Industry News
Insurers Took Some of Cyber Breach Impact, Target Says
Target Corp. shares made strong gains after it reassured investors that customers were beginning to return to its U.S. stores, suggesting that the impact of a massive data breach may not be as severe ...
Effort to Put House in Order Paying Off, Says Meadowbrook CEO Cubbin
Meadowbrook Insurance Group, based in Southfield, Mich., has struggled with many challenges during the past couple of years but the "strong remedial measures" implemented to correct unacceptable ...
Treasury’s OFR Contemplating New Study of Systemic Insurance Risk
Expressing concern about risky business in the insurance sector, an advisory committee at Treasury is recommending that its financial data analysis office undertake a detailed study of the sector to ...
RSA’s Hester Taps Buffett’s Berkshire for Reinsurance
After less than a month on the job, RSA Insurance Group Plc Chief Executive Officer Stephen Hester announced a stock sale and tapped Warren Buffett for reinsurance to help strengthen the insurer ...
NY Court Revives Assured Guaranty’s Damage Claims Against Credit Suisse
A New York appeals court on Thursday revived Assured Guaranty Corp.'s claims for certain damages in its lawsuit against Credit Suisse Group AG over allegedly defective loans underlying ...
XL Group Announces Acquisition of Global Ag Insurance Services
XL Group announced Wednesday that XL Reinsurance America Inc., a subsidiary of XL Group plc, has acquired Global Ag Insurance Services, a crop insurance provider based in the western United States. ...
ACE Establishes Eurasia & Africa Region Business; Names Regional Leader
ACE Group announced today that it has established a new business region, Eurasia & Africa, as part of its Overseas General division—the general insurance operations of the company outside North ...QBE 2013 Loss As Expected; U.S. Mid-Market Biz Under Microscope: CEO
There were no surprises when QBE published its year-end financial results on Tuesday, with a $254 million after-tax loss on the bottom line nearly matching a preannounced estimate delivered by the ...