News
Nomura Will Pay $480M to Resolve Claims Over Mortgage-Backed Securities
Nomura Holdings Inc has agreed to pay $480 million to resolve civil claims by the U.S. government that it misled investors in marketing residential mortgage-backed securities, U.S. authorities said ...
SCOTUS Rejects Appeal From Lead-Paint Makers in $400M Case
The U.S. Supreme Court rejected appeals from Sherwin-Williams Co. and Conagra Brands Inc., leaving intact a ruling that requires them to pay more than $400 million for lead-paint remediation in ...
Lemonade Investor SoftBank Will Pump More Money Into Insurance
SoftBank's Vision Fund plans to pump more money into insurance, a sector it sees as both ripe for disruption and a potential booster for its bigger bets in cars, health and financial services, a ...
Google Invests in Applied Systems, a Maker of Cloud-Based Software for Independent Agencies
Google's investment arm has purchased a minority stake in Applied Systems, an Illinois-based global provider of insurance technology and cloud-based software for independent agencies. Google has ...
Executives On The Move at Zurich North America and AXIS Re
Zurich North America has a new head of Casualty – a rising executive who has been with the Switzerland-based carrier since 1997. AXIS Re, the reinsurance arm of AXIS Capital Holdings Limited, found ...
New U.S. Law Places Greater Focus on Disaster Resilience, Though Shortfalls Remain
The U.S. government is starting to focus more on disaster resilience, rather than just responding to natural catastrophes when they occur – something long called for by the property/casualty ...
Neal Begins Stint as Lloyd’s CEO
New Lloyd's CEO John Neal officially took the reins of the specialist insurance and reinsurance market on Oct. 15. Neal, a 30-year insurance industry veteran, was most recently group CEO of QBE ...
California Utility Shuts Power for 60,000 People to Prevent Wildfires
PG&E Corp. has deliberately left customers in the dark for the first time as a precaution to prevent wildfires from breaking out. Almost 60,000 customers in six counties across the Sierra Nevada ...