Meadowbrook Insurance Group Inc., the insurer that had its rating cut this month by A.M. Best, said it received a waiver from lenders after violating two financial covenants. The waiver is effective until Sept. 20 and allows the company to …
White Mountains Insurance Group Ltd. offered to pay 1.1 billion shekels ($308 million) for IDB Development Corp.’s 55 percent interest in Clal Insurance Enterprises Holdings Ltd. The offer will expire unless accepted by 5 p.m. today in Tel Aviv, White …
KKR & Co., the buyout firm run by Henry Kravis and George Roberts, hired former insurance executive Joseph Plumeri as a senior adviser to help find new deals and to work with portfolio companies. Plumeri, ex-chief executive officer of Willis …
Investors in Third Point Reinsurance Ltd.’s initial public offering are betting on billionaire hedge fund manager Daniel Loeb. They’re also taking on risk from an unprofitable underwriting operation. The sale could raise as much as $322.2 million and price today, …
Progressive Corp., the fourth-largest U.S. auto insurer, is searching for the right message to attract customers to a product that tracks a person’s driving to set rates, Chief Executive Officer Glenn Renwick said. Surveys of prospective Snapshot users have shown …
Allstate Corp., the largest publicly traded U.S. auto and home insurer, said second-quarter profit climbed on investment gains and reduced costs tied to natural disasters. Net income climbed 2.6 percent to $434 million, or 92 cents a share, from $423 …
Clive Cowdery, who earned a fortune cutting deals that consolidated the U.K. life insurance industry, is making a foray into the U.S. by buying a business from Allstate Corp. for $600 million (394 million pounds). Resolution Life Holdings Inc., a …
Allstate Corp., the largest publicly traded U.S. home and auto insurer, said it’s cutting some retirement benefits for employees in a move that will increase book value by a range of $1.70 to $2 a share. The adjustments include a …
Allstate Corp., the largest publicly traded U.S. home and auto insurer, said second-quarter earnings will be cut by about $320 million on costs tied to extinguishing debt. Allstate paid about $2.3 billion to retire bonds with a principal amount of …
Stephen Markscheid holds one of the riskiest jobs in the world — or so say directors and officers liability insurers. The 59-year-old former banker, a Mandarin-speaking American, sits on the boards of five U.S.-listed Chinese companies, including Jinko Solar Holding …
