India aims to launch its $8 billion listing of state-run Life Insurance Corp. (LIC) by mid-April, two government sources said, after delaying what will be the country’s biggest ever IPO from this month due to market volatility. The government aims …
Allianz and Swiss Re said on Monday they were cutting back on Russian business as European financial institutions turn their backs on Russia. The German insurer and Swiss reinsurer join banks Deutsche, Goldman Sachs and JPMorgan Chase which have exited …
Norway’s DNV, one of the world’s top ship certifiers, is winding down its Russia business and reviewing all existing contracts becoming the latest company to cut such services as pressure grows on Moscow after its invasion of Ukraine. Classification societies …
Global leasing companies staring at an imminent sanctions deadline to repossess more than 400 jets worth almost $10 billion from Russian airlines have received mostly radio silence as experts warn of legal wrangling that could last a decade. Western bans …
Kazakhstan’s flagship carrier, Air Astana, has suspended all flights to Russia and over Russian territory because such flights can no longer be insured, the company said on Friday. Air Astana, in which Britain’s BAE Systems owns a 49% stake, said …
Lloyd’s Register, one of the world’s top ship certifiers, is stopping services to Russia after sanctions were imposed on Moscow for its invasion of Ukraine, the company said on Thursday. Classification societies including LR provide services such as checking that …
Marsh McLennan, the world’s largest insurance broker, said on Thursday it would exit all of its businesses in Russia, while its rival Aon suspended operations in the country. “We intend to transfer ownership of our Russian businesses to local management …
Although insurance penetration in Ukraine and Russia is low, global insurers will face secondary impacts from greater financial market volatility and higher energy prices, Moody’s Investors Services said last week. In a research report released prior to yesterday’s news of …
The insurance rating firm AM Best said it has moved its country risk tier for Russia to a CRT-5 from a CRT-4 to reflect the “significantly heightened geopolitical, economic and financial system risk” in the country. Sanctions against Russia have …
Britain said on Wednesday it had impounded a plane connected to a Russian billionaire under new aviation sanctions which give authorities the power to detain any Russian aircraft and to ban exports of aviation or space-related goods to Russia. The …
