The global “savings glut” that has driven stocks to record highs and bond yields to record lows will soon start to disappear, leading to higher interest rates around the world as populations age, according to a Barclays study. After three …
Aviva plc was fined 17.6 million pounds ($27.2 million) by the U.K. financial markets regulator for failing to manage conflicts of interest among funds in its fixed-income business. From August 2005 to June 2013, Aviva served funds that paid different …
The top-level Internet domain “.insurance” should be available to to the industry late this year, according to a financial services-backed organization that operates generic domains including “.bank.” The group, fTLD, submitted an application to the domain-approval organization, the Internet Corporation …
BP Plc on Monday appealed a federal judge’s finding of the size of the 2010 Gulf of Mexico oil spill, which leaves the company potentially liable to pay $13.7 billion in fines. In January, U.S. District Judge Carl Barbier in …
Bermuda-based RenaissanceRe Holdings Ltd. announced that W. James (“Jim”) MacGinnitie, 76, who has served as a member of the Board since 2000, will retire as a Director, and that William F. (“Bill”) Hagerty IV, 55, will join the Board, in …
Lloyd’s has appointed Jin-Yung Sun as its first general representative in South Korea. Sun has worked in the (re)insurance industry for 35 years as both an underwriter and a Lloyd’s broker. He spent the first 17 years of his career …
A train derailment in Canada this month that set ablaze several new-model tank cars carrying crude oil shows the need for tougher rail car standards, Canada’s safety watchdog said on Monday. The Canadian National Railway Co. train, carrying crude and …
Yachtowners, the specialist yacht syndicate of The Shipowners’ P&I Club, has launched an additional service for those owners who have purchased its Enhanced PA cover – (crew Personal Accident with medical expenses cover). The enhancement includes a “dedicated helpline for …
QBE Insurance Group Ltd., Australia’s second-largest insurer by market value, climbed the most in four years in Sydney stock trading as an improving North American business and lower provisions helped it return to profit. Net income in the year ended …
Officers have regained control of a South Texas prison where inmates had set fires and caused significant damage after taking over part of the facility, according to the private contractor operating the prison. About 300 of the 2,800 inmates were …
