Global Economy
London Remains a Magnet for Global Finance, Though Insurance Employment Declined
From the pinnacle of the City of London's largest skyscraper, Stuart Lipton is wagering a $1.2 billion bet that the British capital remains a master of the international financial universe no matter ...
AXA Reportedly Considers Selling Off Its Central European Biz
French insurer AXA is considering selling its Central European business as part of a restructuring to quit markets where it lacks scale, three sources familiar with the situation said. AXA is ...
MS Amlin Exits Aviation Insurance Market
MS Amlin, the London-based global specialty insurer and reinsurer and subsidiary of MS&AD, confirmed its exit from the aviation insurance market, effective from Oct. 14 when it will cease ...
Japan Typhoon Death Toll Hits 43; 110,000 Rescuers Sent In
Japan is sending more than 110,000 people including its Self-Defense Forces to tackle rescue and cleanup operations in the wake of the most powerful typhoon to hit the country in decades, which left ...
PartnerRe Getting New CFO, First-Ever Chief Operations Officer
Some executive leadership changes are coming to global reinsurer PartnerRe. Executive Vice President and Chief Financial Officer Mario Bonaccorso plans to retire on March 31, 2020 to pursue a new ...
Cambridge Mobile Telematics and Investor SoftBank See $$$ in Autonomous Vehicles
As of 2018, Cambridge Mobile Telematics was in a sweet spot. The Massachusetts-based company launched in 2010 was independent and had become profitable. Its technology used by insurers and others to ...
Hyundai, Kia Set Aside $758M to Resolve Class Action Suits Over Engine Fires
Hyundai Motor Co and affiliate Kia Motors Corp have earmarked 900 billion won ($758 million) to settle U.S. class action litigation and address engine-related issues in the United States and South ...
EU Warns Next-Gen 5G Networks Present Increased Cybersecurity Risks
The European Union warned on Wednesday of the risk of increased cyber attacks by state-backed entities but refrained from singling out China and its telecoms equipment market leader Huawei ...