American International Group, the insurer whose government bailout was marked by controversy over executive salaries, on Wednesday said its board adopted a clawback policy to recover compensation in case of mistakes or wrongdoing. In a regulatory filing, AIG said its …
Wal-Mart Stores Inc. is considering a radical plan to have store customers deliver packages to online buyers, a new twist on speedier delivery services that the company hopes will enable it to better compete with Amazon.com Inc. Tapping customers to …
Europe’s carefully maintained autobahns, high-speed TGV trains and vast network of modern airports have long been the envy of the world. But thanks to austerity budgets that are slashing infrastructure spending just as other parts of the world are ramping …
The key changes in federal health care reform remain months away but property/casualty actuaries are already trying to determine what impact they will have on their own lines of business, particularly workers’ compensation and medical malpractice. Elements of the Affordable …
A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of ‘B++’ (Good) and an issuer credit rating of “bbb” to Bahrain’s Takaful International Company BSC (TIC), both with stable outlooks. Best said the ratings of TIC …
Swiss Re announced that it has reached a settlement of a dispute with Berkshire Hathaway over a life retrocession agreement, concluded in 2010. The reinsurer said it “has agreed to take back some of the risks covered by the contract …
Lloyd’s announced an overall profit of $4.517 billion for 2012, making the $800 million loss in 2011, the costliest year on record for natural catastrophes, a fading memory. Controlled growth in 2012 saw gross written premium income reach a record …
Amounting to just $4.7 billion in aggregate deal value, the 46 merger and acquisition transactions announced in the property/casualty insurance sector in 2012 were near record low levels, according to the latest annual M&A study from Conning. In the last …
The U.S. Supreme Court on Wednesday ruled in favor of Comcast Corp. in an antitrust case over how much it charged cable TV subscribers, further curtailing the ability of people to pursue class action lawsuits. In a 5-4 decision, the …
Heffernan Benefits Advisory Services, a division of Heffernan Insurance Brokers, named Andrea Alarcon to the position of benefits compliance/legislative counsel, focusing on Employee Retirement Income Security Act law and health care reform implementation and compliance. Alarcon will be working out …
