Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., has been added to a list of insurers deemed systemically important by global financial rule makers, while Italy’s Assicurazioni Generali SpA was removed. The updated list of nine too-big-to-fail insurers …
Insurers are unprepared for the costs of climate change, the top United Nations climate diplomat said as world leaders make final preparations for a deal on global warming. The agreement, which the UN expects to seal in Paris in December, …
Lloyd’s of London and other UK insurers called for collective action to address climate change on Thursday, after a report from the UK regulator this week highlighted risks to their industry from global warming. In an open letter to Bank …
Lloyd’s of London Chairman John Nelson criticized the business community, saying companies are too focused on profit and are at risk of eroding the trust of the public and regulators. Nelson, speaking at Lloyd’s annual dinner in London, said a …
Bank of England Governor Mark Carney said UK insurers face potentially “huge” exposure to shifts in climate-change policy and Group of 20 nations need to do more to combat associated financial stability risks. “The challenges currently posed by climate change …
Global regulators are making it more expensive for hedge funds and insurance companies to raise money from loaning shares in a bid to curb hitherto unregulated risks in “shadow banking.” Securities financing are typically short-term money-raising transactions between banks and …
