International
Disasters Cost Insurance Industry $20B in First Half
According to Swiss Re's preliminary sigma estimates, total economic losses from natural and man-made disasters were $56 billion in the first half of 2013, down from $67 billion in first-half 2012. ...
New China Trust Pulls Bid for AIG’s Plane Leasing Firm Over Regulator: Report
New China Trust, which led a Chinese investor group in a $4.2 billion bid for American International Group Inc.'s aircraft-leasing unit, pulled out of the deal on concern its ties with a Chinese ...
Allianz Mulls Carbon Credit Expansion After Indonesia Investment
Allianz SE, Europe's largest insurer, is considering expanding its business of buying carbon emission credits after getting enough of the certificates from a project in Indonesia to help offset its ...
Cat Bonds Rally With Hurricane Season Advancing
Gains on catastrophe bonds are poised to exceed returns on speculative-grade company debt by the most since 2008 as the Atlantic hurricane season heads into its fourth month. Notes designed to ...QBE Profit Plunges 37%; CEO Neal Targets Costs
QBE Insurance Group Ltd., Australia's largest insurer by market value, fell the most in nine months in Sydney trading after reporting a 37 percent drop in first-half net income. QBE shares were 8.3 ...
Lloyd’s Insurers Face More Bond Losses on Fed Reserve Tapering
Insurers in the Lloyd's of London market, sideswiped by the Federal Reserve's plan to scale back debt purchases, may face more losses as rising Treasury yields erode the value of their short-term ...
Willis Redux of Aon-Berkshire Scheme Will Be Negative for Lloyd’s: Moody’s
Reacting to news that Willis Group Holdings is close to signing up insurers for a "passive underwriting scheme" at Lloyd's of London, Moody's Investor's Services said the new scheme would be a credit ...
Former Willis CEO Plumeri Joins Buyout Firm KKR as Senior Advisor
KKR & Co., the buyout firm run by Henry Kravis and George Roberts, hired former insurance executive Joseph Plumeri as a senior adviser to help find new deals and to work with portfolio companies. ...