News
Rain and Floods Shaped Allstate’s May Catastrophe Losses
Allstate said it handled estimated pre-tax catastrophe losses for May that reached $178 million, the bulk of which came from four severe weather events. The number actually hit $180 million, pre-tax ...
Buffett’s Berkshire Hathaway Grabs $388M Stake In Australia Insurer
Warren Buffett's Berkshire Hathaway Inc. will pay A$500 million ($388 million) for a stake in Insurance Australia Group Ltd. as part of a plan to expand in the region. The agreement will give ...
Report: AIG Seeking Chief Investment Officer to Manage $350B Portfolio
American International Group Inc. is seeking a chief investment officer to oversee a portfolio valued at more than $350 billion, according to a person with knowledge of the insurer's plan. The money ...
Climate Change Places Investment Returns at Risk: Mercer
Climate change could adversely affect investment returns in the coming years. With that in mind, investors should rely on environmental risk modeling to determine how to adapt and minimize impact, ...
U.S. Fed Considering Nationwide Capital Standard: Reuters
The U.S. Federal Reserve is considering a proposal for new nationwide insurance capital standards that would rely heavily on the current system of state-based regulations, according to a copy of the ...
Long-Term Stability of Reinsurance Market Questioned
The reinsurance market is moving from coverage of acts of God to one that covers commoditized risks – an evolution that could have long-term implications for market stability and trading ...
AIG Ex-CEO Greenberg Will Appeal Bailout Ruling That Left Out Damages
Maurice "Hank' Greenberg, who won what most considered a long-shot case with a ruling that the U.S. government acted illegally towards American International Group Inc. shareholders in the terms it ...