Global Economy
Demand for Cyber Insurance Soars as Hacker Crime Fears Grow
For companies and organizations, an attack by hackers can inflict financial losses, corporate embarrassment and legal action. For insurers jumping into the brave new world of cyber crime insurance, ...
French Insurer AXA Moves to Cut Stake in AllianceBernstein With U.S. IPO
A week after Axa SA ousted Peter Kraus from its AllianceBernstein Holding LP unit, the French insurer is taking steps to reduce its financial investment in the money manager to raise cash for deals. ...
Munich Re, Hannover Re Hit With Higher Q1 Natural Catastrophe Claims
Reinsurers Munich Re and Hannover Re both reported that first-quarter results are on track to meet their annual targets, despite Q1's higher level of catastrophe claims. Munich Re reported ...
More Than a Quarter of Big UK Financial Firms Planning Brexit-Related Staff Moves
More than a quarter of major U.K. financial services firms have said they will move staff or operations abroad, or are reviewing their domicile because of Brexit, according to consulting firm EY. ...
Wells Fargo Reportedly Mulling Sale of Insurance Brokerage Business
Wells Fargo & Co. is weighing a sale of its insurance brokerage business, which could fetch about $2 billion, people familiar with the matter said. The San Francisco-based lender has begun ...
More China Insurance Regulators Reportedly Under Scrutiny
Chinese investigators have questioned at least two more officials at the nation's insurance watchdog after starting a probe into the agency's former top official Xiang Junbo, according to a person ...
Blame Brexit: 9,000 Bank Jobs Will Move From London to EU Over 2 Years
The largest global banks in London plan to move about 9,000 jobs to the continent in the next two years, public statements and information from sources shows, as the exodus of finance jobs starts to ...
Executives On The Move at XL Catlin, Beazley, RLI and Erie Insurance
XL Catlin hired three executives to beef up expanded M&A insurance operations for global transactional risks. An executive joins Beazley to fill the newly created role of financial lines regional ...