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From quills to qwerty: Lloyd’s underwriters adapt to home working

LONDON (Reuters) – Thousands of London’s underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won’t need them. Working at home due to the coronavirus lockdown, they have abandoned the normal tool... More »

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SEC proposes allowing more investors access to private companies

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Wednesday proposed changes to its decades-old definition of a professional investor in order to allow more Americans to buy shares in private companies. The agency hopes the changes will boo... More »

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Catastrophes set to drive 2020 reinsurance rates higher

LONDON (Reuters) – Big insurance losses from hurricanes, wildfires and other natural disasters over the past two years are set to push reinsurance renewal rates higher in January, ratings agencies said. After falling for several years due to competition and fe... More »

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Manulife profit beats on strength in Asia unit

(Reuters) – Canada’s largest insurer insurer Manulife Financial Corp on Wednesday edged past estimates for second-quarter profit, helped by strength in Asia unit, its biggest. Insurers in Canada have been increasingly pivoting toward Asia for growth, looking t... More »

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Berkshire’s Brooks Running unit adapts as the science of running…

OMAHA, Neb. (Reuters) – Preventing injuries from running shoes is a science for Jim Weber, the chief executive of Brooks Running, a unit of Warren Buffett’s Berkshire Hathaway Inc. “The worst nightmare is to get injured,” Weber said in an interview during Berk... More »

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Big claims strain senior living market for U.S. insurers

(Reuters) – Last March, a 103-year-old resident of a Sunrise Senior Living facility in Willowbrook, Illinois, went on a field trip to the movies. Ruth Smith, who used a walker, fell down two concrete steps in the theater and died about six weeks later. Now Smi... More »

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Insurer Chubb refuses to pay for Harvey Weinstein’s legal defense

FILE PHOTO: Film producer Harvey Weinstein attends the 2016 amfAR New York Gala at Cipriani Wall Street in Manhattan, New York, U.S., February 10, 2016. REUTERS/Andrew Kelly/File Photo (Reuters) – Insurer Chubb Ltd is refusing to pay for Harvey Weinstein’s leg... More »

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Travelers says it is in `right spot` for cyber insurance exposure

Travelers Cos Inc (TRV.N) plans to stick to its recent growth pace for sales of cyber insurance, which protects businesses against hacking and other liabilities, despite potential to boost it, as the insurer assesses risks in the segment, its head of specialty... More »

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Reuters surveys UK financial services jobs post-Brexit

Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe's single market, according to a Reuters survey of firms employing the bulk of workers in international finance. More »

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Anbang denies regulators told it to sell overseas assets

The headquarters building of Anbang Insurance Group are pictured in Beijing, China, August 25, 2016. Anbang Insurance Group, whose chairman was detained in June, on Tuesday denied a report that it had been told by regulators in China to sell its overseas asset... More »

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Pimco added U.S. Treasury securities this week: CIO Ivascyn

PIMCO’s Daniel Ivascyn in a file photo. Bond firm Pacific Investment Management Co added longer-term U.S. Treasury securities to its portfolio this week and also sold some investments tied to volatility against the backdrop of stable economic growth and a slow... More »

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London`s Grenfell Tower insurer ups claims estimate to $65 million

The burnt out remains of the Grenfell apartment tower are seen in North Kensington, London, Britain, June 29, 2017. REUTERS/Hannah McKay The insurer of London’s Grenfell Tower, where at least 80 people died in a devastating fire, raised its estimate for proper... More »

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AIG taps Marsh executive as new CEO`s deputy: report

American International Group Inc. (AIG) headquarters seen on the day of the company’s 2017 annual shareholder meeting at 175 Water Street, New York, U.S., June 28, 2017. REUTERS/Suzanne Barlyn American International Group Inc is expected to hire the head of Ma... More »

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U.S. court puts hold on `too big to fail` case involving MetLife

A MetLife Inc building is shown in Irvine, California, U.S., January 24, 2017. REUTERS/Mike Blake A U.S. appeals court on Friday granted a 60-day pause in the long-running case in which the country’s largest life insurer, MetLife Inc, has challenged the federa... More »

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AIG plans to name Brian Duperreault as new CEO: WSJ

People exit the AIG building in New York’s financial district March 19, 2015. REUTERS/Brendan McDermid American International Group (AIG.N) is planning to name Brian Duperreault as its new chief executive, the Wall Street Journal reported, citing sources. More »

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AIG board denies CEO 2016 cash bonus after dismal earnings

FILE PHOTO – AIG CEO Peter Hancock speaks during the White House summit on cybersecurity and consumer protection in Palo Alto, California on February 13, 2015. REUTERS/Robert Galbraith/File Photo American International Group Inc’s (AIG.N) board of directors de... More »

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California pension fund is latest to scrap some active managers

A California pension fund has fired Franklin Templeton Investments, JPMorgan Chase & Co and Pacific Investment Management Co from some portfolio-management responsibilities in a shakeup that puts more of its assets in lower-fee, index-tracking investments, the... More »

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Pimco regains title of managing biggest active bond fund

The offices of Pacific Investment Management Co (PIMCO) are shown in Newport Beach, California August 4, 2015. REUTERS/Mike Blake Pacific Investment Management Co regained its perch as the manager behind the world’s largest actively managed bond fund, data fro... More »

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Wells Fargo must face litigation on defective mortgages: U.S. judge

A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo A federal judge on Thursday said Wells Fargo & Co (WFC.N) must face litigation seeking to hold it responsible for billions of doll... More »

Share turnover by fund managers not helping business: expert

Fund managers who are usually seen as the market’s more patient investors are not holding shares long enough to encourage firms to adjust for a more environmentally sustainable future or deal with other long-term risks, an influential think-tank said. More »

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Pimco revamps BOND ETF, changing fund`s name and managers

A Pacific Investment Management Co (PIMCO) sign is shown in Newport Beach, California August 4, 2015. REUTERS/Mike Blake Pacific Investment Management Co (Pimco) is replacing the full slate of managers on its Total Return Active Exchange-Traded Fund (BOND.P) a... More »

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AIG sees uncertainty in `too-big-to-fail` label for insurers: filing

The AIG logo is seen at its building in New York’s financial district March 19, 2015. REUTERS/Brendan McDermid Insurance giant American International Group sees “considerable uncertainty” about U.S. regulations that deem non-bank financial institutions as bein... More »

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Lloyd`s of London calls time on employees` lunch-time pint

A doorman looks out as workers walk in the rain past the Lloyd’s of London building in the City of London, Britain, January 7, 2016. REUTERS/Toby Melville Lloyd’s of London [SOLYD.UL], home for much of the world’s insurance trade, has finally called “last orde... More »

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Pimco Total Return posts $3.2 billion outflows in December

The offices of Pacific Investment Management Co (PIMCO) (L) are shown in Newport Beach, California August 4, 2015. REUTERS/Mike Blake/Files Investors pulled $3.2 billion from the Pimco Total Return Fund, once the world’s largest bond fund, in December, bringin... More »

U.S. government, MetLife set for rematch over `too big to fail`

The MetLife building is seen in New York, March 8, 2010. REUTERS/Shannon Stapleton/File Photo The U.S. government and the country’s largest life insurer are set for a rematch in a U.S. appeals court on Monday over how federal regulators decide a company is “to... More »

Bill Gross wants Pimco, lawyers punished for `bad-faith` tactics

The offices of Pacific Investment Management Co (PIMCO) are shown in Newport Beach, California August 4, 2015. REUTERS/Mike Blake Bond fund manager Bill Gross on Friday said Pacific Investment Management Co and its lawyers should be punished for unfairly imped... More »

Q&A: Jim McCann uses flower power to benefit society

NEW YORK In a conservative suit and tie, Jim McCann does not look like a hippie. But the founder of 1-800-Flowers is using flower power to push a powerful social agenda. In June, McCann transitioned to the role of chairman of the company he founded 40 years ag... More »

Investors pull $1 billion from Pimco Total Return Fund in May

NEW YORK Investors pulled approximately $1 billion from the Pimco Total Return Fund, one of the world’s largest bond funds, in May following cash withdrawals of the same amount the previous month, the Newport Beach, California-based firm said on Thursday. Pimc... More »

Eaton Vance comes to market with new type of low-fee fund

NEW YORK A new type of investment fund starts trading on Wall Street on Friday amid hope from backers that it could become big enough to supplant traditional mutual funds. The Eaton Vance Stock NextShares is the first so-called actively managed nontransparent ... More »

Cyber insurance premiums rocket after high-profile attacks

BOSTON A rash of hacking attacks on U.S. companies over the past two years has prompted insurers to massively increase cyber premiums for some companies, leaving firms that are perceived to be a high risk scrambling for cover. On top of rate hikes, insurers ar... More »

Zurich ditches RSA takeover after losses in general insurance

ZURICH Zurich Insurance Group AG (ZURN.VX) abandoned its proposed 5.6 billion pound ($8.7 billion) bid for British insurer RSA Insurance Group PLC (RSA.L) on Monday after forecasting a $200 million loss in its general insurance business due to explosions at th... More »

Pimco Total Return Fund stabilizes while Pimco Income gains

NEW YORK Investors pulled $3 billion in assets from Pacific Investment Management Co’s flagship fund in June, compared with $2.7 billion the previous month, in another sign Pimco is stabilizing since last fall’s departure of star manager Bill Gross. The Pimco ... More »