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Small captive owners face specific rules to prevent IRS scrutiny

By: Donna Mahoney

Published February 03, 2016 - 10:38am CST

Increase in maximum premiums and diversification tests come about after agency links captives to tax shelters.

AIG: Splitting property and life business would hurt shareholders

By: Mark A. Hofmann

Published February 02, 2016 - 11:50am CST

Filing with SEC includes report showing how the loss of "diversification benefits" will hit return on investment.

Connecticut names captive insurance head

By: Joyce Famakinwa

Published January 29, 2016 - 3:02pm CST

The Connecticut Insurance Department has named Janet Grace to oversee its Captive Insurance Unit.

New insurance rules may spur some French consolidation

By: Thomson Reuters

Published January 28, 2016 - 9:32am CST

(Reuters) — The high cost of new insurance regulations is likely to spur consolidation among some of the smaller players in the sector in France, the country's insurance association said on Thursday.

Bank of England insurance supervisor says E.U. capital rules off to smooth start

By: Thomson Reuters

Published January 27, 2016 - 12:34pm CST

(Reuters) — The introduction of new European Union rules forcing insurers to hold enough capital to protect policyholders has gone well though some tweaks will be needed, Britain's top insurance regulator said on Wednesday.

New York governor nominates ex-staffer as top financial regulator

By: Thomson Reuters

Published January 21, 2016 - 1:50pm CST

(Reuters) — New York Gov. Andrew Cuomo has tapped Maria Vullo, a New York lawyer and former staffer, as the state's top financial regulator, his office said Thursday.

Risk retention groups divided by House bill's focus on nonprofits

By: Donna Mahoney

Published January 12, 2016 - 11:01am CST

Only certain risk retention groups would benefit from the proposed legislation, and that isn't sitting well with those who are left out.

Former Rep. Mike Oxley, instrumental in TRIA, dies at 71

By: Mark A. Hofmann

Published January 04, 2016 - 10:43am CST

On New Year's Day, former Rep. Mike Oxley, R-Ohio, co-author of the Sarbanes-Oxley Act and a key player in the creation of the federal government's terrorism insurance backstop, lost his battle with a type of lung cancer known for striking nonsmokers.

U.S. hopes to reach agreement with E.U. on equivalent standards for insurers, reinsurers

By: Mark A. Hofmann

Published January 03, 2016 - 12:01am CST

U.S. negotiators stand a reasonable chance of winning agreement with the European Union on so-called “covered agreements” that could lessen the burden on U.S. insurers and reinsurers doing business there, according to some observers.

Long-awaited Solvency II rules launch in E.U.

By: Sarah Veysey

Published January 03, 2016 - 12:01am CST

Most insurers across Europe will meet the long-awaited Solvency II risk-based capital requirements that come into force this month but it's still unclear whether the rules will change their long-term strategies.

Central bank says Dutch insurers ready for Solvency II

Published December 17, 2015 - 8:33am CST

(Reuters) — Insurers in the Netherlands are ready for new regulations covering their financial strength and are applying them rigorously, the country's central bank said Thursday, potentially putting the industry ahead of European competitors.

Munich Re eyes business boost from new E.U. capital rules

By: Thomson Reuters

Published November 30, 2015 - 9:43am CST

The E.U.'s impending Solvency II risk capital rules have many insurers in a state of frenzy, but German reinsurer Munich Re is not among them.

Icahn says may push for new AIG director, discloses stake

By: Thomson Reuters

Published November 23, 2015 - 12:06pm CST

(Reuters) — Activist investor Carl Icahn said he may propose adding a new director to American International Group Inc.'s board, since AIG Chief Executive Peter Hancock was unlikely to "sincerely consider" his suggestion to split the company into three.

Big insurers get key exemption in proposed British audit rules

By: Thomson Reuters

Published November 20, 2015 - 8:48am CST

(Reuters) — Britain's biggest insurers will be exempt from having their most important indicator of financial health externally audited under proposals issued by the Bank of England on Friday.

List of global systemically important insurers updated

By: Sarah Veysey

Published November 03, 2015 - 10:38am CST

The Financial Stability Board on Tuesday said it has added Aegon N.V. to its list of global systemically important insurers and removed Assicurazioni Generali.

Insurer ordered to defend real estate developer in title dispute

By: Judy Greenwald

Published November 02, 2015 - 2:49pm CST

Appeals court puts American Family Mutual Insurance on the hook in easement action in Colorado Springs intersection upgrade.

Bill would allow nonprofits to cover property in risk retention groups

By: Jerry Geisel

Published October 22, 2015 - 1:29pm CST

Nearly three decades after federal lawmakers passed legislation expanding coverages risk retention groups can provide to member-owners, a new effort is being launched to further expand RRGs.

FTC OKs Ace's acquisition of Chubb

By: Mark A. Hofmann

Published October 01, 2015 - 2:24pm CST

One down. Shareholder and regulatory hurdles remain before first-quarter closing.

Insurance bosses call for collective action on climate change

By: Thomson Reuters

Published October 01, 2015 - 8:20am CST

(Reuters) — Lloyd's of London and other insurers called for collective action to address climate change on Thursday after a report from the U.K. regulator this week highlighted risks to their industry from global warming.

Bank of England considers how to deal with failing insurers better

By: Thomson Reuters

Published September 18, 2015 - 9:30am CST

(Reuters) — The Bank of England is looking at whether better rules are needed to handle failed insurers so their policyholders don't face disruption.

Generali's solvency ratio rises after sale of banking unit

By: Thomson Reuters

Published September 15, 2015 - 11:15am CST

(Reuters) — Italian insurer Assicurazioni Generali S.p.A.'s solvency ratio rose to 200% after the sale of its Swiss private banking unit, BSI, the company said as it presses ahead with measures to bolster financial strength ahead of new industry rules.

Tough new capital rules put pressure on Europe's insurers

Published September 03, 2015 - 9:11am CST

(Reuters) — A drop in capital buffers reported by Dutch insurers has raised concern over how well prepared the broader European insurance industry is for revised rules on the amount of money they need to hold in case of market shocks.

Transfer of coverage allowed after corporate restructuring

By: Mark A. Hofmann

Published August 21, 2015 - 11:54am CST

Transferring insurance coverage in a merger or acquisition does not require insurer consent, the California Supreme Court has ruled.

Insurers push back on bank-centric rules, international regulations

By: Mark A. Hofmann

Published August 02, 2015 - 12:01am CST

Applying regulations meant for banks to insurers could have adverse effects on insurers and their customers, according to speakers at a Capitol Hill briefing on regulatory policy last week.

Premium tax in U.K. set to rise

By: Sarah Veysey

Published August 02, 2015 - 12:01am CST

Raising the tax on insurance premiums paid in the United Kingdom could result in rate increases by insurers and coverage reductions by buyers.

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