Finance News

RenaissanceRe Promotes Fraser and James in Finance Team

Bermuda-based RenaissanceRe Holdings Ltd. has announced several key leadership changes in its Finance function, effective Dec. 31, 2016. James (“Jamie”) C. Fraser has been named SVP, chief accounting officer, responsible for oversight of forecasting, planning and analysis; controls, financial reporting …

Hardy Pickering Promoted to Chief Financial Officer of Hamilton Re

Bermuda-based Hamilton Insurance Group, the holding company for insurance and reinsurance operations in Bermuda, the U.S. and at Lloyd’s, announced that Vanessa Hardy Pickering has been promoted to the position of chief financial officer of Hamilton Re. Hardy Pickering, who …

U.S. ‘Fiscal Cliff,’ Europe’s Debt Woes Worry G20

Leading world economies pressed the United States on Sunday to act decisively to avert a rush of spending cuts and tax hikes, warning that the so-called fiscal cliff is the biggest short-term threat to global growth. Unless a fractious Congress …

Low Interest Rates: an Ongoing Problem for the Re/insurance Industry

Swiss Re’s sigma report analyzing the effect on the insurance industry of the continuing low interest rates doesn’t paint a pretty picture. They have been at historic lows for several years. For instance the nominal yield on a 10-year U.S. …

India’s Basic Realities May Confound New Finance Minister’s Reform Agenda

The return of a pro-market reformer to India’s finance ministry has cheered investors and contributed to a market rally, but Palaniappan Chidambaram will need both political deftness and some luck to tackle the problems dragging the economy down. Faced with …

Allianz Expresses Concerns over Central Banks Role in Libor Scandal

Europe’s biggest insurer, Allianz SE, is worried about the role central banks may have played in an interest rate rigging scandal that has enveloped some leading international lenders, the insurer’s chief financial officer said on Friday. “We do not find …

Maybe Europe Should Abandon the Euro Says Canada’s Finance Minister

If European countries are not prepared to bail out fellow euro zone members, maybe they should just abandon the whole concept of a common currency, Canadian Finance Minister Jim Flaherty said on Monday in some of his most direct remarks …

Frank Crystal & Co. Establishes Art Finance Group

One of the country’s largest independent insurance brokerage firms has launched an art finance group to reflect the recognition of fine art and other collectibles as an alternative asset class. The New York-based Frank Crystal & Co. will help manage …