Markets
Bank of England Urges Insurers, Financial Institutions to Form Credible Climate Change Plans
Britain's banks and insurers must come up with credible plans for protecting themselves against risks from climate change and may need to hold more capital, the Bank of England said on Monday. ...
Report: China Encourages Its Insurers to Help Address Share-Backed Loan Risks
China is encouraging insurers to invest in listed companies and help cut liquidity risks connected with the pledging of firms' shares to secure loans, the China Securities Journal reported on ...
Wasted Opportunity for Reinsurers?
There is a recurring observation that Adrian Jones and Matteo Carbone have included in all of the articles about financial results they have written this year: Reinsurers are paying much of the ...
Philippines Explores Plan to Sponsor Catastrophe Bond Issue
The Philippines' finance ministry said on Sunday it was exploring a plan to sponsor a catastrophe bond issue, similar to the one launched by the World Bank early this year covering Latin American ...
$25 Billion: Estimated Economic Losses Caused by Hurricane Michael
Hurricane Michael will probably end up causing at least $25 billion in economic losses. About $3 billion of that will fall on the federal flood insurance program and private insurers may get hit with ...
J&J Cleared by Jury of Liability in Talc Cancer Case
A New Jersey jury on Thursday cleared Johnson & Johnson of liability in a case involving a woman who alleged that the company's talc-based products, including its baby powder, contain asbestos ...
FEMA Chief Calls for a Natural Disaster Preparation Focus on Insurance and ‘Resilience’
Federal Emergency Management Agency Administrator Brock Long angrily criticized the failure of citizens to heed evacuation warnings and leaders to better prepare for natural disasters such as ...
Cincinnati Financial Will Pay $134M for London Specialty Underwriter Owned by Munich Re
Cincinnati Financial Corp. has agreed to acquire MSP Underwriting Limited, a London-based global specialty underwriter and Munich Re subsidiary, in a bid to diversify its earnings and expand its ...