International
Hard Market Will Come; Question Is When, Swiss Re Says
In its latest sigma report forecasting profits and premium growth for insurers over the next two years, Swiss Re says the eventuality of a hard market is a given—it's just a matter of when. ...
British Insurers to Invest $41B in Infrastructure
The U.K.'s largest insurance companies will invest 25 billion pounds ($41 billion) in infrastructure, the government announced as it prepares to publish new plans for projects from energy and ...
Greece, BlackBerry: ‘Cautious’ Bets for Fairfax Financial’s Watsa
Bets on debt-ravaged Greece or ailing phone maker BlackBerry would make many investors flee, but for Prem Watsa both are part of a "cautious" strategy he employs to manage Fairfax Financial's $23.3 ...
EU Commission Fines Banks $2.3B for Benchmark Rigging
EU antitrust regulators fined six financial institutions including Deutsche Bank, Royal Bank of Scotland and Citigroup a record total of 1.71 billion euros ($2.3 billion) on Wednesday for rigging ...
In Cost Cutting Move, Zurich Insurance Lays Off 53 in Middle East
Zurich Insurance Group AG, Switzerland's biggest insurer, fired 53 people across its general insurance operations in the Middle East as part of cost- cutting plans. "Fifty-three people were made ...
EU Watchdog Sees Failings in Sovereign Debt Ratings Process
The "Big Three" agencies that rate European Union government debt could be fined after failing to fix poor practices from the past, the sector's regulator said on Monday. Credit ratings are a key ...
Willis, Endurance Cover Australia Mining Firm in Index-Based Weather Deal
Willis Group Holdings announced on Tuesday that it designed and placed a derivative-based risk transfer solution to protect against construction delays on an Australian project from cyclone and heavy ...
Zurich Insurance Seeks to Boost Investor Confidence, May Lower Target
Zurich Insurance Group AG Chief Executive Officer Martin Senn will probably reduce a profitability target after Switzerland's biggest insurer said it may struggle to meet some goals set in 2010. ...