Global Economy
RSA Backs $9.6B Takeover Offer From Overseas Rivals
British insurance group RSA is backing a 7.2 billion pound ($9.55 billion) cash offer from Canada's Intact Financial and Denmark's Tryg in one of Europe's biggest financial takeover bids this year. ...
Buffett’s Berkshire Hathaway Bets on Big Pharma
Warren Buffett's Berkshire Hathaway Inc said on Monday it has begun investing in the stocks of four large drugmakers, betting on an industry that could benefit when the world begins emerging from the ...
Zywave Snatches Up Advisen in Move to Accelerate Global Growth
Insurance technology company Zywave snatched up Advisen, a global insurance data provider, in a deal expected to fuel more rapid international growth. The acquisition includes WCL, a UK-based Advisen ...
AXA Fights Order to Pay Millions of Euros in Back Taxes: Report
AXA SA was ordered to pay tens of millions of euros in back taxes last year after French fiscal authorities deemed a Luxembourg-based structure was improperly used to avoid tax payments in France, ...
Insurers Make UK Case for Limiting Pandemic Business Interruption Cover
Major insurance companies told the UK Supreme Court on Monday it was wrong to assume there could be unlimited cover during a pandemic in an appeal closely watched by thousands of British businesses ...
Fed Edges Closer to Joining Global Peers in Climate Change Risk Reduction Efforts
The Federal Reserve is moving closer to joining an international group of central bankers working to understand and reduce climate change risk, paving the way for the world's most influential central ...
COVID-19 Driving Huge Claims Hike in U.S. Professional Liability Market: A.M. Best
The COVID-19 pandemic is creating varying levels of disruption for writers in the U.S. professional liability insurance market, with many expecting a sizable increase in claims, according to a new AM ...
Insurers Targeted by U.S. Sanctions Over Nord Stream 2 Pipeline
The U.S. is drawing up additional sanctions on the Nord Stream 2 natural gas pipeline project, the latest obstacle in the path of the 9.5 billion-euro ($11.2 billion) Russia-to-Germany link that's ...