The asset management arm of Goldman Sachs Group Inc. has acquired Dwight Asset Management from a unit of insurance provider Old Mutual PLC to bolster its retirement plan investment services, Goldman said Tuesday.
A New York state appeals court on Tuesday spared private equity firm J.C. Flowers & Co. LLC from facing a lawsuit alleging it improperly killed a $104 million deal to buy an insurance company from another private equity firm.
A loss adjuster failed Monday to toss Whirlpool Corp.'s claim in Michigan federal court that it falsely promised Whirlpool that a Chinese insurer would defend the company in a suit over a fire allegedly caused by a defective air conditioner.
The National Federation of Independent Business and 26 states filed briefs with the U.S. Supreme Court on Monday arguing that the federal health care reform law's individual mandate is an unprecedented overreach of federal authority that violates both states' rights and individual liberty.
The Fifth Circuit on Friday upheld a lower court’s ruling that two insurance companies must defend an ambulance service that was sued after a woman sustained fatal injuries while being transported, finding neither insurer’s exclusions or policy language excused them from coverage.
The Second Circuit on Monday decertified a class of employee pension plan trustees alleging Nationwide Financial Services Inc. improperly bargained for revenue-sharing payments from mutual funds, ruling the class's disgorgement claims were precluded by the U.S. Supreme Court's decision in Wal-Mart Stores Inc. v. Dukes.
Private equity firm Duke Street has acquired a majority stake in the Parabis Group, the parent company of insurance litigation law firms Plexus Law and Cogent Law, in a deal that may make Parabis one of the first major U.K. law firms to be owned by a private investor, Duke Street announced Monday
New York stock insurance company Financial Guaranty Insurance Co. last week accused Ally Financial Inc. and its mortgage subsidiaries of violating their contract by adding new loans into the $991 million package of residential mortgage-backed securities FGIC insured in 2005.
A California federal judge on Monday again trimmed the Federal Deposit Insurance Corp.'s $129 million suit accusing an appraisal services company of breaching contracts with bankrupt Washington Mutual Inc. and causing it to suffer losses on bad mortgage loans.
The Fourth Circuit on Friday reduced the amount of coverage that Pennsylvania National Insurance Co. owes in a lead poisoning suit, while rejecting an appeal that would have put the insurer on the hook for an $850,000 judgment, rather than just the 40 percent determined by the district court.
Mead Johnson & Co. on Friday lost a bid to lodge counterclaims against National Union Fire Insurance Co. of Pittsburgh, PA in one of two lawsuits the insurer filed to avoid liability for false advertising damages stemming from suits brought by a rival and class of consumers over the nutrition company's Enfamil baby formula.
Attorneys for private equity firms J.C. Flowers & Co. LLC and Metalmark Capital Holdings LLC sparred Monday over whether their failed $104 million sale of an insurance company should be subject to a $4.5 million adjustment.
A South Carolina federal jury on Friday found that Liberty Mutual Fire Insurance Co. should pay two policyholders more than $13 million in damages for its improper settlement of five underlying homeowner suits over allegedly defective windows and doors.
Corporate law firm Bingham McCutchen LLP has lured away a partner from Dewey & LeBoeuf LLP in order to expand its private equity and insurance capabilities in New York and Connecticut, Bingham announced on Monday.
A Florida federal judge refused on Monday to throw out a grand jury indictment charging four Vanguard Fire and Casualty Co. executives with defrauding a state insurance bailout fund of $20 million.
Looking to build on its other restaurant investments, title insurance and mortgage services company Fidelity National Financial Inc. is buying all outstanding shares of restaurant operator O'Charley's Inc. that it doesn't already hold in a $221 million deal, the companies said Monday.
Arch Insurance Co. hit Michaels Stores Inc. with a coverage suit Friday alleging it had no obligation to defend or indemnify the arts and crafts retailer in several putative class actions over theft of consumer financial data from its stores.
President Barack Obama will nominate to the Federal Deposit Insurance Corp. board a JP Morgan Securities LLC executive director who previously served in former President George W. Bush's administration, the White House announced Friday.
Costco Wholesale Corp. asked a federal court in Washington state on Thursday to rule that Washington law applies in its suit seeking at least $20 million in damages from Nationwide Mutual Insurance Co. for denying coverage related to allegedly contaminated cheese.
A California federal judge on Wednesday nixed a putative class action accusing Bank of America Corp. and affiliate Intersections Insurance Services Inc. of taking money out of customer bank accounts to pay for insurance policies for which they had never signed up.