Global Economy
Hedge Funds Are Betting on a Reinsurance Recovery
Hedge funds bought reinsurance stocks in the third quarter after prices tumbled on widespread losses after multiple hurricanes in North America, filings showed on Wednesday. Hurricanes in the United ...
European Insurers Surpass U.S. Rivals in Coal Investment Exits: Campaign Group
Insurers have pulled $20 billion out of coal investments, but most are European and none of the top nine U.S. insurers has taken "meaningful action," campaign group Unfriend Coal said on Wednesday. ...
VW Will Cough Up $69M to Settle Emissions Suits in New Jersey
Volkswagen AG confirmed on Tuesday it has agreed to pay $69 million to settle New Jersey state diesel emissions claims, one of the last major outstanding diesel legal issues the German automaker ...
AXA Will Push P/C, Protection and Health Insurance Growth Through 2020
French insurer AXA confirmed its key 2020 financial targets on Tuesday after announcing a management shake-up that saw the departure of several senior executives. Chief Executive Thomas Buberl, at ...
China Will Let Overseas Firms Buy Majority Stakes in Its Domestic Insurers
China took a major step toward the long-awaited opening of its financial system, saying it will remove foreign ownership limits on banks while allowing overseas firms to take majority stakes in local ...
Global ‘Too Big to Fail’ Insurer Assessment Reportedly Going Away
Global financial regulators have decided to ditch a "too big to fail" gauge for assessing the riskiness of insurers, according to a source briefed on the matter, in a big win for companies such as ...
London Wants Post-Brexit Regulatory Help For Financial District
Britain's regulators should put more emphasis on keeping banks globally competitive after Brexit, the City of London financial district's policy chief said on Thursday. Catherine McGuinness said ...
Solving Financial System Cybersecurity Challenges Won’t Happen With Regulation: Fed Official
More rules may not be the best answer to protecting the financial system against cyber attacks, a Federal Reserve official said. "I don't think the solution to the cybersecurity problem rests in ...