Articles by Carolyn Cohn

Europe’s New Data Privacy Law Boosts Cyber Insurance Sales

Data privacy rules coming into force this week are giving Europe’s fledgling cyber insurance market a boost as they make companies more aware of the risks caused by customer information breaches. Europe’s General Data Protection Regulation (GDPR), which takes effect …

Global Insurers Reassessing Iran Business In Light of Sanctions Threat

Global insurers are taking stock of how the U.S. withdrawal from an international agreement to deny Tehran nuclear weapons, and threatened sanctions against companies that do business with Iran, could affect them. Insurance broker Arthur J. Gallagher & Co. said …

Zurich Insurance CFO: ‘We Don’t Exist to Do M&A’

Zurich Insurance has no plans for a big merger, it said on Wednesday, despite speculation of a pick-up in dealmaking in the industry and that the Swiss company could get involved. The insurer’s comments came as it beat analysts’ forecasts …

Insurers Advance Post-Brexit Hub Plans Despite Promises of Transition

Lloyd’s of London, AIG, Allianz and other insurers are ignoring assurances and establishing new hubs in Britain and the European Union before Brexit in March 2019 to ensure access to customers. The moves come despite a “standstill” transition agreement struck …

Global Insurers Favor Private Equity Investments

Thirty-two percent of insurers plan to maintain or increase their investments in private equity in the next 12 months to boost returns, a survey of 300 executives overseeing more than $10 trillion in insurance assets showed on Tuesday. Insurers have …

Brexit Effect: Fewer UK Financial Services Jobs Expected to Shift to EU, Says Reuters

The number of finance jobs to be shifted out of Britain or created overseas by March 2019 due to Brexit has dropped by half compared to six months ago to 5,000 roles, firms employing the bulk of UK-based workers in …

Avoiding Post-Brexit Chaos in Insurance Market Is Top Concern of Bank of England

Avoiding chaos in the insurance market due to Britain’s European Union exit is a top Bank of England priority and making sure cross-border contracts continue to pay out after Brexit is a major concern, its deputy governor Sam Woods said. …

UK Invests in Natural Disaster Hedge Fund Focused on Insurance for Developing Nations

Britain is backing a hedge fund that aims to raise $200 million to give developing countries access to climate risk insurance. Britain’s Department for International Development (DFID) is investing 25 million pounds ($35 million) over a 20-year period in the …

UK’s RSA Insurance Posts Above-Forecast Profit of $920.2M in 2017

Even higher payouts for RSA shareholders are likely in 2018, chief executive Stephen Hester said on Thursday after the company posted an above-forecast 2017 operating profit and boosted its dividend by 23 percent. Analysts had been looking for a special …

North-South Korea Tensions, Cyber Threats Worry Insurers of Olympics

If South Korea’s Winter Olympics go off without a hitch this month, organizers will not be alone in toasting success. Their insurers will also be celebrating a tidy profit. The Games are being staged about two hours’ drive from one …