A federal judge narrowed a $1 billion lawsuit against owners of the New York Mets baseball team by the trustee seeking money for Bernard Madoff’s victims, and cast skepticism on how much might ultimately be recovered. Tuesday’s ruling by U.S. …
Imperial Holdings’ shares plunged as much as 75 percent Wednesday, a day after federal investigators raided the offices of the company, which makes lump-sum payments to buy life insurance policies and structured legal settlements. The shares fell as low as …
A pipeline company is increasing its estimate of the cleanup cost of last year’s more than 800,000 gallon oil spill that contaminated southern Michigan’s Kalamazoo River. Enbridge said in a filing with the U.S. Securities and Exchange Commission that cleanup …
Aon Risk Solutions, the risk management business of Aon Corp., announced the appointment of Denis Waerseggers to the newly created position of European Power leader, effective December first. He joins Aon from global energy company GDF SUEZ, which Aon described …
A new report from A.M. Best notes that “intense competition and the effect of the weak economic climate on investment returns and loss experience continue to put pressure on U.K. non-life insurers’ financial performance. “Results for 2010 also provided further …
According to catastrophe modeling firm AIR Worldwide, “Typhoon Nesat (known locally as ‘Pedring’) made landfall in the eastern Isabela and Aurora provinces on the Pacific coast of the Philippines at 18:21 GMT Monday, September 26 with maximum sustained winds of …
Global health services company Cigna announced that it has agreed to acquire FirstAssist Insurance Services, a travel and protection insurance company based in the UK, from Barclays Private Equity. Cigna said the “acquisition will add a new product line to …
A fire at Royal Dutch Shell’s petroleum complex offshore Singapore is still burning, but has been contained, although it was not clear what impact the blaze was having on operations. “We confirm that a fire in the Pulau Bukom Manufacturing …
LG Electronics filed a suit in South Korea, seeking a ban on the sale of BMW and Audi cars, expanding its legal battle over lighting-product patents with Siemens unit Osram to automakers. The sales injunction request filed on Wednesday by …
Manila residents waded through waist-deep floodwaters, dodging branches and flying debris Tuesday as a powerful typhoon sent surging waves as tall as palm trees crashing over seawalls and submerging entire neighborhoods. At least seven people were killed, most of them …
