Global Economy
BP Will Settle $175M in Oil Spill-Related Shareholder Claims
BP Plc agreed on Thursday to pay $175 million to shareholders who brought a class-action lawsuit that accused the oil company of misleading them by understating the severity of the 2010 oil spill in ...
A British EU Exit Could Kill 34,000 London Jobs, IUA Warns
A British exit from the European Union would cause grave damage to the London market and the loss of thousands of jobs, according to a position paper from the International Underwriting Association ...
Eastern Canadian Province Slaps 15% Sales Tax on Insurance Policies
The eastern Canadian province of Newfoundland and Labrador is imposing a new 15 percent retail sales tax on home, auto and business insurance policies. Effective July 1, 2016, all new or renewing ...
France’s AXA Unloads SunLife Arm, Reveals New Management Team
AXA SA sold its SunLife unit in the U.K. to Phoenix Group Holdings and announced the top-management team that will work with incoming Chief Executive Officer Thomas Buberl when he takes the helm in ...
In China, Mutual Insurance Companies Are Slow to Start
China's attempt to spur the launch of mutual insurance companies has gotten off to a very slow start. Approximately 18 months after issuing regulations intended to spur growth of mutual insurers, ...
Arab Bank Settlement Over Militant Attacks Linked to U.S. appeal
Arab Bank Plc's agreement to settle litigation brought by Americans who accused it of facilitating militant attacks in Israel is linked to the outcome of an appeal of a jury's 2014 verdict finding it ...
Emerging Risks to Watch: Neutraceuticals, a Fragmented Internet and Blockchain Challenges
A fragmented Internet, continued experimentation with monetary policy and another round of economic crises in emerging markets top Swiss Re's latest roundup of emerging risks to watch out for. Beyond ...
Executives On The Move at Everest Re, Beazley and Ironshore
A former AIG executive will lead a new business unit at Everest Re. Beazley is expanding its U.S. environmental liability insurance team with a number of new executive hires. Ironshore promoted a ...