W.R. Berkley Corp.’s chairman and CEO slammed the surge of merger and acquisition activity hitting the property/casualty industry in recent months as something driven more by “management ego” than true business needs. “Consolidation that is happening now is frequently about …
When you are identified in a picture on Facebook, biometric software remembers your face so it can be “tagged” in other photographs. Facebook Inc. says this enhances the user experience. But privacy advocates say the company’s technology — which was …
PartnerRe Ltd, the reinsurance company that has a $6.6 billion merger agreement with AXIS Capital Holdings, has indicated that it is now willing to negotiate a new deal with rival suitor EXOR, SpA, according to people familiar with the matter. …
Lloyd’s has announced that it intends to apply for an onshore reinsurance license in Malaysia. The move has been confirmed by the UK and Malaysian governments. The announcement that Lloyd’s will apply for a “Tier 1 license”, and open an …
Shares in Swiss Re, Europe’s second-biggest reinsurer, fell the most since April in Zurich trading after second quarter earnings missed analysts’ estimates on lower profitability at its property and casualty unit. The shares declined 2.9 percent at 10 a.m., crimping …
Bermuda-based Ironshore International has named Rowan Bamford as its new Global Head of Mergers & Acquisitions and Tax, effective immediately. He will oversee the M&A business lines the company’s portfolio, as well as the Tax division, throughout Ironshore’s global platform …
Lancashire Holdings Ltd. Chief Executive Officer Alex Maloney dismissed suggestions the insurer would be better off combining with a larger competitor. “I don’t really buy the bigger is better thing,” Maloney said on a conference call with analysts Wednesday. “I …
Lancashire Holdings Ltd. reported a 10 percent fall in first-half profit amid “pricing pressure” in the Lloyd’s of London insurance market. The company said pretax profit decreased to $88.6 million in the six months through June, while gross written premiums …
Assicurazioni Generali SpA said second-quarter profit rose 51 percent, beating analysts’ estimates, after earnings from life insurance surged. The shares climbed in Milan. Net income at Italy’s biggest insurer increased to 626 million euros ($687 million) from 415 million euros …
Japan’s insurance companies are pushing for an average 19 percent increase in earthquake premiums as they reassess risk following the unprecedented magnitude 9 quake four years ago. The increase could come into effect in January 2017, according to the Ministry …
