Assets & Investments
Why Greed Isn’t Good
Imagine yourself betting on the long- term survival of two types of people. One is the classic egoist, focused and ruthless. The other is more selfless, willing to help fellow humans without any ...
Insurer Loses Lawsuit Over $560 Million in U.S. Taxes
John Hancock Life Insurance Co.'s claims for deductions for a series of leveraged lease transactions were denied by the U.S. Tax Court, a decision that could cost the company as much as $560 million. ...
Allstate’s Mortgage Securities Suit Against Goldman Sachs Discontinued
Allstate Corp.'s 2011 lawsuit against Goldman Sachs Group Inc. over the alleged fraudulent sale of residential mortgage-backed securities has been discontinued, court records show. The insurer sued ...
Third Point Reinsurance Plans to Raise Up to $322.2M in IPO
Third Point Reinsurance Ltd., which counts hedge-fund manager Daniel Loeb as a founding shareholder, said it plans to raise as much as $322.2 million in an initial public offering. The company, ...
Berkshire Beats Bond Rout, Other Insurers By Avoiding Bonds
Warren Buffett's preference for buying stocks and whole companies rather than bonds is helping Berkshire Hathaway Inc. weather a spike in interest rates better than other insurers. Book value rose 2 ...
Axa, Allianz Report Improved P/C Results; Axa CEO de Castries to Stay On
Axa SA, Europe's second-largest insurer, said first-half operating profit gained 14 percent, beating estimates on higher property/casualty earnings. Axa jumped as much as 3.9 percent to a three-year ...
Wall Street Brokers Support Removing Liability Shield for Stock Exchanges
The government should strip U.S. stock exchanges of the legal status that protects them from most lawsuits, a trade group for brokers said. In a letter to the Securities and Exchange Commission, the ...
Allstate Reports Disaster Costs Down, Investments Up for Q2
Allstate Corp., the largest publicly traded U.S. auto and home insurer, said second quarter profit climbed on investment gains and reduced costs tied to natural disasters. Net income climbed 2.6 ...