Regulation & Compliance
Risk Management Office Privatization Saves Louisiana $16M
Louisiana has saved nearly $16 million in the first three years of a privatization contract for the Office of Risk Management, the state's self-insurance agency, according to an audit released ...
U.S. Bond Funds Sue Puerto Rico Over Bankruptcy Law Changes
U.S. mutual funds holding about $1.7 billion in Puerto Rico debt have sued the cash-strapped commonwealth, accusing the Caribbean island of passing an act modeled after the U.S. bankruptcy code in ...
Merger Questions and Answers: Ironshore Ends Deal; Tower Deal Survives
Property/casualty insurance industry merger news continued late last week with Ironshore announcing that its deal to acquire an Australia specialist fell apart, while Tower got an assurance that its ...
Moody’s Affirms Validus Ratings Despite Western World Challenges
On Wednesday, Moody's Investors Service affirmed its ratings for Validus Holdings, Ltd., including the A3 insurance financial strength rating of the principal operating subsidiary Validus ...
Deal Analysis: Why Validus Is Buying Western World
The combination of Validus Holdings and Western World Insurance Group fills in "missing pieces" for both organizations, Validus' chairman said Tuesday, detailing finer points of a $690 million deal ...
U.S. Insurance Regulators May Refuse to Apply Global Capital Rules: NAIC President-Elect Lindeen
The United States may refuse to apply new global capital rules in the world's biggest insurance market because of the "breakneck speed" they are being pushed through, American regulators said on ...
U.S. Treasury Secretary to Defend FSOC Work at Congressional Hearing
U.S. Treasury Secretary Jacob J. Lew pushed back against Republican efforts to curtail the work of a council of regulators charged with preventing another financial crisis and said a failure to ...
FSOC Faces Balancing Act on Transparency: Treasury Official
A U.S. Treasury official pushed back against criticism by some Republican lawmakers that the process for deciding whether financial companies pose a potential risk to stability lacks transparency. ...