Global Economy
Lloyd’s 2016 Underwriting Profit Takes Hit From Higher Natural Catastrophe Losses
Lloyd's reported 2016 pretax profit of £2.1 billion pounds ($2.6 billion). That's level with 2015, despite a worsening of the market's combined ratio at 97.9 percent, compared with 90.0 percent in ...
Insurers Risk Triggering Government Regulation Without Responsible Big Data Usage: Fitch
For insurers, the new world of big data and analytics is one that's relatively unregulated. With that in mind, executives would do well to use these technologies responsibly so they don't stimulate ...
Fraud Probe Proceeds Concerning Exxon’s Disclosure of Climate Change Financial Risks
Exxon Mobil Corp.'s attempt to derail a multistate fraud probe into whether the company fully disclosed to investors the financial risks of climate change was dealt a major blow after a Texas judge ...
Brussels Wins as Lloyd’s Choice for Post-Brexit EU Hub
Lloyd's of London, the insurance market founded in the British capital in 1688, plans to open a European Union hub in Brussels following the U.K. vote to leave the bloc. The company expects the ...
China’s Anbang Insurance and Kushner End Manhattan Tower Deal Talks
China's Anbang Insurance Group Co. and a company co-owned by the family of President Donald Trump's son-in-law Jared Kushner have ended talks to redevelop a Manhattan office tower, a deal that had ...
Brexit Has Officially Begun
Prime Minister Theresa May filed formal Brexit divorce papers on Wednesday, pitching the United Kingdom into the unknown and triggering years of uncertain negotiations that will test the cohesion of ...
Wells Fargo Will Settle Lawsuit Over Account Abuses With $110M Payment
Wells Fargo & Co said it agreed to pay $110 million to settle a lawsuit by customers challenging its opening of accounts without their permission, a practice that led to a scandal that cost the ...
Brussels or Luxembourg? Lloyd’s Will Reportedly Choose One as EU Hub
Lloyd's of London, the world's largest speciality insurance market, will this week pick Brussels or Luxembourg for its planned European Union subsidiary, after Dublin had been an early favorite, ...