Chubb Ltd., the insurer led by Chief Executive Officer Evan Greenberg, promoted Michael Kessler to chief reinsurance officer as William O’Farrell departs for other opportunities. Kessler will oversee the design and purchase of the reinsurance programs and report to Chief …
MetLife Inc., the New York-based insurer that traces its roots to the 1860s, said it’s come up with a new name for a U.S. retail unit that’s slated for separation. The business will be known as Brighthouse Financial once it’s …
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 …
New York state’s top financial regulator, Maria Vullo, agreed to adopt new industry-supported reserve requirements for life insurers, departing from a predecessor who derided the shift as ” unwise.” The move aligns the state watchdog with the National Association of …
Kinsale Capital Group Inc., the Richmond, Virginia-based insurer backed by Moelis & Co., filed for an initial public offering of stock. The company, founded in 2009, said it plans to list shares on the Nasdaq under the ticker KNSL, according …
General Re, the unit of Warren Buffett’s Berkshire Hathaway Inc. that appointed a new chief executive officer in May, struck a deal with a rival reinsurer to help revive sales. Alleghany Corp.’s TransRe will share revenue and risks on property/casualty …
Third Point Reinsurance Ltd. won lower fees on investments overseen by Dan Loeb’s Third Point LLC, the hedge fund manager that helped start the Bermuda-based reinsurer. Third Point Re will pay a 1.5 percent annualized fee in addition to as …
W.R. Berkley Corp., the Greenwich, Connecticut-based commercial insurer, named former Morgan Stanley investment banker Jared Abbey as senior vice president for corporate strategy and development. Abbey previously worked as a banker focusing on mergers and acquisitions, corporate restructurings and capital-raising …
Dan Loeb’s Third Point Reinsurance Ltd. said scrutiny of the industry’s offshore tax advantage has lessened after hedge fund manager John Paulson closed a venture that stood out as an ” outlier” for its aggressive use of strategies that were …
Warren Buffett’s annual charity lunch auction drew a winning bid of $3.46 million, matching the record. That final offer came from an anonymous donor, tying the record set by another bidder in 2012 who chose to remain unknown. A crowd …
