Global Economy
Executives On The Move at XL Catlin and Starr Companies
XL Catlin turns to emerging markets with the appointment of a new vice president focused on the growing sector. Starr Companies, meanwhile, named a new chief underwriting officer for financial lines. ...
AXA Restructuring: Execs May Slash 600 Insurance Jobs in Belgium
Axa SA is considering cutting 650 jobs in Belgium over the next two years, as Europe's second-largest insurer overhauls its range of products sold in the country. Axa Belgium has presented the plan ...
Negative Reinsurance Sector Outlook Not Changing Anytime Soon: A.M. Best
A.M. Best said its outlook for the reinsurance sector remains negative due to a multitude of factors, and it will likely stay that way for quite some time. "Our rating outlook remains longer-term ...
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 ...