Global Economy
U.S. Prosecutors to Pursue Criminal Probe of 6 Pharma Companies Over Opioid Shipments
Federal prosecutors are investigating six pharmaceutical companies for potential criminal charges in connection with shipping big quantities of opioid painkillers that contributed to a healthcare ...
InsurTech Cytora, MGA C-Quence Partner to Quicken Commercial P/C Underwriting Processes
Digital managing general agent C-Quence and InsurTech Cytora are partnering to advance broker processes for commercial property/casualty underwriting. C-Quence will launch its P/C line of products in ...
Global Temperature Jumps Could Bring ‘Wide-Ranging’ Consequences: U.N. Report
Global temperatures could rise sharply this century with "wide-ranging and destructive" consequences after greenhouse gas emissions hit record levels last year, international climate experts warned ...
German Museum Finds It Has No Jewel Insurance After $1B Theft
A day after burglars made off with priceless jewels from a German museum, pressure is growing on police to find the culprits. One big reason: The diamond-encrusted dagger, pearl necklace, and dozens ...
AIG Selling Bulk of Fortitude Re to Carlyle, T&D Holdings for $1.8B
American International Group plans to sell the bulk of Fortitude Re to private equity firm The Carlyle Group and Japanese insurer T&D Holdings for $1.8 billion. Plans call for a newly created ...
Chubb Boosts Stake in Major China Insurer
Chubb Ltd. has increased its investment in one of China's major insurers, reflecting a deeper commitment to penetrating the market there. Chubb said it would purchase another 15.3 percent of Huatai ...
Qatar Insurance Hit With S&P Outlook Downgrade Over Loan Acquisition Risks
S&P Global Ratings said it revised its outlook on Qatar Insurance Co. S.A.Q. (QIC) to negative from stable, although it has affirmed the group's "A" rating. When QIC acquired four of ...
Disaster-Prone Philippines Taps Catastrophe Bonds
The Philippines, among the world's most disaster-prone nations, sold its maiden foreign-currency catastrophe-linked bonds to help cover costs of major calamities, in conjunction with the World Bank. ...