News
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 ...
I’ve been in this industry long enough to know that a great year can also be a warning sign more...
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 ...
Everest Re Hires Marsh Vet to Lead Division’s U.S. Insurance Operations
Everest Re Group brought in a Marsh & McLennan veteran to head the U.S. offices of one of its insurance arms. Jonathan Zaffino is now president of Everest National Insurance Company's U.S. ...
Low Interest Rates Threaten Insurer Success in Europe: A.M. Best
Insurers and reinsurers alike could see some adverse affects from financial and social instability in the European Union, A.M. Best said in a new report. Points of concern range from quantitative ...
GM Customers Struggle to Propel $10B Suit Over Falling Car Values
Drivers of Chevy Cobalts and Saturn Ions met with skepticism when they tried to restart a $10 billion lawsuit accusing General Motors Co. of exposing them to falling car prices. U.S. Bankruptcy Judge ...