Allstate Insurance Co. agreed to settle a 2011 lawsuit accusing Morgan Stanley of fraud over more than $100 million worth of mortgage-backed securities in which the insurer invested. The largest publicly traded U.S. home and auto insurer sued Morgan Stanley …
Deals often beget securities class actions. Yet, despite the active mergers-and-acquisitions market in 2014, the number of new federal securities class actions barely budged from the level in 2013. Last year, 170 securities cases were filed, four more than in …
PartnerRe Ltd. jumped in New York trading after “Insurance Insider” reported that the reinsurer, which agreed last month to merge with Axis Capital Holdings Ltd., might draw bids from rivals to break up the deal. Alleghany Corp. and France’s SCOR …
AXIS Capital Holdings Limited reported a net income available to common shareholders for the fourth quarter of 2014 of $164 million, or $1.60 per diluted common share, compared with net income of $172 million, or $1.52 per diluted common share, …
XL Group plc Chief Executive Officer Mike McGavick said employees who are worried about disruption from his company’s planned purchase of Catlin Group Ltd. should think twice about jumping ship. Other reinsurance deals, including last month’s agreement by AXIS Capital …
A TransAsia Airways Corp. turboprop plane crashed into a river near Taipei moments after taking off, killing at least 19 of the 58 people on board in the second fatal accident in less than a year for the Taiwanese airline. …
Fraud cases are on the rise and the profile of fraudsters is changing to include more young individuals seeking to fund extravagant lifestyles, according to ACE Group. As pressure on bank balances grows after the traditional Christmas excesses, ACE warns …
Allied World Assurance Company Holdings, AG announced that Allied World North America has launched primary general liability coverage for the Canadian market. The bulletin said the “new primary general liability team will provide capacity for a wide range of business …
CapSpecialty has launched CapSpecialty TechMediaCyber (CapTMC), a new professional liability errors & omissions product issued by Capitol Specialty Insurance Corp. that includes cyber protection and offers data privacy and network security coverage. CapTMC provides critical coverage for clients across the …
Philadelphia Insurance Companies, a Bala Cynwyd, Pennsylvania-based commercial property/casualty and professional liability insurance company for niche markets, promoted two vice presidents to senior vice presidents. Bob Morgan is now senior vice president of underwriting and Seth Hall assumes the position …
