July 26, 2016
This year could be a tough one for U.S. property/casualty insurers as catastrophe losses, private passenger insurance woes and declining bond yields erode underwriting results and profitability, according to a report by S&P Global Market Intelligence. The firm’s 2016 U.S. …
July 26, 2016
National Interstate Corp., the provider of insurance to the transportation industry, accepted majority-owner American Financial Group Inc.’s sweetened bid of $32 a share to buy the stock that it doesn’t already own. The offer values National Interstate at about $660 …
July 26, 2016
Bermuda’s Everest Re Group is selling its U.S. crop insurance company, Heartland Crop Insurance Inc., to CGB Diversified Services Inc., a crop insurance, transportation and storage firm in Illinois. Upon completion of the sale, Everest Re will provide quota share …
July 26, 2016
(Editor’s Note: The original version of this article published yesterday, July 26, omitted “International” from the headline “Catalina to Buy Hartford Financial Products International & Downlands Liability Management.” Insurance Journal regrets the omission.) Catalina Holdings (Bermuda) Ltd. announced its wholly …
July 26, 2016
A federal judge on Monday banned Uber Technologies Inc. and its Chief Executive Travis Kalanick from using information from a background check on a passenger bringing a price-fixing lawsuit, saying the investigative firm conducting the probe may have engaged in …
July 26, 2016
The U.S. financial system faces greater potential instability due to Britain’s decision to leave the European Union while low and negative interest rates also raise risks, a U.S. government monitor said on Monday. In its biannual update on U.S. stability, …
July 26, 2016
Bermuda-based Everest Re Group Ltd. reported second quarter 2016 net income of $155.7 million, or $3.67 per diluted common share, compared to net income of $209.1 million, or $4.68 per diluted common share, for the same period in 2015. After-tax …
July 26, 2016
“Legally obligated,” “legally responsible,” “legally must pay,” and “legally liable” are all insurance policy terminology referring to the same concept – legal liability. Legal liability is liability imposed by the courts through common law or by statute on any person …
July 26, 2016
Pen Underwriting announced that Adrian Scott has been appointed to the newly created role of head of Cyber Liability. Scott takes responsibility for enhancing Pen Underwriting’s capabilities in cyber risk management and insurance, building a dedicated team of sector specialists …
July 26, 2016
A Chinese container ship hit a wall of the new lane of the Panama Canal, a Canal Authority official and a local ship agent said on Monday, the third such incident since the expanded waterway opened one month ago amid …