Industry News
Re Pricing Down For June 1 Florida Renewals: Guy Carpenter
In a briefing published on it the website Monday, reinsurance broker Guy Carpenter said noted that alternative reinsurance capital helped drive traditional reinsurance pricing down for midyear ...
Obama Orders Patent Changes to Combat Abuses
President Barack Obama announced a series of actions aimed at protecting technology, finance and retail companies from lawsuits and demands for fees by businesses that abuse the patent system. The ...
AIG’s Benmosche Uncertain About ILFC Sale; Welcomes Extra Oversight
American International Group Inc. Chief Executive Officer Robert Benmosche raised doubt about whether the company will complete a sale of its plane-leasing unit to a Chinese investor group by a ...
FDIC to Define Non-Bank Financial Firms Under Resolution Powers
The Federal Deposit Insurance Corp. board will vote on rules defining whether a non-bank company is engaged in financial activity to an extent that would subject it to the agency's liquidation in the ...Scor to Buy Generali Reinsurance Unit for $750 Million
Scor SE agreed to purchase the U.S. reinsurance unit of Assicurazioni Generali SpA as part of a plan by Italy's biggest insurer to boost capital. Scor, France's largest reinsurer, would pay about 579 ...
AIG, Prudential Named ‘Systemically Important’ by Financial Stability Council
American International Group Inc., Prudential Financial Inc. and a unit of General Electric Co. were identified by U.S. regulators as potential risks to the financial system in a step toward putting ...
American Safety Being Sold; Fairfax Financial, Tower Group Buying Parts
Fairfax Financial Holdings Limited and American Safety Insurance Holdings, Ltd. have entered into a $306 million merger deal, with Fairfax acquiring all of the outstanding shares of American Safety ...Facultative Reinsurance Spending Down: Faber Global
Several large UK cedants are reducing their spending on facultative reinsurance, according to the view taken by Vanessa Macdonald-Smith, team leader at facultative reinsurance broker, Faber Global, a ...