April 3, 2017
The City of London should emerge largely unscathed from Brexit even though thousands of banking and insurance jobs could move to the continent, the financial district’s policy chief said. The “City” or “Square Mile,” home to over 250 foreign banks …
April 3, 2017
Damage to rail lines in cyclone-hit northeast Australia is set to disrupt exports of the steel-making material from the world’s largest coking coal region, underpinning prices and raising the prospect of major producers declaring force majeure. The extent of the …
April 3, 2017
Grab, Uber Technologies Inc.’s biggest rival in Southeast Asia, will acquire Indonesian e-commerce startup Kudo for an undisclosed amount, striking its first deal since pledging to invest $700 million in its largest market. The purchase is aimed at beefing up …
March 31, 2017
Principal Financial Group Inc. accused the managers of Liongate Capital Management LLP of hiding investments with Bernie Madoff while negotiating to sell half of their London hedge fund to Principal. Founders Randall Dillard and Jeff Holland, and Head of Research …
March 31, 2017
Allianz Insurance, the U.K.-based subsidiary of Allianz SE, has launched a video streaming platform called Allianz Site View, which is designed to enhance its claims proposition by enabling customers to send images, video clips or conduct live video interactions with …
March 31, 2017
Bermuda market re/insurers are beginning to experience lower profits, a deterioration in both return on equity and combined ratio as well as the drying up of favorable reserve development. These negative trends are becoming increasingly evident for Bermuda insurers and …
March 31, 2017
A Qatar Insurance Co. SAQ unit has signed a lease for a new headquarters close to the Lloyd’s of London insurance market, which is more than twice the size of the company’s existing premises. Antares Underwriting Services Ltd., acquired by …
March 31, 2017
Fosun International Ltd., the Chinese insurance-to-tourism conglomerate, is seeking investors for a minority stake in its reinsurance business ahead of a possible initial public offering, according to people familiar with the matter. The sale of shares in Peak Reinsurance Co. …
March 31, 2017
Endurance Specialty Holdings Ltd. got a financial ratings upgrade from A.M. Best and is no longer under review, based on positives the ratings agency sees after it was acquired by Japan’s SOMPO Holdings Inc. for $6.3 billion. A.M. Best upgraded …
March 31, 2017
Investing in technology-oriented insurance ventures (insurtech) is clearly a global trend and almost half of all the money being poured into them globally is going into artificial intelligence and internet of things startups, new research finds. The research from Accenture, …