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8
09, 2015
Mitsui Sumitomo to Buy Amlin for $5.3B, Latest in Japanese Overseas Deals
MS&AD Insurance Group Holdings Inc. agreed to buy Lloyd’s of London insurer Amlin plc for about 3.47 billion pounds ($5.3 billion), joining an overseas deal spree by Japanese peers. Amlin shares surged. The Tokyo-based company’s Mitsui Sumitomo Insurance Co. unit will pay 670 …
The article Mitsui Sumitomo to Buy Amlin for $5.3B, Latest in Japanese Overseas Deals appeared first on Insurance Journal.
27
08, 2015
Target Avoids SEC Penalties Over 2013 Breach
The U.S. Securities and Exchange Commission won’t pursue an enforcement action against Target Corp. after hackers stole data on 40 million credit and debit cards during the 2013 holiday shopping season, according to a regulatory filing. The agency finished its …
The article Target Avoids SEC Penalties Over 2013 Breach appeared first on Insurance Journal.
8
09, 2015
RSA to Sell Latin American Business to Suramericana
RSA Insurance Group, which received a takeover approach from Zurich Insurance Group AG, agreed to sell its Latin American operations to Suramericana SA for about 403 million pounds ($618 million) in cash. The sale will be “significantly” positive for RSA’s capital, the company …
The article RSA to Sell Latin American Business to Suramericana appeared first on Insurance Journal.
27
08, 2015
Oregon Man Awarded $5M for Abuse by Priest
A federal judge has awarded an Oregon man $5 million in damages stemming from sexual abuse by a Catholic priest in Yakima more than 30 years ago. The priest, Ernest Dale Calhoun, did not contest the allegations made by the …
The article Oregon Man Awarded $5M for Abuse by Priest appeared first on Insurance Journal.
4
09, 2015
Cost of Tianjin Explosions Could Reach $3.3 Billion: Guy Carpenter
The two massive explosions which hit China’s Port of Tianjin last month could generate insurance losses of up $3.3 billion, according to a report published by Guy Carpenter. The report estimates damages between $1.6 billion and $3.3 billion, which could …
The article Cost of Tianjin Explosions Could Reach $3.3 Billion: Guy Carpenter appeared first on Insurance Journal.
26
08, 2015
Two-Year Florida Insurance Fraud Investigation Leads to Multiple Arrests
The Florida Department of Financial Services’ Division of Insurance Fraud (DIF) has made multiple arrests related to a large-scale personal injury protection (PIP) fraud scheme spanning across Central Florida. Five individuals have been arrested for their alleged various roles in …
The article Two-Year Florida Insurance Fraud Investigation Leads to Multiple Arrests appeared first on Insurance Journal.
4
09, 2015
Surplus Lines Posts Record-Breaking Year for 2014
The surplus lines industry broke records in 2014, growing direct premium written (DPW) in 2014 to $40.2 billion — the highest point in history, reports A.M. Best’s “2014 Special Report U.S. Surplus Lines – Segment Review.” Surplus lines insurers grew …
The article Surplus Lines Posts Record-Breaking Year for 2014 appeared first on Insurance Journal.
26
08, 2015
Lockton Brazil Appoints Neto as Deputy CEO
U.S. based Lockton Companies, the independent insurance broker, has appointed Guilherme Perondi Neto as deputy CEO of its Brazilian subsidiary, Lockton Brazil, effective Sept. 1, 2015. With extensive experience in the insurance market through various multinationals companies such as Veritas …
The article Lockton Brazil Appoints Neto as Deputy CEO appeared first on Insurance Journal.
4
09, 2015
AIG to Freeze Employee Pensions, Switch to 401(k)s
American International Group Inc., the insurer seeking to cut costs under Chief Executive Officer Peter Hancock, said it will halt employees’ existing pension program in the U.S. and instead focus on 401(k) accounts. Pensions will freeze on Jan. 1, 2016, …
The article AIG to Freeze Employee Pensions, Switch to 401(k)s appeared first on Insurance Journal.
27
08, 2015
10 Automakers Sued Over Claims of Deadly Fumes from Keyless Ignitions
Ten of the world’s biggest carmakers were sued over claims that keyless ignitions lacking an automatic shut-off endanger drivers and passengers with deadly carbon monoxide fumes. Manufacturers including Toyota Motor Corp., Ford Motor Co. and Honda Motor Co. have long …
The article 10 Automakers Sued Over Claims of Deadly Fumes from Keyless Ignitions appeared first on Insurance Journal.