The Federation of European Risk Management Associations (FERMA) has told the European Commission that it should start with “implementation and robust enforcement” of existing EU corporate governance rules on risk management, rather than creating new ones now. FERMA made the …
Major European banks have limited their losses on Greek bonds to just over €5 billion [$7.2 billion] after negotiating a 21 percent haircut on their debt holdings as part of a rescue plan. France’s BNP Paribas is set to take …
European Union leaders are poised to hold an emergency summit after finance ministers acknowledged for the first time that some form of Greek default may be needed to cut Athens’ debts and stop contagion to Italy and Spain. “There will …
European politicians accused credit rating agencies on Wednesday of anti-European bias after Moody’s downgrade of Portugal’s debt to “junk” cast new doubt on EU efforts to rescue distressed euro zone states without debt restructuring. European Commission President Jose Manuel Barroso …
Banks and policymakers moved closer to a deal on Friday to help Athens secure funds ahead of a parliamentary vote on austerity next week that Greek Prime Minister George Papandreou must win to avert default. Despite a refusal by the …
Insurance professionals from the UK and Guernsey were told of the benefits that could result from the Island’s stance on Solvency II. Nearly 100 risk managers, brokers, lawyers, representatives from ratings agencies and insurance trade media journalists attended the Guernsey …
The ACE Group announced today the availability of a new report that identifies the potential impact of the European Union’s Solvency II regulatory requirements on captive insurance companies and offers an alternative insurance structure for risk managers of multinational companies …
Russia banned imports of raw vegetables from the European Union on Thursday because of a deadly E.coli outbreak centered in Germany, Russian media cited the head of the consumer protection agency as saying. “A ban on the import of fresh …
Although it has been coming for more than 10 years, the European Union’s Solvency II regulations covering the community’s insurance industry is now virtually around the corner. Over the years there has been a great deal of discussion centering on …
The European Union presented world trade negotiators with a last-minute plan to rescue stalled free trade talks on Friday, saying there were still avenues of negotiation to explore after 10 years of trying. In a presentation to a key meeting …
