Allstate Corp., the largest U.S. publicly traded seller of auto and home insurance, said first-quarter profit rose 13 percent as margins improved at the property- liability business and catastrophe losses fell. Net income climbed to $677 million from $600 million, …
PartnerRe Ltd. is betting the value of a merger with AXIS Capital Holdings Ltd. is worth more in the long run than an extra few dollars a share now. Shareholders may not agree. The Bermuda-based reinsurer on Monday chose a …
American International Group Inc., the insurer that received a $182.3 billion bailout, said it would weigh reshaping the company to escape the U.S. government risk tag that brings greater regulatory oversight. “The discussion of the off-ramp certainly means that there …
Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., said he expects a slump in reinsurance results in the coming decade as investors enter the market. “It’s a business whose prospects have turned for the worse and there’s not much …
XL Group plc Chief Executive Officer Mike McGavick said the insurer is looking to illiquid securities and infrastructure investments to boost portfolio yields squeezed by interest rates that are near record lows. “We can get a little bit into the …
Fosun International Ltd., the investment arm of China’s biggest closely held conglomerate, is planning a $1.84 billion merger with Ironshore Inc. after buying the shares it doesn’t already own in the Bermuda-based insurer. Fosun’s unit Mettlesome Investment 2 will combine …
PartnerRe Ltd., the reinsurer that agreed to combine with AXIS Capital Holdings Ltd., said it would refuse to answer questions on its first-quarter earnings call about the unsolicited $6.4 billion buyout offer from EXOR SpA. PartnerRe’s board is evaluating the …
XL Group plc Chief Executive Officer Mike McGavick said that while he shuns casinos unless he’s with his mother-in-law, he’s felt lately like he was sitting at a “high stakes table” as he made insurance deals. McGavick announced a plan …
The earthquake that struck Nepal caused about $2 billion in economic losses in the country, and only a fraction of the cost will be incurred by insurers, according to Kinetic Analysis Corp. Damage in India could cost an additional $800 …
Hedge fund managers including billionaire John Paulson won’t immediately face new limits on their use of insurance in offshore tax havens, after the IRS proposed rules and chose not to make them effective now. The Internal Revenue Service rules, released …
