Global Economy
Too-Big-to-Fail Rule Under Attack From House Republicans
Congressional Republicans are taking aim at the regulatory process through which some financial institutions become subject to heightened regulation because they are deemed too big to fail. In a ...
Reserve Strengthening Likely for UK Insurers After Personal Injury Discount Rate Cut
The earnings of U.K. insurers likely will be hit by reserve strengthening following the U.K. government's announcement of a dramatic cut to the discount rate used to calculate lump-sum personal ...
Report: AIG Explores Penalizing or Booting CEO Hancock Over Turnaround Setback
American International Group Inc's directors are discussing whether to penalize or oust Chief Executive Peter Hancock over a major setback in the insurance firm's turnaround plan, the Wall Street ...
Arch Re Launches Gulf Underwriting Entity to Supplement Gulf Re’s Role
Arch Reinsurance Ltd. has created an entity to handle its underwriting in the Gulf region and eventually replace the role Gulf Re plays in its business there, a few years after it had fully acquired ...
Brexit Aftermath: UK-Regulated Ship Insurers Eye Luxembourg, Cyprus Outposts
U.K.-regulated ship insurers are preparing plans to open new outposts in European Union jurisdictions such as Luxembourg and Cyprus, fearing that Brexit will hinder access to the EU's financial ...
Nissan First EU Tests of Self-Driving Car Begin in London
Guided by cameras and radars, and negotiating traffic and roundabouts, a self-driving Nissan car took to the streets of London on Monday for the Japanese company's first European tests of an ...
A Different View of America: Berkshire’s Buffett Trumpets Messages of Optimism
The annual letter to shareholders from Berkshire Hathaway's Chairman Warren Buffett seemed to have an underlying theme this year: Move over naysayers. Berkshire Hathaway's Chairman Warren Buffett ...
Third Point Re’s John Berger to Give Up CEO Slot, Remain as Board Chair
Third Point Reinsurance Chairman and Chief Executive Officer John Berger plans to step down as CEO on March 1. His designated replacement: Robert Bredahl, the reinsurer's president and chief ...