News
Zurich Sells Underperforming Russian Retail Unit to Olma Group; Keeps Corporate Biz
Zurich Insurance Group AG, the largest Swiss insurer, said the sale of its Russian retail unit will lead to an estimated loss of about $300 million. The insurer said it is selling the business to ...
Private Insurers Taking to South Carolina Coast
More private insurers are selling wind coverage to South Carolina coastal property owners, leading to a decline in the population of the state's windpool. The South Carolina Wind and Hail ...
Sparking F-35 Fighter Jet Spurs Pre-Air Show Inspection Push
U.S. and British military officials are working on a joint directive to require mandatory inspections of engines on all Lockheed Martin Corp F-35 fighter jets, after an Air Force F-35A caught fire at ...
Thousands in Canada Lose Power After Arthur’s Atlantic Tantrum
Crews were working to bring back electricity to thousands of homes in Atlantic Canada Sunday after post-tropical storm Arthur swept through the area. More than 130,000 customers of New Brunswick ...
Progressive Boosts Ad Spending, But GEICO Still #1: SNL
Progressive Corp. boosted its advertising spending by nearly $70 million year over year to $595.4 million in 2013, the largest aggregate dollar increase among all U.S. property/casualty insurers, ...
Governments Will Gain Free Access to RMS Cat Modeling Technology
RMS said it will give governments free access to its new catastrophe modeling software program through a new initiative with The World Bank and United Nations. A particular goal here is to increase ...
Swiss Re to Grab Chinese Insurer From RSA For $120M
Swiss Re disclosed it is snatching up a Chinese company from RSA Insurance Group for about $120 million as part of a plan to grow its corporate insurance arm. The Zurich reinsurance giant said its ...
Report: P/C Companies Persevered in Q1, Despite Storms and Other Obstacles
Property/casualty insurers in the U.S. made money in the 2014 first quarter even as many key indicators dipped, reflecting industry struggles caused, in part, by a tough winter. Net income after ...