International
July Hailstorms in Germany Could Cost $2B: AIR Worldwide
Losses for the severe hailstorms that hit Germany in late July are estimated to be as high as $2 billion, making it one of the 10 costliest natural disasters in German history, according to ...
Zurich Mourns the Death of Group CFO Wauthier
Zurich Insurance Group released a statement saying that the company is in mourning following the death of its Group CFO, Pierre Wauthier, whose body was found at his home on Monday morning. The ...
AIG Said to Plan $300 Million RMBS Sale, Loan Shift in Bank Exit
American International Group Inc. plans to sell about $300 million in residential mortgage-backed securities from the bank it's winding down, according to a person familiar with the matter. About ...
Malaysia’s Shariah Scholars Face Jail for Bank, Insurer Breaches
The Malaysian law that exposes Shariah scholars to jail terms for rule breaches will ensure tighter compliance, in a market where the regulator has already made progress in unifying standards. Under ...
Brazilian Insurer’s IPO, World’s Largest, Beating All Peers, Still Rallying
BB Seguridade SA, the Brazilian insurer that held the world's largest initial public offering this year, is outperforming every other IPO from an emerging- market financial company this year. The ...
White Mountains Offers $308 Million for Entire IDB Stake in Clal
White Mountains Insurance Group Ltd. offered to pay 1.1 billion shekels ($308 million) for IDB Development Corp.'s 55 percent interest in Clal Insurance Enterprises Holdings Ltd. The offer will ...
U.K. Banks to Pay $2.4 Billion to Settle Insurance Mis-Selling: Sources
Britain's biggest banks are close to an agreement with regulators to pay as much as 1.5 billion pounds ($2.4 billion) to compensate customers wrongly sold insurance for credit-card and identity ...
SEC’s JPMorgan China Probe Threatens Cozy Tradition of ‘Client Hires’
The U.S. government's bribery investigation into JPMorgan's employment of at least two Chinese bankers has prompted banks and other corporations across the globe to take a close look at their hiring ...