Global Economy
Former Anbang Insurance Chairman Slapped With 18-Year Prison Sentence Over $10B Fraud Case
Wu Xiaohui, former chairman of Anbang Insurance Group Co., was sentenced to 18 years in prison after being convicted of fundraising fraud and embezzlement, according to the official Xinhua News ...
AIG CEO Duperreault’s $43M Pay Package Gains Shareholder Approval
American International Group Inc said shareholders approved a $43.1 million pay package for 2017 for Chief Executive Officer Brian Duperreault during the company's annual meeting on Wednesday. A ...
Zurich Insurance CFO Quinn: ‘We Don’t Exist to Do M&A’
Zurich Insurance has no plans for a big merger, it said on Wednesday, despite speculation of a pick-up in dealmaking in the industry and that the Swiss company could get involved. The insurer's ...
With Eye on Brexit, Tokio Marine Picks Luxembourg as EU HQ
Tokio Marine Group said it has received regulatory approval from Luxembourg's Commissariat aux Assurances and the Japanese Financial Services Authority to set up a new insurance company in ...
Europe’s Regulators Say They Aren’t Ready for Sweeping New Data Privacy Law
Europe's General Data Protection Regulation (GDPR) has been billed as the biggest shake-up of data privacy laws since the birth of the web. There's one problem: many of the regulators who will police ...
China’s Anbang Insurance Reportedly Reviewing Assets for Possible Divestments
Anbang Insurance Group Co., the once-acquisitive Chinese insurer that's operating under government control, said it is in the process of reviewing all of its overseas assets amid reports of imminent ...
Report: Carl Icahn Sells Off AIG Stake
Billionaire investor Carl Icahn has sold his stake in AIG, Forbes reported on Monday, ending a more than two-year association with one of the largest U.S. property and casualty insurers. The activist ...
Regulators Say ‘Sandbox’ Approach May Work to Accommodate Tech-Driven Insurance Innovations
How should regulators address technology-driven insurance innovations that don't fit well under existing rules? A "regulatory sandbox" might be the way forward, a panel of regulators said at the ...