A Montana attorney who helped win a $36.5 million jury verdict for a worker exposed to asbestos at the Libby Mine is asking a federal court to void a loss-portfolio deal that transferred liability for hundreds of similar claims from …
FRANKFURT/MUNICH — German reinsurance group Munich Re will no longer insure against events canceled due to pandemics, a board member said on Tuesday. The world’s largest resinsurer is making the change after it faced large losses this year in the …
FRANKFURT — Munich Re said on Thursday it expected to receive claims for canceled or postponed events because of the coronavirus crisis in excess of 1 billion euros ($1.08 billion) this year after it posted a 65% drop in first-quarter …
Noh Replaces Myhan as Farmers CFO Farmers Insurance announced the appointment of Thomas Noh as the new chief financial officer of the policyholder-owned Farmers Insurance Exchanges, which consists of Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange. Noh …
Ajit Jain, one of Warren Buffett’s top managers at Berkshire Hathaway Inc., has a message for the staff that he oversees at Gen Re: It’s time for their business to get much leaner and less bureaucratic. After taking charge of …
Acknowledging the announcement made by Catlin Group Limited, XL Group plc confirmed that it is engaged in preliminary discussions with Catlin regarding a potential transaction to acquire the company and form a combined entity. “Both XL and Catlin – respected, …
Natural catastrophes like floods and storms claimed more than 20,000 lives and caused around $125 billion in damage worldwide in 2013, well below the average of the last decade, reinsurer Munich Re said on Tuesday. The world’s largest reinsurer said …
Swiss Re AG, the second-largest reinsurer worldwide, said natural and man-made catastrophes in 2013 caused $130 billion in economic losses tied to floods, hailstorms and other events. Insured losses fell to $44 billion from $81 billion a year earlier, Swiss …
Hannover Re, the world’s third- largest reinsurer, said it expects higher rates for insurance and reinsurance in Germany following this year’s flooding and hailstorms, which led to the most costly claims in 30 years. “In view of the considerable losses …
Tough new U.S. sanctions against Iran are raising concern that the OPEC member’s insurers may not be able to pay Western claims in the event of an accident, but Iran’s main ship insurer said it is confident it would be …