International
Catastrophe Bonds Cutting Reinsurance Prices, Says Swiss Re CFO Quinn
Swiss Re Ltd. Chief Financial Officer George Quinn said increasing sales of catastrophe bonds will put pressure on reinsurance contract prices as they compete for disaster coverage. "While the market ...Catlin Hurt By Sandy, Costa Concordia Losses, Bond Slump
Catlin Group Ltd., the second-largest Lloyd's of London insurer by market value, fell in London trading after it reported lower-than-expected first-half earnings, hurt by rising bond yields and ...
Commentary: Does FSOC Understand the Business of Insurance?
The Financial Stability Oversight Council (FSOC) designated AIG as a Systemically Important Financial Institution (SIFI) after determining that "material financial distress at AIG could pose a threat ...Greenberg Among Investors Buying Landmark Tokyo Building
A group including former U.S. insurance magnate Maurice "Hank" Greenberg and an Abu Dhabi sovereign fund have agreed to buy a prominent Tokyo office building for $1 billion, the biggest property deal ...
U.S. Railway in Quebec Disaster Gets Canada Bankruptcy Protection
The U.S. railway whose runaway train killed 47 people in a tiny Quebec town last month was granted bankruptcy protection from a Canadian court on Thursday and took steps in that direction in a U.S. ...Third Point Re With No U.S. Staff Claims Eligibility for JOBS Act Disclosure Limits
Billionaire hedge-fund manager Daniel Loeb's Third Point Reinsurance Ltd., which has no staff in the U.S., said it can limit financial disclosure after a public offering because of rules promoting ...
Goldman Sachs to Sell Its European Insurance Business
Goldman Sachs Group Inc. said it probably will sell a majority stake in its European insurance business in the next 12 months. The business, known as Rothesay Life Ltd. and run by Addy Loudiadis, had ...
Swiss Re Reports Net Gain But Underwriting Loss Due to Disaster Claims
Swiss Re Ltd., the world's second- biggest reinsurer, reported its first quarterly underwriting loss since 2011 after a surge in claims from natural catastrophes and man-made disasters. The combined ...