The UK’s new Finance Minister, George Osborne, looks set to announce on Wednesday sweeping new powers for the Bank of England to police the financial sector and prevent another credit crisis. In his first “Mansion House” speech to the City …
Lloyd’s announced that Paul Jardine from Catlin Syndicate Limited will become a Deputy Chairman of The Council of Lloyd’s following Ewen Gilmour’s retirement from the position earlier this month. Jardine, currently Chief Operating Officer of Catlin Underwriting Agencies, has more …
BP Plc Wednesday agreed to a demand by U.S. President Barack Obama to pay $20 billion into a special fund to handle claims from its huge Gulf of Mexico oil spill and said it was suspending payment of dividends this …
A report from Marsh’s London office examines the changing need and conditions affecting captive insurance companies. Marsh said the report – Single Parent Captive Benchmarking: Capital and Collateral, examines how “owners of captive insurance companies are tapping into surplus funds …
The judge handling the criminal case against accused Ponzi schemer Allen Stanford is allowing parties to review documents related to allegations that the Texas financier’s lawyers engaged in insurance fraud. An order released Monday by U.S. District Judge David Hittner …
U.S. buyout firm Apollo will have to raise its offer for Brit Insurance by at least 10 percent to pull off its planned takeover of the Lloyd’s of London insurer, analysts said. Five analysts polled by Reuters said Brit would …
President Barack Obama will press BP executives this week to set up an escrow account to pay damage claims by individuals and businesses hurt by the Gulf of Mexico oil spill disaster. The move comes as Obama, who will address …
BP said the oil spill in the Gulf of Mexico had already cost it $1.6 billion and that it would begin operating an additional mechanism to capture more crude from the leaking well in the coming days. London-based BP said …
The heads of all the national terrorism insurance programs of the OECD (Organization for Economic Co-Operation and Development) member countries met earlier this month at the OECD headquarters in Paris in an attempt to assure that terrorism risks will continue …
Swiss Re is hosting an “Investors Day” Conference in London focused on the current state of the reinsurance market, its future prospects and the potential reguylatory changes affecting capital. The reinsurer said it expects the growth outlook for the reinsurance …
