Industry News
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 ...
Effective compliance management in insurance relies on well-organized information and digital processes that accurately reflect producer relationships across multiple interconnected...
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. ...
American Financial Buying WC Unit Summit Southeast from Liberty Mutual
American Financial Group has agreed to buy Summit Holdings Southeast Inc. and its related companies from Liberty Mutual Insurance in an all-cash transaction valued at $250 million. Based in Lakeland, ...
The Hartford Elects Richardson to Board of Directors
The Hartford on Thursday announced the election of Julie Richardson to its board of directors. Richardson will serve on the board's Audit Committee as well as the Finance, Investment and Risk ...