Global Economy
Post-Brexit Warning: Lloyd’s Chairman Says UK Risks Losing Insurers
Lloyd's of London and other insurers will be forced to move part of their businesses to the European Union if they fail to access the single market following Britain's decision in June to leave the ...
H1 Catastrophe Losses Are High, and Texas Endured Many of Them
Weather catastrophe activity slammed into 39 states during the 2016 first half. But in a six-month period where insured losses rose well above typical levels, Texas was by far the worst hit, ...
EU Passporting Could Be Crucial for Lloyd’s Market Position in Post-Brexit World
The UK's exit from the European Union, or "Brexit," could lead to a loss of business for Lloyd's of London unless the UK government is able to negotiate passporting arrangements to maintain access to ...
Now Australia Is Suing Volkswagen Over Alleged Emissions Fraud
The Australian consumer watchdog on Thursday said it had sued the Australian arm of world No. 2 carmaker Volkswagen AG for intentionally selling more than 57,000 vehicles with software which lied ...
Insurance Companies, Pension Funds Carve Out Large Piece of Currency Trading
Non-bank financial institutions like insurance companies, mutual funds and pension funds account for more than 50 percent of daily turnover in the currency market, a survey of the foreign exchange ...
Warren Buffett’s Railroad at Forefront of Commercial Drone Testing
Before some cutting-edge online retailer can use a drone to drop granola bars on your doorstep, a railroad born when Abe Lincoln was in Congress will first have to iron out the kinks. BNSF Railway ...
Typhoon Lionrock Makes Landfall at Notorious Japanese Location
Typhoon Lionrock made landfall in Japan the evening of Aug. 30, carrying the intensity of a Category 1 hurricane. It hit the same area where a massive earthquake and tsunami in 2011 caused death and ...
AIG’s Restructuring Efforts Earn Ratings Affirmation From Fitch
AIG ongoing focus on restructuring and deleveraging got a vote of confidence from Fitch Ratings. Fitch affirmed the insurer financial strength ratings of American International Group's ...