Latest Prudential Headlines
All the headlines from our Prudential Topic Page, ordered by recency.
Foreign Insurers Benefit as China Tightens Rules on Local Firms
Mar 21 2018 // When Zhang Xixi, a 25-year-old staffer at an online financial company in China’s southern province of Guangdong, decided last year to buy personal insurance for the first time, he was swamped with options. Local...
Peak Re to Get Capital Boost After Prudential Financial Buys 13.1% Stake: A.M. Best
Feb 15 2018 // A wholly owned subsidiary of Prudential Financial Inc. (PFI) has signed definitive agreements to purchase a 13.1 percent stake in Peak Reinsurance Holdings Ltd., the sole shareholder of Hong Kong-based Peak Reinsurance Co....
QBE Australia & New Zealand Names Prudential Plc’s Baxter as CRO
May 2 2017 // QBE Australia and New Zealand announced that Mark Baxter has been appointed to the position of chief risk officer. Baxter has recently returned from the UK where he was Prudential’s chief risk officer for the UK and...
New Head of Allianz’ PIMCO Takes on $2 Trillion Challenge with Gusto
Jan 31 2017 // Walk down a side alley in Munich, beneath apartments with net curtains in the windows, past figures of female superheroes on a cafe storefront, and you come to the unprepossessing headquarters of a $2 trillion asset...
California Commissioner Orders Investigation into Charges against Wells Fargo
Dec 12 2016 // Update: This story has been updated with a response from Wells Fargo. Insurance Commissioner Dave Jones today directed the California Department of Insurance to launch an investigation into allegations made by former...
Federal Reserve Unveils New Proposed Capital Rules for Large Insurers
Jun 5 2016 // American International Group Inc. and Prudential Financial Inc.’s new capital rules should reflect the insurance business’s differences from Wall Street banking, the Federal Reserve said in a proposal to limit...
Hiscox Appoints Hussain as Group Chief Financial Officer
Apr 22 2016 // Hiscox Ltd. announced that Hamayou Akbar (“Aki”) Hussain will join the Hiscox Group as group chief financial officer. Hussain will join Hiscox from Prudential plc, where he spent seven years; latterly as chief...
Woods Named UK’s Head of Prudential Regulation, Overseeing Insurers & Banks
Apr 11 2016 // Sam Woods, a former U.K. Treasury official, was appointed as deputy governor for regulation at the Bank of England, replacing Andrew Bailey. Woods — who will continue as the central bank’s executive director of...
MetLife Victory Could Push AIG, Pru to Fight Systemic Risk Designations
Mar 31 2016 // After regulators slapped the too-big-to-fail label on MetLife Inc., Chief Executive Officer Steve Kandarian had several responses. One was to challenge government watchdogs in court — a move shunned by other insurers...
MetLife Spinoff Plan Could Add to Pressure on AIG to Split
Jan 13 2016 // After General Electric Co. began selling finance operations to exit too-big-to-fail status, American International Group Inc. Chief Executive Officer Peter Hancock said it wasn’t clear that escaping the government...
People – East
Dec 21 2015 // Markel Corp. in Richmond, Virginia, reported that Thomas S. Gayner, president and chief investment officer, and Richard R. Whitt III, president and co-chief operating officer, will serve as co-chief executive officers of...
Plymouth Rock Promotes Nisenson to Lead N.J. Prudential Agent Division
Dec 3 2015 // Larry Nisenson Plymouth Rock Assurance has promoted Larry Nisenson to president of the Plymouth Rock Prudential Agent Division. He is based in Red Bank, New Jersey. Plymouth Rock’s Prudential Agent Division supports...
People – Midwest
Nov 16 2015 // Safety National Casualty Corp. has realigned its claims department with management changes. Carl Reynolds, senior vice president – Claims, has retired after a 30-year career with Safety National where, as department...
CUNA Mutual Group Names Brown Chief Investment Officer
Oct 27 2015 // CUNA Mutual Group, headquartered in Madison, Wis., has hired David (Dave) G. Brown as its new chief investment officer. He will replace David Marks, who retires at the end of the year after 10 years at CUNA Mutual...
How Insurers Would Wind Down If Needed to Avoid Future Bailout
Jul 3 2014 // American International Group Inc. and Prudential Financial Inc. told regulators they could divest units and halt policy sales to avoid taking a bailout in a future crisis. AIG, the insurer that repaid a U.S. rescue in...
MetLife Unwavering in Battle Over Systemic Risk Rules
Jun 3 2014 // Steven Kandarian got MetLife Inc. out of banking to escape Federal Reserve oversight. Now, the insurer is fighting again to avoid the central bank’s reach. Kandarian, MetLife’s chief executive officer, has...
AIG, Prudential Financial on Federal Reserve’s List of 15 Firms for Extra Supervision
May 4 2014 // The Federal Reserve released a list of 15 firms that merit an extra layer of supervision because they pose heightened systemic risks, including JPMorgan Chase & Co. and Bank of America Corp. The tally published on the...
Prudential Fraud Claims Against Goldman Sachs Over Securities Dismissed
Jan 7 2014 // Prudential Financial Inc. agreed to dismiss its claims that Goldman Sachs Group Inc. engaged in fraud and racketeering in selling $375 million of residential mortgage-backed securities, a court order shows. U.S. District...
Deputy Treasurer Nominee Says Bank Regulations Not Right for Insurers
Nov 20 2013 // President Barack Obama’s nominee to serve as deputy U.S. Treasury Secretary told lawmakers on Wednesday she believes that large systemically important insurance companies should not face the same capital rules as...
European Insurers Welcome Deal on Solvency II Capital Rules
Nov 14 2013 // European insurers breathed a sigh of relief on Thursday that a deal on new capital requirements was less burdensome than initially feared, ending an uncertainty which has been hanging over the sector for many...
