The twister that smashed through a small Alabama community this week, during an outbreak of tornadoes across the Deep South, killed a 39-year-old woman and her 8-year-old son on a street where generations of one family lived. One of dozens …
Will 2023 reinsurance renewals mark a turning point to a “true hard market” that attracts “new capital in droves” and expands supply? Analysts from AM Best raised the question in a new Best’s Market Segment Report published Wednesday, titled “Market …
The Swiss government proposed on Friday making it mandatory to report cyberattacks on critical infrastructure as a way to help shed light on hackers and sound the alarm more widely. It asked parliament to approve legislation that creates the legal …
Citigroup Inc. is negotiating the return of about $500 million it mistakenly paid a group of hedge funds and investment firms on a loan owed by Revlon Inc., the now-bankrupt cosmetics company controlled by billionaire Ronald Perelman. In a Thursday …
Regulators must step in to protect crypto investors after the collapse of FTX, financial industry executives and lawmakers said at the Reuters NEXT conference this week, the latest call for tougher oversight of a sector prone to meltdowns. Policymakers have …
A record bird flu outbreak in the UK has resulted in culling of almost half of the nation’s free-range turkeys for Christmas, according to the poultry industry group. About 600,000 free-range birds have been culled or died as a result …
KKR & Co.’s buyout of a French insurance broker is offering a window into the diminishing power of Wall Street’s vaunted leveraged finance machine. The buyout firm agreed to fund on its own the totality of the €2.3 billion ($2.4 …
The U.S. Department of Justice’s bankruptcy watchdog on Thursday called for an independent investigation into the collapse of crypto exchange FTX, saying customers need a neutral party to investigate allegations of “fraud, dishonesty, incompetence, misconduct, and mismanagement.” FTX has ousted …
Meta Platforms Inc. unlawfully steered dozens of hiring ads from trucking companies and other advertisers to mostly one gender or age group, an advocacy group for female truckers alleged in a U.S. complaint on Thursday, citing the social media giant’s …
Despite recent hurricanes in Florida, continued insurance claims litigation, and steadily rising reinsurance rates, insurers and reinsurers have reason to be optimistic about the next few years. Due to a variety of factors, including large loss events, the state is …
