Industry News
Questions Arise Over SAC Reinsurance Unit As Hedge Fund Pleads Not Guilty
Billionaire investor Steven A. Cohen's hedge fund pleaded not guilty on Friday to insider trading charges in federal court, as questions also surfaced about the future of SAC Capital's Bermuda-based ...
Allianz, QBE to Face Most Claims from Spain Train Derailment
Germany's Allianz and Australian group QBE bear the bulk of the insurance liability from this week's fatal train crash in northwest Spain, according to sources at the companies. While Allianz's ...
Tokio Marine Targets Southeast Asia for Expansion
Tokio Marine Holdings Inc., Japan's second-largest non-life insurer, is seeking to expand in Southeast Asia as Japan's shrinking population erodes its domestic market. The insurer plans to expand in ...
Greenberg Again Moves to End New York AG’s Lawsuit Against Him
Former American International Group Inc. Chief Executive Officer Maurice "Hank" Greenberg said he's filed another request to dismiss an eight-year-old fraud lawsuit brought by the New York Attorney ...$60M New Jersey Insurer CAT Bond Placed By Towers Watson Capital Markets
Towers Watson Capital Markets announced Thursday that it recently arranged a private placement catastrophe bond, sponsored by New Jersey Manufacturers Insurance Group. The bond, Sullivan Re 2013-1, ...
State Insurance Commissioners Hire Moody’s Critic Kolchinsky
Eric Kolchinsky, the former Moody's Investors Service analyst who told Congress the ratings company cared more about money than accuracy, was hired by the National Association of Insurance ...
Senate Bill Gives Federal Reserve Leeway on Systemically Important Insurers
A bipartisan group of U.S. senators is introducing legislation that would give the Federal Reserve more flexibility in regulating systemically important insurance companies such as American ...
Halliburton Pleads Guilty to Destroying Gulf Oil Spill Evidence
Halliburton Co. has agreed to plead guilty to destroying evidence related to the 2010 Gulf of Mexico oil spill, the U.S. Department of Justice said on Thursday. The government said Halliburton's ...