Assets & Investments
Investment Gains Float Weight of $5.6B Underwriting Loss for U.S. P/C Insurers in Nine Months 2021
An increase in capital gains on investments is largely credited with lifting the after-tax net income of private U.S. property/casualty insurers to $42.1 billion over nine months in 2021 compared to ...Root Insurance Gets $300M Loan From BlackRock
Days after it announced it had to lay off 330 employees due to worsening loss costs, auto insurer Root Insurance has finalized a $300 million term loan from BlackRock Financial Management. The ...
Activist Investment Firm Targets Safety Insurance; Wants Share Buyback, Directors
Activist investment firm Ides Capital Management has nominated two directors to the board of Safety Insurance Group and wants the company to buy back shares, cut costs and improve financial ...
Judge Asks Who’s to Blame If Employee ‘Goes Rogue’
As the five-week trial of a Credit Suisse Group AG life insurance unit began to wind down last Thursday afternoon, the presiding judge cut to the chase. Lawyers for Credit Suisse Life (Bermuda) Ltd. ...
Financial Council Warns Climate Change, Stablecoins Are Systemic Risks
Climate change, the rapid growth of "stablecoins" and financial innovations that led to frenzied trading of GameStop Corp shares early this year are threats to the U.S. financial system that merit ...
China Starts Letting Insurers Lend Securities, Possibly Boosting Short Selling
China on Friday authorized its insurers to take part in securities lending, potentially boosting short-selling activities in the country's stock and bond markets. Chinese banks, brokerages and mutual ...
Buffett’s Berkshire Hathaway Pulls Back from U.S. Drugmaker Investments
Warren Buffett's Berkshire Hathaway Inc said on Monday it eliminated its investment in Merck & Co and reduced its stakes in AbbVie Inc and Bristol-Myers Squibb Co, as it pared its overall stock ...
Allianz Reportedly Explores Transferring Block of Swiss Life Insurance Assets as Probe Begins
Allianz SE is in advanced talks to transfer a block of Swiss life insurance assets to Resolution Life, people with knowledge of the matter said, a move that could free up regulatory capital as ...