Global Economy
Attritional and Catastrophe Losses Hammered Lloyd’s 2017 Results
The Lloyd's market's pre-tax loss of $2.8 billion in 2017 was partly due to hurricanes and wildfires in the third and fourth quarters. But these losses were exacerbated by the continued deterioration ...
China’s New Insurance/Banking Head Known for ‘Regulatory Firestorm’
Chinese financial heavyweight Guo Shuqing has been appointed head of the country's newly merged regulator for the banking and insurance sectors, Financial News, the official newspaper of the central ...
Europe Emerging as InsurTech Investment Hub: Accenture
Global investment in the insurance technology industry surged in 2017, with Europe emerging as a new hub outside the U.S., according to new research from Accenture. The research, which includes new ...
Lloyd’s CEO Beale Urges Brexit Fix for European Insurance Contracts
Lloyd's of London Chief Executive Officer Inga Beale said insurance contracts across Europe will remain at risk unless there's an agreement on how they should be treated in post-Brexit Europe. ...
Insurers, Banks Full Speed Ahead on Brexit Moves Despite Transition Deal
London-based banks and other financial firms won't put their Brexit moves on hold despite a transition deal between Britain and the European Union as it lacks full legal certainty, industry officials ...
The Latest Launches From XL Catlin and Bold Penguin/TechCanary
XL Catlin's London-based insurance operations have introduced a Brexit contract continuity clause. Bold Penguin and TechCanary are partnering to use their respective technology to streamline ...
Lawmakers Recommend Longer Brexit Process If Delays Would Help
Britain should consider a limited extension to its exit process from the European Union if needed to ensure details of its future relationship with the bloc are agreed, a committee of lawmakers said ...
Growth of Crypto-Assets Could Cripple Financial System Stability: BOE’s Carney
The rapid evolution of crypto-assets such as Bitcoin may one day make them a threat to the financial system, Mark Carney, chairman of the Financial Stability Board, said in a letter to Group of 20 ...