Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Global Insurance M&A in H1 Drops to Lowest Point in 2 Years: Clyde & Co.
Aug 10 2017 // The volume of completed mergers and acquisitions (M&A) in the global insurance industry continued dropping during the first six months of 2017 to 170 deals, compared to 186 deals reported for the second half of 2016,...
Takata Files for U.S. Bankruptcy to Halt Air Bag Lawsuits
Aug 10 2017 // Japanese auto supplier Takata Corp. filed for U.S. bankruptcy protection on Wednesday in an effort to pause lawsuits against the company over faulty air bag inflators – more than a month after its U.S. unit filed for...
New Hampshire Sues Purdue Pharma Over Opioid Marketing Practices
Aug 9 2017 // New Hampshire sued OxyContin maker Purdue Pharma LP on Tuesday, joining several state and local governments in accusing the drugmaker of engaging in deceptive marketing practices that have helped fuel a national opioid...
Asia Floods Bring Economic Damages of More Than $10B in July: Aon Report
Aug 9 2017 // The vast majority of global natural disasters during July were the result of severe flooding across the Asian region, bringing more than $10 billion in economic damages, according to a report published by Impact...
Shell Plans to Restart Europe’s Biggest Oil Refinery After Recent Fire
Aug 9 2017 // Royal Dutch Shell Plc will attempt on Friday to restart one of two crude units at Europe’s biggest oil refinery that were halted by a fire late last month, a person with knowledge of the matter said. European diesel...
Generali Agrees to Sell Panama Business to ASSA for US$172 Million
Aug 8 2017 // Generali has entered into an agreement to sell its Panama business to ASSA Compañía de Seguros S.A., for US$172 million, continuing its strategy to focus on core businesses. Under the transaction, which is subject to...
Fatalities Rising as Coal Mine Production Increases
Aug 8 2017 // Ray Hatfield Jr. was six months into his latest coal job when he was crushed to death in a Kentucky mine. Hatfield, a 23-year industry veteran, was cleaning a conveyor belt that shuttled coal to the surface of the...
Catastrophe Bond Market Breaks New Records in 2nd Quarter, 1st Half: Aon Study
Aug 7 2017 // Catastrophe bond issuance during the second quarter stood at US$6.38 billion across 20 transactions – a new record for quarterly issuance that surpassed the previous record of US$4.49 billion set in Q2 2014, according to...
Cyber Attacks Against Ships’ GPS Systems Prompts Return of Radio as Backup
Aug 7 2017 // The risk of cyber attacks targeting ships’ satellite navigation is pushing nations to delve back through history and develop back-up systems with roots in World War Two radio technology. Ships use GPS (Global...
Saudi Arabia Denies Link to 9/11 Attacks, Seeks Exit from $100B Lawsuit
Aug 7 2017 // Saudi Arabia on Tuesday asked to be dropped from a Sept. 11 lawsuit victims’ families filed, saying no evidence links it to the deadly terrorist act. Lawyers for Saudi Arabia made the request in papers filed in...
Business Moves
Aug 7 2017 // Markel, State National Markel Corp. will acquire Texas-based State National Companies Inc. for $919 million, a deal that the Virginia-based insurer and reinsurer said will help diversify its underwriting and revenue...
Surplus Lines Insurance Premium Up Nationwide
Aug 7 2017 // A mid-year compilation of excess and surplus (E&S) insurance premium amounts by the Surplus Lines Stamping Office of Texas (SLTX) shows a 6.6 percent increase in premium nationally compared with the same period last...
U.S. Building Owners Reviewing Structural Materials After London Grenfell Tower Blaze
Aug 7 2017 // U.S. building owners should review what materials their structures are built with following a deadly fire in London that showed how flames can quickly cover a high-rise, devouring it from the outside, fire experts said. An...
Court Rules for NBC in Defamation Suit by Oregon Sporting Goods Company
Aug 7 2017 // A federal appeals court has ruled that NBC News did not defame an Oregon sporting goods company by characterizing its exploding rifle targets as “bombs” in a report on the “Today” show. The 2nd U.S....
Wisconsin Brewer Files Suit Against 2 Large Brewing Companies
Aug 4 2017 // A Canadian company that owns a brewery in southern Wisconsin has filed a federal lawsuit alleging antitrust violations by two of the world’s largest brewing companies. Mountain Crest says in the suit filed this week...
Liberty Mutual Reports Q2 Results Including Ironshore Impact
Aug 4 2017 // Liberty Mutual Holding Co. Inc. reported net income $126 million for the three months ended June 30, 2017, an increase of $111 million over the same period in 2016 thanks to improved investment returns. The rise in net...
Captive Insurers Repeat Strong Financial Performance: A.M. Best
Aug 4 2017 // U.S. captive insurance companies rated by A.M. Best ended 2016 in strong form, with a 16 percent year-over-year increase on pretax operating income to $1.6 billion, which included more than $803 million in underwriting...
Report Calls out $361M of Euro Insurer Assets in Expanding Coal Concerns
Aug 3 2017 // A climate activist group is calling out a handful of European insurers for having significant holdings in fossil fuels despite pledges by the companies to be more climate friendly. A report released today alleges that...
Fracking-Related Water Problems Raise Issues in West Texas
Aug 3 2017 // A West Texas land baron and oilman is on the verge of pumping 5.4 million gallons of water a day from far under the desert mountains here and piping it 60 miles to the nation’s most bountiful oil field, the Permian...
MetLife ‘Too Big to Fail’ Case Remains on Hold Awaiting Trump Weigh-In
Aug 3 2017 // Any legal decision on whether the largest U.S. life insurer MetLife Inc. should be labeled “too big to fail” will probably come after the Trump administration defines its stance on the designation. A U.S....
