NMI Holdings Inc., the mortgage guarantor backed by Kyle Bass, Carlyle Group LP and BlueMountain Capital Management LLC, is seeking to be the first U.S. insurer since 2009 to file an initial public offering without posting a profit, as demand …
Prudential Financial Inc., the second-largest U.S. life insurer, abandoned its challenge to a U.S. designation from a Treasury Department panel that subjects the company to increased regulatory oversight. The insurer opted against filing a lawsuit seeking to overturn its status …
Tower Group International Ltd. is reviewing a “range of strategic options” after the insurer determined it had to add $365 million to reserves and taking a $215 million impairment of goodwill tied to its commercial, specialty and reinsurance segments. JPMorgan …
Homeowners’ insurance needs to be more standardized because customers are confused about what their policies protect, New York’s financial regulator said. Few fully understand all the complexities of their coverage, Benjamin Lawsky, superintendent of the state’s Department of Financial Services, …
MetLife Inc., the largest U.S. life insurer, is pushing agents to sell more car and residential coverage after the head of the company’s main retail business said they’ve been missing an opportunity to diversify sales. “Out of our 58 agencies, …
Federal regulators may miss important threats to the financial stability of U.S. insurers by focusing on bank risks, MetLife Inc. Chief Financial Officer John Hele said. “Bank rules overlook key insurance risks,” Hele said today at a conference in New …
State insurance regulators are drawing on the country’s founding principles as they resist international pressure to give the federal government a greater role in overseeing the industry. Ben Nelson, chief executive officer of the National Association of Insurance Commissioners and …
New York State’s financial-services regulator is pressing insurers including American International Group Inc., Lincoln National Corp. and Principal Financial Group Inc. to boost reserves at units in the state, a person familiar with the matter said. The group of insurers, …
New York State’s financial-services regulator said rules adopted by state watchdogs for some life insurance contracts failed to boost reserves to adequate levels in the industry. Of sixteen companies that are major sellers of universal life policies with secondary guarantees, …
American International Group Inc. has decided against signing new reinsurance contracts with Berkshire Hathaway Inc. after Warren Buffett’s company started a commercial insurer competing against AIG, according to a person with knowledge of the decision. AIG stopped entering into the …
