A South Korean court on Friday sentenced an executive of Volkswagen’s local unit to one year and six months in prison for fabricating documents on emissions and noise-level tests to achieve certification for vehicles for import. This is the latest …
Prem Watsa’s Fairfax Financial Holdings Ltd. is in talks with the Ontario Municipal Employees Retirement System (OMERS) to see if the pension fund will help finance his $4.9 billion takeover of Allied World Assurance Co., according to a person familiar …
Cranbrook Underwriters, an H.W. Kaufman Financial Group company, announced the relocation of its London offices to One Minster Court, Mincing Lane, London EC3R 7AE, U.K., in the heart of London’s financial center. This strategic move follows the relocation of two …
Hub International Ltd., the Chicago-based global insurance brokerage, announced it has acquired Mainline Insurance Brokers Inc., Indian Head Agencies (1980) Ltd., R&J McKay Agencies Ltd. and Cathedral Insurance Services (1995) Ltd. — all known as Mainline. Terms of the acquisition …
The group that orchestrated the theft of over $2 million from cash machines at Taiwan’s First Commercial Bank in July was also behind an ATM hacking spree in more than a dozen European nations last year, according to cyber security …
Collinson Group, the London-based provider of insurance and assistance solutions, has appointed Saugata Basu as chief underwriting officer. In his role, Basu will partner with the group’s capacity providers to develop an underwriting framework that enables future growth and commercial …
Proposed ownership limits at Chinese insurance companies could effectively stop conglomerates such as China Evergrande Group and Baoneng Group from using their insurance units to help fund acquisitions and riskier investments. The draft China Insurance Regulatory Commission’s (CIRC) proposals, unveiled …
An Uber driver is an employee for which the company must pay social security contributions, a Swiss insurance agency has ruled, dealing a blow to the U.S. ride-hailing platform that says drivers are independent contractors. The California-based startup whose cab …
Economical Mutual Insurance Co., the Waterloo, Ontario-based property and casualty insurance company, announced the completion of its previously announced acquisition of Western Financial Insurance Co. (WFIC) and its flagship brand Petsecure from Desjardins Group. Concurrent with the acquisition, WFIC changed …
Israel’s Finance Ministry opposes the sale of insurance companies to Chinese investors because it’s hesitant to put pension money in their hands, a senior government official said, a stance that could bode ill for Fujian Yango Group Co.’s bid to …
