Credit Suisse to Pay $234M to Settle French Tax, Money Laundering Case October 24, 2022 By Tangi Salaun Credit Suisse agreed to pay France 238 million euros ($234 million) to settle a tax fraud and money laundering case...
Everest Insurance Launches Branches in France and Germany October 24, 2022 Everest Insurance, the insurance division of Everest Re Group Ltd., announced its further expansion into the European market with the...
India’s Reliance Industries to Create Financial Services Unit for Its Consumer Businesses October 24, 2022 By P R Sanjai and Dhwani Pandya Reliance Industries Ltd., will create a financial services unit to feed its consumer businesses that are contributing an increasing share...
Climate Change at Top of Insurers’ Concerns, Followed by War-Related Risks October 24, 2022 By Alexandre Rajbhandari Climate change remains at the top of insurance companies’ biggest concerns even as Russia’s invasion of Ukraine stokes geopolitical and...
Munich Re Estimates $1.6 Billion Hit From Hurricane Ian Could Affect 2022 Targets October 21, 2022 By Stephan Kahl Munich Re said it will probably take a hit of about 1.6 billion euros ($1.6 billion) after hurricane Ian led...
People Moves: SCOR Taps AXA XL’s Guest as Head of Crisis Mgmt; Former Beazley Exec Beattie Joins CFC as Head of Innovation; Allianz Trade Appoints New CEO October 21, 2022 This edition of International People Moves details appointments at SCOR UK, CFC Underwriting, and Allianz Trade. A summary of these...
Amazon Faces $1 Billion UK Class-Action Lawsuit Over Use of ‘Secretive’ Algorithm October 21, 2022 By Katharine Gemmell Amazon.com Inc. faces a UK class-action lawsuit over claims the tech giant uses a “secretive” algorithm to abuse its dominant...
Volkswagen Sued for Not Disclosing Alleged Private Climate Lobbying Activities October 21, 2022 Volkswagen AG was sued by institutional investors in Germany concerned that despite making public commitments to fighting climate change, the...
Ukraine Insurance Pricier, Harder to Organize Than During Iraq War: Sources October 21, 2022 By Carolyn Cohn and Noor Zainab Hussain Insurance for humanitarian workers, journalists, engineers and others heading to Ukraine is now more expensive and harder to organize than...
Taiwan’s Watchdog Says Insurers Have Enough Capital to Withstand COVID Claim Surge October 21, 2022 By Cindy Wang, Argin Chang and Krystal Chia Taiwan’s insurance industry has buffered itself against surging COVID claims after raising capital, the head of the island’s market regulator...