Global Economy
Struggling Russian Insurers May Need Additional State Support, Lobbyist Argues
Russia's banking crisis and a weak economy could spell more trouble for its insurance sector, requiring further state support following the bailout of top insurer Rosgosstrakh last year, the head of ...
Swiss Re Predicts SofBank Stake in Reinsurer Won’t Exceed 10%
Billionaire Masayoshi Son's SoftBank Group Corp. is likely to take a stake of 10 percent or less in Swiss Re AG as it seeks to gain a foothold in the cash-rich reinsurance industry. The Swiss ...
Brexit Will Move 5,000 UK Finance Jobs, Half of Earlier Projections: Reuters Survey
The number of finance jobs to be shifted out of Britain or created overseas by March 2019 due to Brexit has dropped by half compared to six months ago to 5,000 roles, firms employing the bulk of ...
The Latest Launches From XL Catlin, Validus and Tokio Marine Kiln
XL Catlin and RedSeal have a new resilience measure designed to gauge risk and improve cybersecurity and insurance terms. Validus Specialty Underwriting Services Inc. and a new partner are offering ...
Swiss Banks Face Substantial Risk From Cyber Attacks: Regulator
Cyber-attacks pose the biggest threat to the Swiss financial system with risks from hacking incursions on the rise, watchdog FINMA warned on Tuesday, calling on Switzerland to step up its national ...
B3i Blockchain Industry Collaboration Morphs Into a Startup Company
An international multicarrier collaboration focused on testing the potential of blockchain in the industry has incorporated as a startup company. The Blockchain Insurance Industry Initiative (B3i) ...
SCOTUS Rejects ‘Hank’ Greenberg’s AIG Bailout Appeal
The U.S. Supreme Court rejected an appeal by Maurice "Hank" Greenberg's Starr International Co., refusing to revive its bid to sue the federal government over the $85 billion bailout of American ...
Insurers, Banks to Get Brexit Update From Bank of England
The Bank of England said it would update banks and insurers next week on its approach to Brexit given that Britain and the European Union have now adopted a transition deal. "The Bank of England ...