Industry News
Former AIG CEO Greenberg Loses Court Appeal Over 2008 Bailout Ruling
A federal appeals court threw out a ruling that the U.S. government illegally bailed out insurer American International Group Inc during the 2008 financial crisis, in a defeat for former chief ...
Generali Sees Profit Potential in Expanded Asset Management Operations
Generali is looking to buy portfolio management teams to expand its asset management operations and beef up its fee-based business, the Italian group said after reporting a 9 percent fall in ...
Bunker, a Small Business Digital Insurance Marketplace, Raises $6M Series A
Bunker, a startup broker focused on independent contractors and small businesses, has raised $6 million in Series A funding that will help fuel product development and expansion. Hiscox and American ...
AIG Among Companies Offering Highest-Paying Internships
With 25 percent of the current insurance workforce expected to retire by 2018, leaving 400,000 open positions for which there are no ready replacements, insurers need to look for ways to entice the ...
Cyber Insurance Was Profitable in 2016, Even With Higher Loss Ratios: Aon Benfield
Cyber insurance may be a fast-changing and relatively new market, but it was profitable in 2016 despite higher loss ratios, according to a new Aon Benfield report. The U.S. market combined ratio for ...
French Insurer AXA Moves to Cut Stake in AllianceBernstein With U.S. IPO
A week after Axa SA ousted Peter Kraus from its AllianceBernstein Holding LP unit, the French insurer is taking steps to reduce its financial investment in the money manager to raise cash for deals. ...
AIA CEO Leigh Ann Pusey to Depart for Leadership Role at Eli Lilly
Leigh Ann Pusey, longtime leader of the American Insurance Association, plans to depart in June for an executive role with the pharmaceutical giant Eli Lilly and Co. Pusey has led the AIA since 2009, ...
Munich Re, Hannover Re Hit With Higher Q1 Natural Catastrophe Claims
Reinsurers Munich Re and Hannover Re both reported that first-quarter results are on track to meet their annual targets, despite Q1's higher level of catastrophe claims. Munich Re reported ...