even though State Farm's auto businesses suffered a loss in 2013, the property/casualty companies reported a $230 million underwriting gain, State Farm reported on Friday. The $230 million gain of ...
N.Y.’s ‘Scaffold’ Law Increases Injuries, Costs $3B a Year: Study
A study published this month challenges the claim that New York's Labor Law 240, also known as the "Scaffold Law," improves workplace safety. The study argues New York incurs additional workplace ...