Mohamed El-Erian, chief economic adviser at Allianz SE, said Tuesday that Ukraine and Greece are major market risks, but that the biggest risk is the “illusion of liquidity.” “The biggest risk is this illusion of liquidity,” El-Erian told cable television …
In a recent report Standard & Poor’s Ratings Services said it anticipated further mergers and acquisitions in the global reinsurance industry. The report – “Reinsurers’ Shopping Spree Won’t Slow Down Falling Rates” – cited the following facts to bolster its …
The recent unveiling by the European Central Bank (ECB) of its large-scale sovereign bond buying program is just one of the pressure points building in Europe that could affect insurers and reinsurers’ balance sheets, said A.M. Best in a new …
ING Groep NV, the biggest Dutch financial services company, is cutting its stake in NN Group NV by selling shares worth about 1.06 billion euros ($1.21 billion). ING is offering about 43 million shares in NN Group in a sale …
Insurance Australia Group Ltd. shares slumped the most in six years after the company’s first-half profit declined and missed expectations. The insurer fell 7.5 percent to A$5.91 as of 1:00 p.m. in Sydney, the biggest drop since February 2009. The …
Florida law enforcement officials say hit and run crashes are increasing at an alarming rate. That’s why they’re launching a new campaign to let drivers know that leaving the scene of an accident can result in tougher penalties. Florida had …
The Mississippi Supreme Court has reversed a lower court ruling that granted immunity to the city of Starkville over maintenance of its sewage system. Taghi “Ted” Boroujerdi filed the $500,000 lawsuit when he fell at his home after sewage backed …
CNA Financial Corp. has named Andrea Coleman vice president of the Orange County and San Diego branches in California. Coleman will be responsible for leading the branch teams to achieve their goals for continued growth and profitability through producer relationships. …
Pacific Specialty Insurance Co. has named David Biewer as chief financial officer and Jim Lee as chief information officer. Biewer spent the past 14 years at Esurance, the last nine years as chief actuary and vice president of actuarial. Lee …
Arthur J. Gallagher & Co. has acquired Cohn Financial Group LLC located in Phoenix, Ariz. Terms of the deal were not disclosed. Michael Cohn and his associates will continue to operate in their current location under the direction of Norbert …
