News
How Most of the Insurance Industry Escaped the Worst of the Financial Crisis
At a time when efforts are underway to require additional supervision of some large insurers, a new government report concludes that the insurance industry's own practices and the policies of state ...
Transportation Insurer National Interstate Posts Surprise Q2 Loss
National Interstate Corp., the insurer majority owned by American Financial Group Inc., plunged the most since 2008 after reserves for claims in prior periods proved inadequate, fueling a surprise ...
TD Bank Faces Insurance Loss Due to Flood Claims
Toronto-Dominion Bank , Canada's second-largest lender, said it will take a third-quarter charge after tax of C$418 million ($406 million) due to recent severe weather in Alberta and Ontario and to ...
As New York City Comptroller, ‘Sheriff of Wall Street’ Spitzer Would Face Limits
Eliot Spitzer promises that if he gets elected New York City comptroller, he'll reimagine the office, using about $80 billion in pension stock holdings to keep corporations well-managed and socially ...
First Storm Surge-Only Bond Gets S&P Rating
Standard & Poor's Ratings Services announced Tuesday that it rated the first storm surge catastrophe bond—MetroCat Re Ltd.—a $200 million issuance sponsored by First Mutual Transportation ...Alleghany Combining Two Specialty Ops; Stephen Sills To Lead
Alleghany Corporation announced Tuesday that it plans to combine the operations of its subsidiaries Capitol Insurance Companies and Professional Risk Management Services, Inc. under the leadership of ...S.A.C. Re Under Review; Reputational Risk Among Challenges: A.M. Best
On Tuesday, A.M. Best Co. announced that the rating agency has placed the financial strength rating of "A-minus" (excellent) and issuer credit rating of "a-minus" of S.A.C. Re, Ltd. (SAC Re) under ...Zambian Reinsurer Prima Re Plans IPO
Prima Reinsurance Plc, a Zambian insurer, plans to raise about $4 million by the end of the year in the country's first initial public offering since 2008. The proceeds will go toward meeting higher ...