Industry News
ACE to Buy 69% Stake in Thailand Insurer, Siam Commercial Samaggi
ACE Limited (ACE) said it has agreed to purchase a 60.9 percent stake in The Siam Commercial Samaggi Insurance PCL, a general insurance company in Thailand, from Siam Commercial Bank. Established in ...
Why American Financial is Buying Summit; Execs Reveal Deal Benefits
The ability to use cash for investments is one of the reasons executives of American Financial Group gave for paying $250 million for some former Liberty Mutual workers compensation units last week. ...
Economic Cost of January Freeze Put at $5B, Insurance Costs Not Available Yet
Hunkering down at home rather than going to work, canceling thousands of flights and repairing burst pipes from the Midwest to the Southeast has its price. By one estimate, about $5 billion. The ...
EU to Seek Deal on Overhaul of Financial-Market Rules
European Union lawmakers and national officials will make a renewed attempt this week to clinch a deal to overhaul the bloc's financial-market rulebook. Unresolved issues include to what extent the ...
A.M. Best Moves Tower Rating Status to Developing, Still Under Review
On Friday, A.M. Best Co. announced that it changed the "under review" status Tower Group ratings to "under review with developing" implications rather than "negative" implications—a reaction to ...
IBM Giving ‘Jeopardy’ Champion Watson Its Own Division
International Business Machines Corp. is turning Watson, the technology that triumphed over human "Jeopardy!" contestants, into a separate division to help the computing-services giant return to ...
China’s Fosun Buys 80% of Portugal Insurer for $1.36 Billion
China's Fosun International Ltd. bought 80 percent of Portugal's Caixa Geral de Depositos SA's insurance unit for 1 billion euros ($1.36 billion), beating out U.S. buyout firm Apollo Management ...
Sandy Weill to Chair Ex-Steven Cohen Reinsurer
Sanford "Sandy" Weill, the former head of Citigroup Inc., was named chairman of the board at Hamilton Insurance Group Ltd., which runs the reinsurer that hedge fund manager Steven A. Cohen exited. ...