News
UPDATED: China’s Fosun International to Combine With Ironshore in $1.84B Merger
Fosun International Ltd., the investment arm of China's biggest closely held conglomerate, is planning a $1.84 billion merger with Ironshore Inc. after buying the shares it doesn't already own in the ...
How Do Employers Avoid Liability With Legalized Marijuana?
Following the lead of a pioneering few, more states around the country are warming up to the idea of legalizing marijuana use for medical or recreational purposes, or both. But with legalized pot ...
Zurich, Sony Settle PlayStation Data Breach Case
Sony Corp. of America and Zurich American Insurance Co. have reached a settlement in a commercial general liability (CGL) policy coverage case stemming from the April 2011 hacking of Sony's ...
With Merger Complete, XL Catlin Debuts
XL Group Plc.'s approximately $4 billion deal to buy Catlin Group Ltd. closed on May 1. Beginning Monday, May 4, the global insurer and reinsurer debuts a new name: XL Catlin. "After nearly two years ...
U.S. and Canada to Unveil Joint Oil Train Safety Regulations
Canada's transport minister was to be in Washington on May 1 for a joint announcement with her U.S. counterpart aimed at harmonizing safety regulations on shipping crude oil by rail, a politically ...
XL CEO: Illiquid Securities and Infrastructure Will Boost Portfolio Yields
XL Group Plc Chief Executive Officer Mike McGavick said the insurer is looking to illiquid securities and infrastructure investments to boost portfolio yields squeezed by interest rates that are near ...
AIG Commercial P/C Profit Soars; $3.5B Stock Repurchase Planned
American International Group Inc. said it will repurchase another $3.5 billion in stock after first- quarter profit climbed 53 percent on gains at the unit selling property and casualty insurance to ...
PCI, NAMIC, AIA Urge Congress to Protect State-Based Insurance Regulatory Process
The Property Casualty Insurers Association, the National Association of Mutual Insurance Companies and the American Insurance Association are calling for Congress to ensure state-based insurance ...