Industry News
Richard Ward to Chair Brit Insurance Holdings
Brit Insurance Holdings BV announced the appointment of Dr. Richard Ward as Chairman of the Company and of Brit Syndicates Limited. Subject to regulatory approval, Ward will assume the position on ...
Duperreault Partnering with Hedge Fund to Buy Cohen’s S.A.C. Re, Ltd
Steven A. Cohen, the billionaire founder of SAC Capital Advisors LP, agreed to sell a reinsurer he formed in 2012 after the hedge fund firm reached a $1.8 billion deal to end a criminal ...
Rate Gains Tapering in Commercial Lines: Towers Watson
Even though commercial insurance prices increased for the 11th straight quarter—rising by 5 percent in aggregate during third-quarter 2013—price gains are slowing down, according to Towers ...
Tornado Economic Cost Tops $1B from Rare November Storms, Aon Says
Tornadoes and thunderstorms that swept across the U.S. Midwest last month will probably cost more than $1 billion in economic losses, led by damage in Illinois and Indiana, according to insurance ...Bushey Succeeds Powers As President of Berkley’s Carolina Casualty
W. R. Berkley Corp. has named Gerald B. Bushey as president of its subsidiary, Carolina Casualty Insurance Group. Bushey succeeds Douglas J. Powers, who is retiring. Based in Jacksonville, Florida, ...
QBE Sees $250 Million Net Loss in 2013 on North America Business
QBE Insurance Group Ltd., Australia's largest insurer by market value, forecast an unexpected net loss of about $250 million for 2013 due to write downs at its North American operations. The forecast ...
Investment into Emerging Markets to Fall in 2014: World Bank
Foreign direct investment into emerging markets should decline next year because of persistent concerns about the global economy, the World Bank's political risk insurance arm said on Thursday. For ...MGIC Leads Mortgage Insurer Rally as Goldman Sachs Says Buy
MGIC Investment Corp. and Radian Group Inc. jumped in New York trading after Goldman Sachs Group Inc. recommended investors buy the shares, citing the potential for sales growth amid an improving ...