U.S.
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 ...
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 ...
Loeb’s Third Point Re Increases IPO Target to $345 Million
Third Point Reinsurance Ltd., which counts hedge-fund manager Daniel Loeb as a founding shareholder, increased to $345 million the amount it is targeting in an initial public offering. The figure, ...
Hartford Reports Third Straight Loss on Asbestos, Annuity Costs
Hartford Financial Services Group Inc., the insurer exiting life operations to focus on property/casualty coverage, posted a third straight loss on asbestos liabilities and costs tied to variable ...
Bernanke Should Testify in Greenberg Case Against Bailout: Judge
A U.S. judge said Federal Reserve Chairman Ben Bernanke should be required to testify in the lawsuit by the former chief of American International Group Inc., Maurice "Hank" Greenberg, against the ...AIG Closing Savings Bank Unit, Returning Customer Funds Amid Dodd-Frank Pressure
American International Group Inc. will return funds to customers of its banking unit and shut their accounts as the Dodd-Frank Act places limits on insurers with deposit-taking units. AIG Federal ...
U.S. Appeals Court Rejects States’ Challenge Over Climate Rules
A federal appeals court on Friday rejected a legal challenge by Texas and Wyoming to the U.S. Environmental Protection Agency's efforts to curb greenhouse gas emissions. A three-judge panel of the ...