News
India to Create Own Reinsurance Fund to Cover Refiners of Iran Oil
India plans to set up a fund of up to 20 billion rupees ($368.4 million) to back local insurers in offering cover to refiners who process Iranian crude, three government sources said, as sanctions ...
Fed Approves Process for Designating Nonbanks for Stricter Regulation
The U.S. Federal Reserve said on Wednesday that it had approved a final rule to clarify the process the new U.S. risk council will follow when it begins designating nonbank financial firms for ...
After several years in which much of P&C was focused on restoring rate adequacy and profitability, the market is finally...
New Deadly Bird Flu Has Scientists Worried About Pandemic Risk
Genetic sequence data on a deadly strain of bird flu previously unknown in people show the virus has already acquired some mutations that might make it more likely to cause a human pandemic, ...
Former Budget Chiefs Warn on Deficit But Disagree on Speed in Fixing
Two former U.S. budget chiefs who worked for presidents from opposing political parties said on Monday that the government should reduce military spending, scale back Social Security payments and end ...
Will Britain’s New Financial Regulatory Bodies Curb Excesses?
Britain launched its new system of financial supervision on Tuesday, hoping that two new regulators will succeed where a single one failed in preventing banking crises and protecting consumers from ...
Capital Wave Flows Into Re Market; Reinsurers Forced To Change
Willis Re reported this week that a wave of new capital—amounting to $35 billion—is currently flowing into the global reinsurance market, characterizing the capital market's activity as a "direct ...ACE Completes Acquisition of Mexican Surety Lines Company
ACE Limited has completed the acquisition of Fianzas Monterrey in Mexico from New York Life Insurance Co. for approximately $293 million in cash. Mexico City-based Fianzas Monterrey is Mexico's ...