FRANKFURT, Oct 1- German insurer Allianz, still smarting from the sudden resignation of Bill Gross, founder of its Pimco asset management unit, is expected to break its own age rules by extending the contract of Chief Executive Michael Diekmann on Thursday.» Read More
Shares in British reinsurance broker Benfield jumped almost 13% on Friday after a report it had received a 700 million pound ($1.4 billion) bid approach from the private equity arm of Goldman Sachs.
Insurer Pearl is preparing to make an all-cash offer for rival Resolution as early as next week, the Financial Times reported on Thursday.
The Lloyd's of London insurance market's pretax profit for the first six months of the year jumped 34% thanks to high premiums and low catastrophe claims, it said on Thursday.
U.K. insurer Standard Life is considering a cash-and-shares bid for Resolution, it said on Wednesday, once again throwing into doubt Resolution's agreed nil-premium merger with rival Friends Provident.
Marsh & McLennan said Friday that Brian Storms, CEO of the insurance broker's main operating subsidiary Marsh Inc., had been ousted. His departure, effective immediately, follows a 21 percent decline in Marsh & McLennan's stock price since May because of its financial underperformance.
Recently I blogged about the hiring of a new CEO at ImClone Systems and the unique clause in his contract requiring him to buy half-a-million dollars worth of stock in the company. My suspicion was that ImClone Chairman and billionaire shareholder Carl Icahn had a hand in that.
So, I thought I'd be spending today monitoring the webcast of the FDA Advisory Committees that are meeting to decide whether doctors should use less of the anemia drugs from Amgen and Johnson & Johnson to treat kidney dialysis patients.
Swiss Re said it estimated claims for the industry from natural catastrophes in 2007 would amount to about $35 billion, well above a benign 2006 with $12 billion in natural catastrophe claims.
Reinsurers are under rising pressure from their clients to cut premium prices, but levels are still adequate, Munich Re said on Sunday.
Private equity firm Advent International said it had agreed to buy Britain's Domestic & General in a deal that values the domestic appliances insurer at around 523.9 million pounds ($1.06 billion).
The gloves are off. Overnight, Pfizer came out with a new study on the world's top-selling drug, Lipitor, for cholesterol. The company says if you switch from its drug to generic Zocor you've got a 30% greater chance of dying from a heart attack, stroke or some other "major cardiovascular" event.
Mortgage insurer MGIC Investment and bond insurer Radian Group agreed to terminate their pending merger, the companies said Wednesday, citing market conditions.
Swiss Life's first-half net profit rose 21%, comfortably beating expectations, and the insurer said on Tuesday it would set new financial goals in December.
British insurer Standard Life beat forecasts on Tuesday with a 71%t rise in first-half operating profit, boosted by growth in its key domestic market and increased sales of highermargin products.
Norwegian financial group Storebrand on Monday announced a deal to buy Sweden's Handelsbanken's insurance and pensions subsidiary SSP for 18 billion Swedish kronor (1.9 billion euros; $2.65 billion), creating the Nordic region's leading life insurance and pensions provider.
The state of Ohio has filed an anti-trust lawsuit accusing Marsh & McLennan, AIG and three other insurers and their subsidiaries of price fixing and other anti-competitive behavior, Attorney General Marc Dann said on Monday.
Shares of Neurochem today are trading at a new low after the Canadian biotech announced its developmental drug for Alzheimer's didn't work well enough. It is the latest evidence that cracking the code of this complex disease is extremely challenging. We recently did a story on the drug called Alzhemed, the potential AD-drug market and other companies working on treatments/cures at a dementia conference in Washington, DC.
Two years after hurricanes Katrina and Rita swamped New Orleans, the recovery efforts have created a tale of two cities … and it is doubtful that the full grandeur of the old Crescent City will ever arise from either one of them.
Novo Nordisk, the world's biggest diabetes drug company, is very lightly traded on the New York Stock Exchange, but check out the move in the stock today. Coincidentally, on the day that The New York Times runs a front-page story (with two jump pages) on how controlling diabetes is about lowering blood sugar and cholesterol levels, the Danish drugmaker is out with major data on its glucose fighting drug Liraglutide.
QBE Insurance Group, Australia's top insurer by premium income, reported a higher-than-expected first-half profit on U.S. acquisitions, and upgraded its insurance profit forecast.
Get the best of CNBC in your inbox