International News

Fairfax Financial CEO Watsa Probed for Insider Trading – Company Says

Fairfax Financial Holdings Ltd said Quebec’s securities regulator was investigating the company, Chief Executive Officer Prem Watsa and President Paul Rivett for possible illegal insider trading or tipping. Fairfax disclosed the information late on Thursday in its second-quarter financial statement. …

Arch Capital Posts $202.5 Million Q2 Net Income; $160.7 Million Operating

Arch Capital Group Ltd. reported that net income available to Arch common shareholders for the 2014 second quarter was $202.5 million, or $1.48 per share, compared to $171.5 million, or $1.26 per share, for the 2013 second quarter. The Company …

Allied World Europe Expands Professional Liability Team

Allied World Assurance Company Holdings, AG announced that Allied World Europe has expanded its professional liability team with the addition of two new vice presidents, Alec Goodair as Vice President, European Financial Institutions and Nicholas Lee as Vice President, European …

Minova Insurance Launches BMS Capital Advisory

UK-based Minova Insurance Holdings announced the launch of BMS Capital Advisory, a broker-dealer registered with the SEC and a member of both the UK’s Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC). BMS Capital Advisory is an …

India Landslide May Leave No Survivors as Death Toll Rises to 61

The death toll from a landslide triggered by torrential rains this week in India’s western Maharashtra state rose to 61 with 110 missing people feared dead, a government official said. Among the dead were 10 children, Ganesh Patil, additional district …

Direct Line in Talks to Sell Italy, Germany Units; Shares Surge

Direct Line Insurance Group Plc, the U.K.’s biggest home and motor insurer, said it was in talks to sell its units in Germany and Italy. The shares climbed the most since its initial public offering in October 2012. The discussions …

AXA First-Half Profit Rose 22%, Led by Life & Savings Unit

AXA SA, France’s largest insurer, said first-half profit rose 22 percent, buoyed by improved earnings from selling life insurance and savings products. Net income rose to €3 billion ($4 billion) from €2.47 billion [$3.3 billion] in the previous year, the …

Allianz Poised to Reappoint Diekmann as CEO, but Considering Successors

Allianz is poised to reappoint Michael Diekmann as chief executive in October, investors believe, possibly delaying tough choices on whether Europe’s largest insurer expands its global presence or returns more cash to shareholders. The German group has grown to become …

Endurance Terminates Offer to Acquire Aspen

Bermuda-based Endurance Specialty Holdings Ltd. announced that it has terminated its offer to acquire Aspen Insurance Holdings Limited; adding that “in connection with the termination of its acquisition offer, Endurance will not be pursuing its board size increase and scheme …

Generali Expects to Reach Targets Earlier as Operating Net Rises

Assicurazioni Generali SpA expects to reach 2015 targets ahead of schedule and improve its dividend policy, as first-half operating profit of Italy’s biggest insurer rose to the highest in 10 years. “Our results show that we are quickly moving toward …

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