News
Fitch Puts Watch on Brit plc
Fitch Ratings has placed some of Brit plc's ratings on Rating Watch Negative following an announcement that Fairfax Financial Holdings intends to acquire Brit for roughly $1.9 billion. The ratings ...
Endoscopies at L.A. Hospital Expose Patients to ‘Superbug’
A large Los Angeles teaching hospital has told scores of patients they were possibly exposed to a drug-resistant bacterial "superbug" during endoscopy procedures that infected seven patients and may ...
Allstate Sees Energy Bond Losses Deepen As Oil Prices Plunge
Allstate Corp., the largest publicly traded U.S. seller of auto and home insurance, said gross unrealized losses widened on energy bonds in the fourth quarter as crude prices plunged. Losses climbed ...
Swiss Re’s Restructuring Costs Slash Profit; $1.1B Share Buyback Begins
Swiss Re AG, swimming in excess capital from lower-than-expected disaster claims, reverted to share buybacks to return cash to investors after three years of paying special dividends. Following the ...
FEMA Seeks to Resolve Sandy Flood Insurance Claim Lawsuits
The Federal Emergency Management Agency is working on settling litigation with hundreds of Hurricane Sandy victims who challenged denials or alleged underpayments of flood insurance claims. Brad ...
Ironshore Eyes ‘Strategic Growth Opportunities’ After Fosun Buys 20% Stake
China's Fosun International has completed plans to grab a 20 percent stake in Ironshore Inc., a billion-dollar insurance holding company led by former AIG executives. The Shanghai-based investment ...
Mega-Drought Looms for Western U.S.
The consequences of climate change paint a bleak picture for the Southwest and much of the Great Plains, according to a new report by Cornell University and NASA researchers. A "mega-drought" likely ...
Alibaba Chair Ma Assures Workers Over U.S. Legal Troubles
Alibaba Group Holding Ltd Executive Chairman Jack Ma urged employees to relax about U.S. lawsuits against the firm over possible failure to disclose information to investors, in a letter to staff ...