Fosun International Ltd. agreed to pay 174.6 million euros ($185 million) for a stake in Banco Comercial Portugues SA, Portugal’s biggest publicly traded lender by assets. A unit of Fosun will subscribe to about 157.4 million Banco Comercial shares at …
Allied World Assurance Company Holdings announced that Jacqueline Hall-Shaw has been appointed vice president, Professional Lines Division, based in London. She will report to Martin Heathfield, Senior Vice President, Professional Lines. Hall-Shaw has more than 15 years of experience in …
China’s Alibaba Group Holding Ltd. and Tencent Holdings Ltd. rallied behind Beijing’s recently imposed cyber security law on Thursday, following criticism of it from overseas technology rivals. The country’s two tech giants also urged closer cooperation between the public and …
Australia and New Zealand Banking Group’s sale of its life insurance and wealth business, which has been valued at $3.33 billion by the bank, is attracting interest from Japan’s Meiji Yasuda and Hong Kong-based AIA Group, according to people familiar …
Catastrophe modeling firm AIR Worldwide released its initial estimates of industry insured losses from the earthquake that struck New Zealand’s South Island early this week, putting a range of $762 million to $3.5 billion out for the event (NZD1.15 billion …
The earth is on track for its warmest year on record after October temperatures equaled the third-warmest for the month ever, a U.S. government agency said on Thursday. October globally was 1.31 Fahrenheit (0.73 Celsius) above the 20th century average …
Qatar Insurance Co. (QIC) plans a bond issue to boost its capital reserves, sources familiar with the matter told Reuters on Thursday. It would be the first perpetual bond to be issued by the insurance sector in the Gulf. Qatar’s …
Rather than replacing Solvency II entirely when the UK leaves the European Union, regulators need to refine EU’s insurance regulation to make it more appropriate for the UK market and customers, according to the Association of British Insurers (ABI). Following …
China’s Anbang Insurance Group Co. is set to purchase an office and retail tower in downtown Toronto that counts the Government of Ontario as a major tenant, according to people familiar with the deal. Anbang is close to an agreement …
Zurich Insurance Group AG plans to cut costs by $1.5 billion from 2015 through 2019 as Chief Executive Officer Mario Greco overhauls Switzerland’s largest insurer and seeks to boost the firm’s dividend. The new plan replaces a previous goal to …
