Credit Suisse Plunged Into Chaos After Chairman Ousted for Breaching COVID Rules January 17, 2022 By Ambereen Choudhury and Patrick Winters The banker tasked with fixing Credit Suisse Group AG was ousted just nine months into the job for breaching COVID...
China’s Ant Group Reports 39% Rise in Profits on Investment Gains November 18, 2021 By Patrick Winters Ant Group Co.’s profit rose an estimated 39% in the June quarter, attributed to a gain in investments as billionaire...
Tokio Marine Faces Larger-Than-Expected Exposure to Greensill Capital Meltdown March 19, 2021 By Patrick Winters and Taiga Uranaka Tokio Marine Holdings Inc. is facing a larger-than-expected exposure to the Greensill Capital meltdown after finding that reinsurance contracts intended...
Credit Suisse Freezes More Supply Chain Finance Funds as Greensill Scandal Widens March 12, 2021 By Patrick Winters Credit Suisse Group AG froze four more funds that invested in the bank’s $10 billion supply chain finance strategy, adding...
Credit Suisse Shuts Humbolt Re and Kelvin Re After Investor Withdrawals December 10, 2020 By Patrick Winters and Marion Halftermeyer Credit Suisse Group AG is winding down two reinsurance vehicles with assets of about $2 billion after key investors moved...
Swiss Re, Zurich Insurance in Talks with Swiss Regulator About Coronavirus Impact March 20, 2020 By Patrick Winters Switzerland’s top insurance companies are in talks with the financial regulator about the impact of the coronavirus outbreak on their...
Zurich Sees Hardening Rates, Improving Terms – in Market Not Seen Since 2002 January 13, 2020 By Patrick Winters Zurich Insurance Group AG expects to have more power to increase commercial insurance rates than it has seen in almost...
Zurich Insurance Expects to Beat Targets as It Enters Final Stretch of Turnaround August 8, 2019 By Patrick Winters Zurich Insurance Group AG said it expects to beat all its financial targets for the 2017-2019 period as the global...
Boeing 737 Max Crashes Could Cost European Insurers $450 Million May 17, 2019 By Will Hadfield and Patrick Winters Europe’s biggest insurers are on the hook for as much as $450 million from a pair of airline crashes involving...
Swiss Re to Post ‘Large’ Q3 Losses from Italy Bridge Collapse, Natural Disasters October 18, 2018 By Ross Larsen and Patrick Winters Swiss Re AG said it will post relatively “large” losses from claims in the third quarter, as man-made disasters including...