Global Economy
Files Seized From VW Law Firm Can Be Used in Investigation: Court Ruling
Volkswagen has lost a legal challenge to prevent prosecutors from examining unpublished documents about its emission scandal, with Germany's top court ruling on Friday that files seized from a U.S. ...
Allianz Board Member: Financial Market Volatility Will Harm Insurer’s Fund Business
Recent volatility in financial markets will curb inflows this year into Allianz's asset management business, which includes U.S. bond giant Pimco, a board member told Reuters. In 2017, Allianz reeled ...
UK Financial Firms Ordered to Prepare Readiness Plan for Possible Cyber Attacks
Many U.K. financial firms don't have a Plan B to fall back on if they're hit by a cyber attack. The Bank of England wants to change that. Financial regulators told firms to come up with a detailed ...
Rebranded Liberty Mutual Re Starts in U.S. Marine Market and Debuts in Italy
Liberty Specialty Markets has rebranded its reinsurance division as Liberty Mutual Re, has begun writing marine business in the U.S. for the first time and is opening for business in Italy. Scott ...
Zurich Insurance Extends Flood Resilience Alliance for 5 More Years
Zurich Insurance Group plans to extend its flood resilience alliance for a second five-year period, until 2023. The alliance, including non-profits, academia and Zurich's risk management experts, has ...
Swiss Re Launches Restrictive Coal Exposure Coverage Policy
Swiss Re has started a policy where it will not provide insurance or reinsurance to businesses with more than 30 percent thermal coal exposure. The policy, first announced in June 2017, is designed ...
XL Catlin’s VC Arm Leads $16.5M Financing for Israeli Maritime Risk Analytics Firm
XL Catlin's venture capital arm is the lead investor in a $16.5 million financing for Windward, a maritime risk analytics firm based in Israel. XL Innovate led the Series C financing, though previous ...
Property Catastrophe Reinsurance Rate Hike Momentum Sputters: Willis Re
Any momentum for property catastrophe reinsurance rate hikes in place earlier this year has largely dissipated during the June/July renewals, and some pricing has even dipped, Willis Re said in its ...