Legal
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Combined profits held level at $4.9bn across 2017/18 despite a five-point worsening in the mutuals’ aggregated combined ratio.
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The reinsurer is also suing Covea entities, the mutual’s CEO and Rothschild in France.
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The former executives allege the company terminated them to avoid paying $77mn in incentives. -
A Washington state regulator hit Illinois Union with a cease and desist order against underwriting the policies.
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It was shaping up to be a weapons-of-mass-destruction kind of inquiry.
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Intermediaries celebrate positive outcomes from a year-long regulatory review.
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Despite what the regulator says, pay-to-play does exist, as do conflicts of interest that are hard to manage.
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Eiopa’s long-awaited pronouncement on matters Brexit yesterday falls short of erasing all the question marks for the insurance industry.
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Baltic Re will provide coverage for Pool Re’s losses between £500mn and £700mn.
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The bankrupt Johnson & Johnson talc supplier disclosed it has $709mn in liability coverage remaining for talc.
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A 70 percent foreign shareholding ceiling was brought in in 2009 but never enforced.
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Proposed legislation is backed by the California Insurance Commissioner.
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