Genworth-China Oceanwide Deal in Doubt

The likelihood that regulators will approve China Oceanwide Holdings’ $2.7 billion, or $5.43 per share, acquisition of Genworth Financial is slim, several attorneys told CTFN. “I don’t see this deal happening no way and no how,” an insurance regulatory attorney close to Genworth said. “This is evenfeatured

Government Argues MetLife Too Big To Fail Tag Not Arbitrary

An attorney for the Department of Justice told a federal appeals panel Monday that the decision by the Financial Stability Oversight Council designating MetLife as too big to fail was done with careful deliberation and was not arbitrary and capricious, as a lower court ruled on March 30. Mark Stern, the government’s lead lawyer in … Read Morefeatured

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MetLife in Limbo as Government Pursues Too-Big-to-Fail Designation

The battle over the too-big-to-fail designation for MetLife will commence anew when the government airs its appeal of a federal court ruling that the government overstepped its authority in naming the insurance giant a systemically important financial institution, but experts expect the case to go all the way to the Supreme Court either way the … Read Morefeatured

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Judge Questions Too-Big-to-Fail Tab for MetLife

A federal judge appeared this morning to support MetLife’s suit challenging the Financial Supervisory Oversight Council’s designation of the insurance giant as a systemically important financial institution. During a two hour hearing in U.S. District Court for the District of Columbia, Judge Roesmary Collyer questioned the government agency’s process for determining the SIFI designation and … Read Morefeatured

Live Updates: MetLife v. FSOC in U.S. District Court

Today, February 10, the hearing will begin at 10am EST in the matter of MetLife, Inc. v. Financial Stability Oversight Council in U.S. District Court for the District of Columbia. Veteran D.C. correspondent Ed Roberts is in the courtroom and CTFN will post his notes here live as quickly as possible given the courtroom restrictions. … Read Morefeatured

MetLife Heads to Court Over SIFI Designation

MetLife Inc. heads to U.S. District court today to challenge the Financial Stability Oversight Council’s decision to designate the insurer as a systemically important non-bank financial institution. Such a designation subjects MetLife to stringent oversight by the U.S. Federal Reserve and to requirements including  additional capital adequacy. (Editor’s Note: CTFN’s Washington, D.C., correspondent Ed Roberts … Read Morefeatured

Interview:  AXIS Capital Looks for Combined Ratio Improvement

All mergers begin with hope and big expectations. How they end is another matter. When AXIS Capital Holdings and PartnerRe announced merger plans on January 25, 2015, the aim was to create one of the world’s preeminent specialty insurance and reinsurance companies, with gross premiums written in excess of $10 billion, total capital of more … Read Morefeatured

RSA Insurance Remains in Play

The end of the merger between Zurich Insurance Group and RSA Insurance Group left many investors disappointed. For RSA shareholders, however, those dispiriting feelings may be short lived. RSA remains an acquisition target. “Once a company puts itself in play, particularly one that is not doing particularly well, it stays in play,” Robert B. Shapiro, … Read Morefeatured

AXIS Capital Continues to Invoke Takeover Speculation

When PartnerRe Ltd. announced Monday that it had reached a definitive agreement with EXOR SpA to be acquired for $140.50 per share, which includes a special pre-closing dividend of $3 a share, it terminated its amalgamation agreement with AXIS Capital Holdings Ltd. raising questions about the path forward for AXIS. Rumors have swirled since deep-pocketed … Read Morefeatured

State Regulators Eye Too Big To Fail for Anthem/Cigna

As the Department of Justice commences its review of the huge mergers in the healthcare insurance arena, state insurance regulators are also expected to focus on the risk profile and liabilities of the combined entities at a time when too big to fail has become a warning signal. “Remember, these healthcare providers are insurers too,” … Read Morefeatured

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