Property-casualty insurer Tower Group Inc. in New York will acquire Chicago-based Specialty Underwriters' Alliance, Inc. for $107 million, it was announced today
Mergers and acquisitions activity is expected to pick up in 2009 as financial institutions look for ways to divest their non-core insurance businesses in order to fund potential capital shortfalls, a consulting firm report says.
The Florida Office of Insurance Regulation has signed a Memorandum of Understanding with Germany's integrated financial regulator, the Bundesanstalt f?r Finanzdienstleistungsaufsicht (BaFin).
Government supports for terrorism risk insurance are growing globally, although some countries provide no backing, according to a study by reinsurance brokerage Guy Carpenter Inc.
American International Group squared off in federal court last week with its former top executive, Maurice Greenberg, in a battle over ownership of a block of AIG stock shares originally intended to serve as incentive compensation for employees.
Looking over documents that established Starr International Company, Maurice R. Greenberg testified they contained nothing to show that SICO was created to benefit American International Group.
Expanding the insurance industry's workforce diversity, including recruiting and developing more female executives, is not only good politics and good corporate citizenship, but good business, one award-winning woman suggests.
Both supporters and opponents of a new federal oversight system for the insurance sector all found something to like in the Obama administration's white paper proposing sweeping reforms of financial services regulation.