RenaissanceRe Holdings Ltd. announced that Jeffrey D. Kelly, its chief financial officer and chief operating officer, is retiring. Kelly, 62, will be succeeded as CFO by Robert Qutub, effective Aug. 8, 2016, and will remain as chief operating officer until …
The Bermuda insurance industry is projected to grow at a steady pace as a result of new regulations and consistent growth in external business, such as offshore and captive, according to a new report published by London-based business intelligence company …
New Jersey is offering almost $200 million in incentives over 10 years to insurance, technology and financial companies to operate across the Hudson River from Manhattan. One applicant, Ernst & Young U.S. LLP, would score $40 million over 10 years …
Insurers could soon be able to deploy drones for speedier response to natural disasters under a provision in legislation reauthorizing the Federal Aviation Administration passed by the Senate Wednesday. “The process called for in this legislation represents a vital step …
A decade ago, Bear Stearns Cos. agreed to pay $250 million to resolve regulators’ claims that it was at the center of a system that allowed clients to break mutual-fund trading rules. JPMorgan Chase & Co., which acquired the company …
Editor’s note: This is the first of a two-part column. A follow up column will focus on how catastrophe modelers are being asked to create products that take into account potential climate change impacts. A report out this week from …
Central bankers globally need to realize the risks that extreme monetary policies will backfire, according to Voya Financial Inc.’s Karyn Cavanaugh. “Negative rates are turning out to be a dirt sandwich, especially for Japan,” Cavanaugh, who works as senior market …
XL Group Plc, the insurer that expanded last year with the purchase of Catlin Group Ltd., said second-quarter catastrophe costs were probably about $240 million pretax, with wildfires in Alberta, Canada, responsible for about half the total. Flooding in Europe …
Fitch Ratings this week warned that users of insurance ratings from four large credit rating agencies (CRAs) fail to understand differences in the rating scales – differences that separate A.M. Best from the rest of that pack. Specifically, Fitch said …
The owner of Lightning RV Supply company says he can’t believe the irony after his southwest Florida warehouse was destroyed by lightning. Brad Green says his employees heard three earth-shaking booms during a storm on the night of July 11. …
