The Indian government raised about 98 billion rupees ($1.5 billion) on Friday by selling some of its shares in General Insurance Corp of India (GIC Re), the nation’s top reinsurer, in the country’s biggest listing in seven years. [Editor’s note: …
The cheating crisis engulfing Kobe Steel Ltd just got bigger. Chief Executive Hiroya Kawasaki on Friday revealed that about 500 companies had received its falsely certified products, more than double its earlier count, confirming widespread wrongdoing at the steelmaker that …
S&P Global Ratings has revised its outlook on the Society of Lloyd’s to negative from stable, while reaffirming the market’s ‘A+’ insurer financial strength and long-term counterparty credit ratings on Lloyd’s. With estimated net losses of £3.3 billion ($4.4 billion) …
French insurer AXA has been approached by a number of players interested in doing a deal with its asset management arm, but continues to regard the business as a strategic asset, the unit’s chief executive said in an email to …
A Japanese court on Tuesday [Oct. 10] ordered the government and the operator of the Fukushima nuclear plant to pay 500 million yen ($4.5 million) to thousands of area residents and evacuees who were demanding compensation for their livelihoods lost …
Warm lighting would enhance the wood floors’ natural glow, the developer promised, so when all the custom lightbulbs burnt out, Anahi Abadia and her husband grudgingly drove to Home Depot to replenish supplies for their chic new flat in southern …
XL Group Ltd. announced its preliminary estimate of net losses of approximately $1.48 billion from third quarter natural catastrophes. Included within that figure is $1.33 billion in losses relating to Hurricanes Harvey, Irma and Maria, the company said, noting that …
Everest Re Group Ltd. announced the addition of several new senior underwriters to the London team of Everest Reinsurance (Bermuda) Ltd. Luke Armitage joins Everest Re’s London office as senior underwriter for motor business. Previously, he spent 10 years with …
The World Economic Forum is bringing insurers, tech firms and governments together to find ways to tackle risks from new technology such as drones and driverless cars, it said on Thursday. Tech firms have moved fast to develop new products, …
Saudi Arabia’s central bank is preparing tougher rules for insurance companies as part of a drive to create a smaller number of stronger market players operating in the country, two people with direct knowledge of the matter told Reuters. A …
