News
Willis Places Catlin $300M Cat Bond
Willis Capital Markets & Advisory the capital markets and advisory business of Willis Group Holdings, the global risk advisor, insurance and reinsurance broker, announced that it has structured ...
Hannover Re Quarterly Profit Falls as Investment Income Drops
Hannover Re, the world's third-biggest reinsurer, said third-quarter profit fell 23 percent on lower investment income, beating analysts' estimates. Net income fell to 205.5 million euros ($277 ...
For years, the insurance industry has been working to reduce the friction that slows down underwriting, claims, and servicing. Now,...
Force-Placed Insurance Curbed by Regulator of Fannie, Freddie
Servicers of mortgages backed by Fannie Mae and Freddie Mac can no longer place insurance on homes and then accept compensation from the insurers providing the policies, the U.S. Federal Housing ...
RSA Tumbles as Windstorms Push Profitability Below Target
RSA Insurance Group Plc tumbled after the U.K.'s biggest non-life insurer by market value said it will miss its profitability target in the wake of last week's European windstorms. Wind damage in ...
Material Asbestos Losses to Continue Unabated: AM Best
Industry losses from asbestos and environmental claims grew 12 percent in 2012, after a 31 percent decline in 2011, A.M. Best reported Monday. Although a special report by the Oldwick, N.J.-based ...
Morgan Stanley Says AIG May Sue Over Mortgage Investments
Morgan Stanley, the sixth-largest U.S. bank by assets, said it may be sued by American International Group Inc. over mortgage-backed securities that the insurer bought before the financial crisis. ...
Carl Icahn Says No Better Time to Be an Activist Investor
Carl Icahn's publicly traded investment vehicle, Icahn Enterprises L.P., reported strong third-quarter results on Monday and the billionaire said now is the best time ever to be an activist investor. ...
U.S. Supreme Court Weighs In on Wage-and-Hour Case over Paid Time for Donning & Doffing Gear
Steel workers who do their jobs wearing flame-retardant gear tried to convince the U.S. Supreme Court on Monday that they should be paid for the time they spend "donning and doffing" such items ...