Industry News
Greenberg Wants Bernanke to Testify in Suit Challenging AIG Bailout
U.S. Federal Reserve Chairman Ben Bernanke shouldn't be compelled to testify in Maurice "Hank" Greenberg's lawsuit over the government's bailout of American International Group Inc., the Justice ...
‘Breakaway’ Pricing Seen From Capital Markets Pressuring Traditional Re
With third-party investors putting increased levels of capital into catastrophe bonds, sidecars and collateralized reinsurance, pricing in the capital markets is now, for the first time, "decoupled" ...Enstar, Stone Point to Acquire Torus Insurance Holdings for $692M
Bermuda-based Enstar Group Ltd., a firm that typically acquires and manages insurance and reinsurance companies in run-off and portfolios of insurance and reinsurance business in run-off, has agreed ...
Insured Damage from European Floods Will Near $3.8B, Says Munich Re
Flooding in Europe last month will cause more than 12 billion euros ($15.5 billion) of damage, the year's most expensive natural catastrophe, according to Munich Re, the world's biggest reinsurer. ...O’Donohoe to Succeed Tobin as Group CEO for Torus
Dermot O'Donohoe has been appointed group CEO of the Torus Group, the specialty insurer said. O'Donohoe succeeds Clive Tobin, who is retiring and stepping down as an officer and director following ...
U.K. Regulator Reviewing Insurance Add-On Products
The U.K. markets regulator is reviewing whether there is enough competition in insurance add- on products, which are sold along with purchases such as vacations or a car. The market study is looking ...
Commercial Lines Prices Up by 5% Again in June: MarketScout
Increases for commercial property/casualty insurance rates in the United States were again about 5 percent during June, the fourth straight month at that pace. According to the latest composite index ...
China Insurer Buying Lloyd’s of London Building for $388 Million
Ping An Insurance Group Co., China's second-largest life insurer, agreed to buy the Lloyd's of London building from a Commerz Real AG-managed fund, two people with knowledge of the transaction said. ...