Reinsurance

The wildfires spreading around Canadas oil-sands hub of Fort McMurray may become the costliest catastrophe in the countrys history with losses potentially reaching $7.3 billion.

Evan Greenberg, who built one of the worlds largest insurers by combining Ace Ltd. and Chubb Corp. this year, sought to portray the merged company as a more stable alternative than hobbled rivals who are seeking to rebound.

Third Point said in a letter to shareholders last month that the quarter was one of the most catastrophic periods for hedge funds since the firm was founded.

News from Lockton, Farmers, Arthur J. Gallagher and more.

Japanese insurers made more than $18 billion worth of acquisitions in the U.S. last year, and their spending spree isnt over yet, according to industry dealmakers.

Greenlight Capital Re Ltd. posted a quarterly profit for the first time since 2014 on a rebound in the reinsurers investment portfolio.