US property insurance rates are decreasing for the first time in almost seven years, after insurers returned to profitability amid lower losses tied to catastrophes. The average US property insurance rate decreased 0.94% in the second quarter from a year …
Russian company RusChemAlliance has filed new lawsuits against five European banks that stopped financing the construction of a gas project in Russia after the West imposed sanctions against Moscow over the 2022 invasion of Ukraine. The lawsuits, all filed with …
Howden, the London-based insurance intermediary group, announced its launch into the Japanese retail insurance broking and captive consulting and management markets with the acquisition of Foresight Holdings Co. Ltd. Also announced was the appointment of Takuya Aibe as CEO of …
The Brazilian government confirmed on Monday it was in talks on a potential $18 billion payout from a trio of miners involved in a deadly 2015 dam collapse, saying the deal could also involve further repair work by the companies …
The focus of a lengthy probe into PricewaterhouseCoopers LLP’s China business now shifts to Hong Kong after the accounting firm was hit with a record fine in the mainland over its audit of failed developer China Evergrande Group. Hong Kong’s …
Private equity firms have changed the business models of life insurers they invest in, posing risks that are more likely to materialize with higher interest rates, according to researchers at the Bank for International Settlements. Buyout firms channel the insurance …
Taiwan’s financial regulator rejected on Monday a takeover attempt by financial conglomerate CTBC of rival Shin Kong saying its plans were incomplete. CTBC made an unexpected bid for Shin Kong last month, upending a proposal for Shin Kong to merge …
A turnaround in the personal lines insurance segment results was a key driver of an overall $3.8 billion profit from underwriting for the U.S. property/casualty insurance industry, according to a new report from AM Best. Best’s Special Report, titled, “First …
The latest flooding in central Europe could cause economic losses ranging from several hundred million euros to billions, early estimates published on Monday found, as the region braced for more damage. Credit rating agency Morningstar DBRS estimates losses will range …
Several oil companies including Exxon Mobil and Chevron defeated an appeal on Monday by consumers who accused them of colluding with former U.S. President Donald Trump, Russia and Saudi Arabia to cut oil production, boosting prices at the pump. In …
