The Bermuda-based Everest Re Group announced that it expects to incur net losses of between $100 million and $125 million, after reinstatement premiums and taxes, for claims arising from floods in Thailand. The bulletin said the range was “predicated on …
Tokio Marine said on Wednesday it will buy U.S. insurer Delphi Financial Group for $2.7 billion, the latest in a string of deals by Japan’s second-largest property-casualty insurer aimed at growing outside its mature home market. Tokio Marine said it …
Swiss Re describes 2011 as the “year with the highest catastrophe-related economic losses in history, at $350 billion.” It could have been the most costly year ever for the insurance industry, if Japan had been more fully insured. The figures …
An independent panel urged legal action against executives who covered up a $1.7 billion accounting scandal at Japan’s Olympus Corp, and said others who knew about it should be replaced. But its findings failed to satisfy the ex-CEO who blew …
An outing of luxury sportscar enthusiasts in Japan ended in an expensive freeway pileup -smashing a stunning eight Ferraris, a Lamborghini and two Mercedes – likely worth more than $1 million together. Police say they believe the accident Sunday was …
Billionaire investor Warren Buffett said Europe’s debt crisis had shown up a “major flaw” in the 17-member euro zone system and it would take more than words to fix it. “There is a major flaw in the euro system … …
A unit from the Tokyo Metropolitan Police Department’s organized crime division has joined an investigation into an accounting scam at Japan’s disgraced Olympus Corp, a source familiar with the matter said on Friday, in a sign that the scandal could …
Aki Tsurumaki says he never felt his life was in danger during the 15 years he has been helping companies escape entanglements with Japan’s “yakuza” crime syndicates. But the 42-year-old lawyer jokes that he does not take any chances, adding …
Japan’s Olympus admitted on Tuesday it had hidden losses on securities investments dating back to the 1980s, succumbing to weeks of pressure to explain a series of baffling transactions that have put the future of the firm in doubt. The …
Manufacturers of car parts and computer hard drives are the worst hit in Thailand, and face a bleak key holiday selling season due to massive floods, which have shut down production. Japanese car makers that had just started to recover …
