News
Enstar, Stone Point to Acquire Torus Insurance Holdings for $692M
Bermuda-based Enstar Group Ltd., a firm that typically acquires and manages insurance and reinsurance companies in run-off and portfolios of insurance and reinsurance business in run-off, has agreed ...
Insured Damage from European Floods Will Near $3.8B, Says Munich Re
Flooding in Europe last month will cause more than 12 billion euros ($15.5 billion) of damage, the year's most expensive natural catastrophe, according to Munich Re, the world's biggest reinsurer. ...O’Donohoe to Succeed Tobin as Group CEO for Torus
Dermot O'Donohoe has been appointed group CEO of the Torus Group, the specialty insurer said. O'Donohoe succeeds Clive Tobin, who is retiring and stepping down as an officer and director following ...
U.K. Regulator Reviewing Insurance Add-On Products
The U.K. markets regulator is reviewing whether there is enough competition in insurance add- on products, which are sold along with purchases such as vacations or a car. The market study is looking ...
Commercial Lines Prices Up by 5% Again in June: MarketScout
Increases for commercial property/casualty insurance rates in the United States were again about 5 percent during June, the fourth straight month at that pace. According to the latest composite index ...
Financial Industry Takes Cybersecurity Seriously: Judd Gregg
The financial industry has been under a constant state of attack for the past year as hackers attempt to steal clients' money, crash computer systems and disrupt capital markets. So far, the industry ...
S&P to Defend Credit Rating ‘Puffery’ in Case Over Fraud Charges
Standard & Poor's, getting its first shot in open court at U.S. Justice Department claims it should pay as much as $5 billion in civil penalties, will defend itself by arguing reasonable ...
Canada Train Explosion Spurs Debate Over Safety of Crude Oil Shipping
A train disaster that killed five people in Quebec promises to touch off debate over the safety of shipping crude oil by rail or pipelines such as TransCanada Corp.'s Keystone XL. As authorities ...