Morgan Stanley, the sixth-largest U.S. bank by assets, said it may be sued by American International Group Inc. over mortgage-backed securities that the insurer bought before the financial crisis. AIG purchased $3.7 billion in mortgage pass-through certificates that were sponsored …
Integro (Canada) Ltd. announced its acquisition of Winnipeg-based Multimedia Risk Inc., an insurance brokerage, which specializes in serving the national and international film and television production industry from offices in Canada and the United States. Financial considerations were not disclosed. …
Aon Risk Solutions, the global risk management business of Aon plc, and XL Group’s Bermuda Insurance Operations, XL Insurance (Bermuda) Ltd. (XLIB), announced a “new stand-alone integrated occurrence product called Catastrophic Integrated Occurrence or CAT IO.” The bulletin said the …
AXA ART Americas Corporation announced the appointment of Roberto Emilio Teixeira as Country Manager for its Brazilian activities. He “will be responsible for all aspects of AXA Art’s operations in Brazil including business development, risk assessment and underwriting,” said the …
Willis Capital Markets & Advisory (WCMA), the capital markets and advisory business of Willis Group Holdings, the global risk advisor, insurance and reinsurance broker, announced that it has structured and placed a $300 million catastrophe bond transaction sponsored by Catlin …
Netherlands-based ANV Holdings BV announced that Phil Mayes will lead its new Technology E&O and Intangible Risk Underwriting team. He will be responsible for “building and running the new division which will include recruiting additional underwriters and claims support for …
Zurich Insurance finance chief Pierre Wauthier did not come under “undue pressure” before his suicide, the firm said on Monday, citing results of an investigation into his death that it hopes will wrap up the scandal before earnings next week. …
The U.S. Supreme Court on Monday let stand Facebook Inc.’s $9.5 million class action settlement over allegations the social networking company’s defunct “Beacon” service violated its members’ privacy rights. Although the court declined to hear the case, Chief Justice John …
Travelers Cos., the property insurer in the Dow Jones Industrial Average, ended a contract with ExlService Holdings Inc. after the vendor’s employees violated confidentiality policies. The staff shared a “procedural document” externally, according to a regulatory filing today from New …
The National Insurance Industry Council raised more than $2 million this year in the ongoing battle to cure cancer and diabetes, it was announced Monday. A large portion of the funds were raised by the City of Hope’s Spirit of …
