The embattled company behind West Virginia’s chemical spill has reached a bankruptcy court deal for up to $4 million in credit from a lender to help continue operations, an attorney said. The arrangement will allow the company to continue paying …
Ford Motor Co. said on Wednesday it is joining with two top U.S. universities to launch research into automated driving technology. The automaker said it will work with Stanford University and the Massachusetts Institute of Technology (MIT) on the “technical …
Regulators are starting to scrutinize Warren Buffett’s Berkshire Hathaway Inc. to determine whether it is important enough to the financial system to require Federal Reserve supervision, according to two people with knowledge of the matter. The U.S. Financial Stability Oversight …
London-based Litmus Analysis has commented on the announcement from S&P that for the first time since 2006 it expects a negative trend in reinsurer ratings in 2014. Of the 23 groups (including Lloyd’s) it defines as “global reinsurers” it notes …
Aon Benfield Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, announced the successful completion of the first European Windstorm indemnity catastrophe bond for a European insurance sponsor. The streamlined catastrophe bond, Windmill I Re …
Castel Underwriting Agencies Limited, a member of the Barbican Insurance Group, announced that Altitude Risk Partners has become the first underwriting cell to utilize its “club-style” MGA platform to create a dynamic aerospace underwriting business. “Launched in London with capacity …
Aviva plc, the U.K.’s second-biggest insurer by market value, said Chief Financial Officer Pat Regan resigned to take up a similar job at Australia’s QBE Insurance Group Ltd. Regan, who joined Aviva as CFO in February 2010 and sits on …
Insurance Australia Group Limited (IAG) announced an update to its guidance for the financial year ending 30 June 2014 (FY14) following a review of expected performance in the first half of the year. IAG said it “has revised its FY14 …
Assicurazioni Generali SpA, Europe’s third-largest insurer, will sell Swiss asset-management unit BSI Group as part of its disposal plan to boost capital. “We will sell BSI for sure, we have plenty of time because our strategy goes to 2015,” Chief …
Part I – The Market in the Developed Economies A significant number of reinsurance treaties were renewed this month, heavily concentrated in property catastrophe coverage. It’s become apparent, however, that this market, for a number of reasons, has seen changes …
