International
Fosun Planning $1B Capital Raise to Fund Insurance Acquisitions
Fosun International Ltd., the Chinese conglomerate that's been buying insurers and property overseas, plans to raise $1 billion partly to fund acquisitions in the insurance industry. The company will ...
Third Point Re: U.S. Expansion Helped Grow New Business in Q1
Third Point Reinsurance Ltd. reported solid gains in net income and new business during its 2015 first quarter, driven in part by its U.S. expansion efforts. The Bermuda-based reinsurer reported ...
Willis Re: Reinsurance Capital Oversupply Makes a Bad Situation Worse
Willis Re offers yet another industry warning about the oversupply of global capital in reinsurance. The reinsurance division of Willis Group Holdings said that dedicated global reinsurance capital ...
Zurich Sees Q1 Profit Dip 4 Percent at General Insurance Unit
Zurich Insurance Group AG, Switzerland's biggest insurer, said first-quarter profit fell 4 percent on lower earnings from general insurance and higher tax payments. Net income declined to $1.22 ...
Ericsson Sues Apple in Europe, Seeking Phone Patent Royalties
Ericsson AB said it sued Apple Inc. in three countries as it ratcheted up a global licensing battle between the companies. The suits in Germany, the U.K. and the Netherlands add to U.S. filings ...
Willis Re Chairman/Ex-CEO Departs to Become Guy Carpenter’s Next Leader
Willis Re Chairman and former CEO Peter Hearn is jumping ship, moving over to Guy Carpenter as its next leader. Hearn won't become chief executive officer of the Marsh & McLennan-owned ...
Swiss Re Sells Off All of Its Euro-Denominated Covered Bonds
Swiss Re AG, the world's second-biggest reinsurer, sold its holdings of euro-denominated covered bonds as the European Central Bank gobbles up the highly-rated debt. The company is the latest ...
Munich Re Loses $800M on Derivatives Contracts in Q1
Munich Re, the world's biggest reinsurer, took a 706 million-euro ($800 million) loss on derivatives contracts in the first quarter, caught off guard by a rally in stock markets. The majority of the ...