News
Runoff Specialists No Longer Buyers of Last Resort in Insurer M&A
Runoff specialists are increasingly becoming visible acquirers of ongoing books of business as M&A activity heats up across the insurance industry, according to a consultant from Towers Watson. ...
Congress Should Weigh Adding Cyber Attacks to TRIA: Chertoff
The nation's lawmakers should consider adding cyber terrorism to the federal Terrorism Risk Insurance Act (TRIA) when they renew that reinsurance program, advises Michael Chertoff, former homeland ...
As the insurance market continues to stabilize, the next phase of the market will reward independent agencies that can respond...
Allstate Names Mabe B2B President
On Monday, the Allstate Corporation announced that Katherine Mabe, president, West Territory of Allstate Personal Lines, was promoted to president, Business to Business (B2B). In her new position, ...
Chamber Wants Tighter Rules on Systemically Risky Designations for Non-Banks
The U.S. Chamber of Commerce is calling for rules that would make it more difficult for a group of regulators to subject financial companies to stricter oversight. A vote of three-quarters of the ...Aspen Re Establishes Silverton Re
Aspen Reinsurance on Monday announced that its Aspen Capital Markets division has established Silverton Re to provide additional collateralized capacity to support its global reinsurance business. ...
Hartford Bailout Warrants Double in 3 Years Since Auction, Aiding Paulson, Berkowitz
Hartford Financial Services Group Inc. warrants climbed to twice the price they sold for in a U.S. Treasury Department auction three years ago, benefiting investors such as Bruce Berkowitz and John ...
U.S. Terror Risk Undiminished As Terror Groups Multiply: Senator
The risk of a terrorist attack against the U.S. hasn't diminished as groups affiliated with al- Qaeda have proliferated and are developing explosive devices designed to elude detection, Senator ...
RSA Ireland CEO Smith Quits, Says Made ‘Fall Guy’ in Accounting Probe
RSA Insurance Group Plc's Irish unit Chief Executive Officer Philip Smith resigned Nov. 28, saying he was made a "fall guy" amid an investigation into the insurer's accounting practices. The company ...