Billionaire hedge-fund manager Daniel Loeb’s Third Point Reinsurance Ltd., which has no staff in the U.S., said it can limit financial disclosure after a public offering because of rules promoting domestic job creation. Third Point Re is an “emerging growth …
Pfizer Inc. must pay about $1.8 million in punitive damages to a Connecticut woman who developed breast cancer after taking the company’s Prempro menopause drug, a judge ruled. U.S. District Judge Janet Bond Arterton’s Aug. 5 order brings to $5.76 …
Twenty-five Nuveen Investments Inc. funds sued American International Group Inc., claiming the company committed securities fraud in the months leading up to the U.S. financial crisis in 2008. Also named as defendants in a complaint filed yesterday in federal court …
BP Plc must pay $130 million to a court-appointed administrator overseeing payments to thousands of people who claimed they were hurt by the 2010 Gulf of Mexico oil spill, a federal judge ruled on Wednesday, in a fresh legal setback …
At the same time that it affirmed its ratings on the Catlin Group A.M. Best also affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” of Catlin Insurance Company, Inc.(CICI), which is based in Houston, …
Liberty Mutual Holding Co. Inc. posted $448 million net income for its 2013 second quarter, a 222 percent jump from $139 million net income posted during the same quarter last year. The company benefited from lower catastrophe losses and improved …
Swiss Re reported net income of $786 million for the second quarter of 2013, despite what the report described as a “period that saw high levels of natural catastrophes.” Net income in Q2, 2012 was $83 million. Swiss Re said …
According to the latest Global Catastrophe Recap report from Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, the “strong thunderstorms” that “brought record rainfall to the greater Toronto metropolitan region,” resulted in “Canada’s second billion-dollar natural …
AIR Worldwide reported that it has updated its Multiple Peril Crop Insurance (MPCI) Models for the United States and China. “These are weather-based models that estimate underwriting gains and losses based on crop yield probabilities in the context of current …
Kenya accepted some incoming international flights at Jomo Kenyatta International Airport after fire engulfed the arrivals terminals yesterday and shut operations at the busiest air-transportation hub in East Africa. Flights from Bangkok and London arrived this morning in the Kenyan …
