Global Economy
As Hurricane Michael Hits, a Look Back at September’s Natural Catastrophes
September was a tough month for the United States in terms of tropical cyclones, and sites around the world faced tsunamis, typhoons and earthquakes. The United States dealt with two over the 30-day ...
Ascot Group Establishes U.S. Division; Wolyniec Named to Lead It
Ascot Group has established a U.S. division and has promoted an executive from within to lead it. The Bermuda-based specialty insurer and reinsurer appointed Greg Wolyniec as president and CEO of ...
Lloyd’s Pledges to Pay All Valid Claims if Hard Brexit Takes Place
Lloyd's said it is working on transferring all European Economic Area (EEA) business to its EU headquarters, Lloyd's Brussels, before the end of 2020 via a Part VII transfer. Part VII transfers, in ...
Payment Companies Test Cyber War Games as Way to Manage Hack Attack Risks
Global payment companies held their first joint cybersecurity war games to test their systems' readiness for simultaneous attacks, uncovering differences in their defenses including even how to ...
No-Deal Brexit Could Produce ‘Massive Crisis,’ German Industry Warns
German industry warned that Europe risks sinking into chaos and trade will collapse if U.K. and European Union leaders fail to resolve their differences on the future of Britain's relationship with ...
Allianz Global Corporate & Specialty Reorganizes Alternative Risk Transfer Business
Allianz Global Corporate & Specialty (AGCS) said it is reshaping its Alternative Risk Transfer (ART) business into two new specialist teams, a move responding to the growing importance of ...
North Korea Hacking Group Tried to Steal $1.1B From Global Banks Over Four Years
A North Korean hacking group has tried to steal at least $1.1 billion in a series of attacks on global banks over the past four years, according to cybersecurity firm FireEye Inc. The hackers, which ...
Britain’s Aviva Boots CEO, Plans to Appoint Successor Within Four Months
Aviva is replacing its chief executive Mark Wilson after his sweeping transformation of the British insurer did not deliver the returns shareholders were looking for. During his six years in charge, ...