Allianz forms JV with LV= to create 3rd largest British P&C insurer

German insurance titan Allianz said on Friday that it had agreed to create a joint venture and strategic partnership with British insurer LV= to form the third-largest property and casualty insurance company in the UK. Allianz will pay 500 million pounds ($657.35...

Toyota to take 5 percent stake in Mazda, jointly build $1.6 billion U.S. plant

TOKYO (Reuters) – Japanese automakers Toyota Motor Corp and Mazda Motor Corp announced on Friday they will build a $1.6 billion U.S. assembly plant as part of a new joint venture, while Toyota will take a 5 percent stake in its smaller rival. The plant, which is...

Swiss Re H1 profit drops by a third, prices keep falling in July

Swiss Re, the world’s second-largest reinsurer, wrote 10 percent less business during the July property and casualty contract renewal season as rates continued to decline, albeit at a slowing pace, it said on Friday. First-half net profit fell 35 percent to $1.2...