Regulation & Compliance
New SEC Rule: Companies Must Report CEO-to-Worker Pay Ratio
The U.S. Securities and Exchange Commission approved a rule Wednesday requiring companies to reveal the pay gap between the chief executive officer and their typical worker, handing a new weapon to ...
A.M. Best Issues Ratings Downgrade For PartnerRe; S&P Goes ‘Negative’
PartnerRe's agreement to be acquired by Italian investment firm EXOR for $6.9 billion rather than merge with AXIS Capital Holdings drew a swift rebuke from A.M. Best, which downgraded its financial ...
Zurich Insurance Reportedly Raising Financing For Possible RSA Takeover Offer
Zurich Insurance Group AG is raising financing ahead of a possible takeover offer for RSA Insurance Group that could come as early as next week, according to people familiar with the matter. The ...
A.M. Best, Blaming Fosun Merger, Places Ironshore Under Review With Negative Implications
Plans for Ironshore Inc. to be fully absorbed by China's Fosun International Ltd. in a $1.84 billion merger have caught the eye of A.M. Best, which is placing the Bermuda-based insurer under review ...
$2.2B Sirius Sale Leaves S&P, A.M. Best and Fitch Both Wary & Cautious
Plans for White Mountains Insurance Group to sell Sirius International Insurance Group for $2.2 billion to a Chinese investment firm drew negative or cautious reactions from Standard & Poor's, ...
Loeb’s Third Point Re Faulted for ‘Unconscionable’ Tax Scheme by Teachers
Hedge fund manager Daniel Loeb was singled out for criticism by labor leaders who are urging the U.S. to limit investors' ability to lower tax obligations through offshore reinsurance ventures. "When ...
SCOR, Swiss Re and Munich Re Win Fitch Ratings Upgrades
Fitch issued ratings upgrades for SCOR, Swiss Re and Munich Re and affirmed the ranking of a fourth reinsurer: Hannover Re. Each reinsurer received scrutiny because of their scale, diversity, and ...
Allianz Exec Views Hedge Funds as Insurance Industry Asset
Chris Fischer Hirs, the head of Allianz SE's specialty insurance business, said he welcomes the growing participation of Wall Street in the insurance industry as an opportunity, not a threat. "Hedge ...