Politicians must act to cap global warming when they meet at a United Nations summit at the end of the year as the financial and humanitarian consequences of natural catastrophes become ever clearer, reinsurers meeting at an industry conference said. …
American International Group Inc. plans to sit out the unprecedented wave of insurance industry deal-making and instead focus on integrating businesses in Japan. The timetable for merging AIU with Fuji Fire & Marine has been pushed back to 2016 or …
XL Group plc, the insurer that acquired Catlin Group Ltd., named Citigroup Inc. veteran Eugene McQuade as chairman as the company prepares for increased regulatory scrutiny. McQuade, a director since 2004, replaces Robert Glauber, who had been chairman since 2009 …
Following the completion of XL Group plc’s acquisition of Bermuda-based Catlin Group Limited on May 1, XL and Catlin have officially joined operations and launched a new brand, XL Catlin. A new global marketing campaign, reflecting the greater scale, ambition …
XL Group plc Chief Executive Officer Mike McGavick said the insurer is looking to illiquid securities and infrastructure investments to boost portfolio yields squeezed by interest rates that are near record lows. “We can get a little bit into the …
Dublin-based XL Group plc reported first quarter operating net income of $194.4 million, or $0.75 per share, for the first quarter on a fully diluted basis, down from $238.6 million, or $0.85 per share, for the same period in 2014. …
XL Group plc Chief Executive Officer Mike McGavick said that while he shuns casinos unless he’s with his mother-in-law, he’s felt lately like he was sitting at a “high stakes table” as he made insurance deals. McGavick announced a plan …
XL Group plc announced the creation of XL Innovate, an XL-sponsored venture capital initiative. The new fund will be led by Tom Hutton, a past director of XL who has a history of creating successful insurance and financial technology ventures, …
BlackRock Inc., the world’s largest money manager, and Evan Greenberg’s ACE Ltd. are forming a reinsurance venture that is seeking to raise $800 million to $1.3 billion. The business is named ABR Reinsurance Capital Holdings Ltd. and is based in …
XL Group plc, the insurer that agreed to buy Catlin Group Ltd. for about $4 billion, said it faces a risk label after the deal that could lead to increased oversight from global regulators. “Following the completion of the proposed …
