Endurance Specialty Holdings Ltd., the Bermuda-based provider of property and casualty insurance, announced a $3.2 billion offer to buy Aspen Insurance Holdings Ltd. after the target company turned down its proposal.
Bill Gross and Larry Fink manage a $3 trillion pile of bonds -- an amount almost as big as Germany’s economy. Their firms, Pacific Investment Management Co. and BlackRock Inc., doubled holdings since 2008, outpacing the market’s growth of 50 percent.
JPMorgan Chase & Co., the largest U.S. lender, agreed to sell its large-market 401(k) recordkeeping business to a division of Canadian life insurer Great-West Lifeco Inc. Terms of the transaction weren’t disclosed.
Vanguard Group Inc., the third- biggest provider of exchange-traded funds, gained ground on larger competitors this year after gathering more than seven times as much money into its ETFs than the rest of the U.S. industry combined.
The road Andrew Balls took from journalist to one of Bill Gross’s new top deputies -- all by the age of 40 -- went through Oxford and Harvard, with a stop at Stanley Fischer. He’s likely to become one of the public faces of Pacific Investment Management Co., so there are some things to know about him.