Industry News
Warren Buffett: Now Bank of America’s Biggest Shareholder
Warren Buffett's Berkshire Hathaway Inc has become Bank of America Corp's largest shareholder by exercising its right to acquire 700 million shares at a steep discount, more than tripling an ...
Insurers Might Escape Harvey-Related Legal Fights Due to New Texas Law
As if victims of Hurricane Harvey didn't have enough to deal with, a Texas law that takes effect Sept. 1 may make it harder for them to sue insurers for payment of claims. Texas House Bill 1774, ...
U.S. P/C Insurers Generated H1 Net Loss of $5.1B: A.M. Best
The U.S. property/casualty (P/C) industry recorded a net underwriting loss of $5.1 billion for the first six months of 2017, according to preliminary results, compared with a $2.0 billion loss in the ...
Novae Shareholders Approve AXIS Capital’s $611.5M Bid
AXIS Capital Holdings Ltd.'s planned $611.5 million acquisition of Novae Group plc will be going through. AXIS, a Bermuda-based specialty insurer, disclosed that Novae's shareholders on Aug. 29 cast ...
Executives On The Move at XL Catlin and W.R. Berkley
XL Catlin brought on a new client distribution leader for its Southeast broker and client management operation. W.R. Berkley's W.R. Berkley Corp.'s Berkley Program Specialists hired a business ...
Flood Insurance Program Renewal Likely in Harvey’s Wake: Key Republican
A key Republican said Hurricane Harvey will spur Congress to reach a deal to fund the nation's flood insurance program before it expires next month, even though divisions persist over how much the ...
Lloyd’s Insurers’ Hurricane Harvey Risks Drive Investors Away
Lloyd's of London insurers dropped amid speculation that they will suffer losses from Tropical Storm Harvey that's battering Houston, the epicenter of the U.S. oil industry. The storm, which which ...
Hurricane Harvey Flood Insured Losses in Texas Could Rival Katrina’s
Flood damage in Texas from Hurricane Harvey may equal that from 2005's Hurricane Katrina, the costliest natural disaster in U.S. history, said an insurance research group on Sunday. As heavy rain ...