Global Economy
Brexit Fallout: Beazley Seeks EU License For Irish Reinsurance Business
Lloyd's of London's Beazley Plc is working to get European insurance licenses for its Irish reinsurance business to allow it to operate throughout the European Union, even if Lloyd's loses access to ...
JPMorgan Will Fork Over $200M to Resolve Asia Hiring Probes
JPMorgan Chase and Co is expected to pay about $200 million to settle criminal and civil probes over its Asian hiring practices, according to a person familiar with the matter. A settlement, which ...
U.K. Insurers Accused of Not Supervising External Salespeople
The Financial Conduct Authority will write to chief executives of U.K. insurers after it found "widespread" evidence that companies are failing to supervise external salespeople. More than half of ...
Best Revises Lloyd’s Outlook to Stable from Positive on Difficult Business Conditions
A.M. Best has revised the outlooks to stable from positive of Lloyd's and Lloyd's Insurance Co. (China) Ltd., while at the same time affirming their financial strength rating (FSR) of A (Excellent) ...
Fintech Startup Gets German Banking License; Insurance Offerings Planned
N26, a Berlin startup that offers financial services directly to consumers, said Thursday it's received a German banking license that will let it offer a fuller range of products across Europe. The ...
Counts Reduced Against Group Charged in BP Oil Spill Fraud Case
A Texas lawyer and six co-defendants are now facing a reduced indictment of 73 charges, instead of 95, at federal trial on accusations that they faked more than 40,000 damage claims after the BP oil ...
The U.S. Accounted for Nearly Half of H1’s Global Insured Losses
Preliminary global economic losses reached US$98 billion during the first half of 2016, while global insured losses hit US$30 billion – their highest levels since 2011, according to Impact ...
The Latest Launches From BHSI, CNA, Everest, and Philadelphia Insurance Companies
Berkshire Hathaway Specialty Insurance debuted cyber liability coverage in Australia. Philadelphia Insurance Companies and UCPM will start offering storage tank pollution liability coverage. Both CNA ...