Private equity firm Carlyle Group LP said on Monday it had raised $1 billion for its second fund focused on buying and selling financial institutions such as wealth managers and insurance firms, almost three years after it began fundraising. While …
MS&AD Insurance Group Holdings Inc., Japan’s largest non-life insurer, will seek acquisitions in Southeast Asia to expand its overseas business, said President and Chief Executive Officer Yasuyoshi Karasawa. “Asia continues to be the most important area for us,” Karasawa, 63, …
The arsonist who killed Ji Yun Lee was especially cruel and calculating, dousing her small cabin in Pennsylvania’s Pocono Mountains with more than 60 gallons (230 liters) of gasoline and heating fuel and setting at least eight fires, ending at …
U.S. Treasury Secretary Jacob J. Lew pushed back against Republican efforts to curtail the work of a council of regulators charged with preventing another financial crisis and said a failure to examine potential risks could lead to “large-scale problems.” “If …
Validus Holdings said it has agreed to acquire specialty insurer Western World Insurance Group for $690 million in a deal that leaves the management team and brand of the specialty insurer intact. Under the deal terms, Western World’s owners will …
A magnitude 8.0 earthquake triggered a tsunami warning for Alaska on Monday, according to a National Weather Service alert. The quake was located in the Rat Islands, which are part of the Aleutian Island chain. NWS said the deep quake, …
The International Insurance Society (IIS) has come a long way since its first meeting in a conference room in Austin, Texas. The 50th edition of its annual conclave opened this morning in London at the Park Plaza Westminster Bridge Hotel …
A report by federal transportation safety investigators says a truck driver was speeding before he slammed into a limousine van, killing one man and seriously injuring comedian Tracy Morgan and two other passengers, and it has raised new questions about …
A Connecticut task force charged with reviewing behavioral health services for young adults has recommended more study on whether the state should authorize involuntary treatment in the community for people with mental illness. Created by the General Assembly following the …
Business Risk Partners, a Windsor, Conn.-based managing general underwriter, has appointed Erinn Coletti as professional liability underwriter. Previously, Coletti served as a specialty underwriter at The Hanover Insurance Group, where she helped establish its MPL division, creating and maintaining underwriting …
