Industry News
What Lured Aon, Noble and Others to Move Headquarters to London
The Swiss town of Baar boasts clean air, easy access to ski slopes and some of Europe's lowest personal taxes. London? Traffic and perpetual drizzle. Yet executives at Noble Corp., a provider of ...
TVA Insurers Have Paid $92 Million of Ash Spill Cleanup Thus Far
About $42 million has been recovered in the last week by the Tennessee Valley Authority to help pay for more than $1 billion in expenses stemming from the cleanup at the 2008 ash spill at the ...
Lehman’s Australia Creditors Approve $48 Million Insurance Deal
Creditors of Lehman Brothers Holdings Inc.'s Australian unit approved an insurance payment plan allowing them to recover about $48 million of investment losses. U.S. insurers agreed to provide $45 ...
Allianz CEO Diekmann: Solvency II, Basel Create Room for Acquisitions
Michael Diekmann, chief executive officer of Allianz SE said tougher financial regulation will create takeover opportunities for Europe's biggest insurer. "If Solvency II and Basel III mean more ...
Spending on Ads Beats Spending on Auto Insurance Agents: Researchers
Research published by Nomura Equity Research in mid-October shows that GEICO has overtaken Allstate to become the nation's second-biggest auto insurer, and that agency-writer Progressive is losing ...
Federal Agencies Prepare Rule Requiring Lenders to Accept Private Flood Insurance
Five federal regulatory agencies are considering a rule that could boost sales of private flood insurance. The proposal would require lenders to accept private flood policies to satisfy the mandate ...MGIC Posts Second Profit in a Row as U.S. Housing Market Recovers
Mortgage insurer MGIC Investment Corp. posted its second straight quarterly profit as a recovery in the U.S. housing market lowered the number of defaulters, sending its shares up as much as 16 ...
Bernanke Does Not Have to Testify in AIG Bailout Lawsuit
Federal Reserve Chairman Ben Bernanke does not have to testify in the multibillion-dollar lawsuit by the former chief of American International Group Inc. against the United States over the insurer's ...