Global Economy
Faced With Brexit, European Banks Trim Exposure to UK Assets
European banks pared their exposure to Britain in the aftermath of its vote to quit the European Union, slashing their U.K. assets by $425 billion in the span of a year. The decline was driven by a ...
Chubb Takes Deeper China Dive Through Multiyear Partnership Agreement
Chubb signed a 10-year strategic cooperation deal with a Chinese insurer that lets it take a deeper dive into China's market. The agreement is with PICC Property & Casualty Company of China., and ...
Zurich Will Earmark $5B for Impact Investments
Zurich Insurance Group AG plans to more than double its allocation to impact investments, earmarking $5 billion for a broader range of assets after devoting $2 billion to green bonds in recent years. ...
Global Regulators Rethinking How to Assist Risks in Large Insurers
Global regulators are rethinking how to assess risks in big insurance companies, marking a shift that could make life easier for the industry. The Financial Stability Board said on Tuesday it could ...
China’s Ping An Insurance Is Now Second to Berkshire Hathaway in Terms of Market Value
A surge in Ping An Insurance (Group) Co.'s shares this year has made it the world's second-largest insurer by market value behind only Berkshire Hathaway Inc. And the rally may not be done yet. ...
Brexit Drives British Ship Insurer North to Establish Dublin Subsidiary
British ship insurer North is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the first of these specialized providers to ...
‘Brexit Bill’ Proposal Likely From Britain Before December EU Summit
Britain will submit proposals on how to settle its divorce bill with the European Union before an EU summit next month and is expected to negotiate hard, finance minister Philip Hammond said on ...
China Issues Sweeping Rules to Regulate $15 Trillion in Asset Management Products
China's central bank on Friday issued sweeping guidelines to tighten rules on asset management business, the latest step by Beijing to fend off systemic risks in the country's rampantly growing ...