International News

London Financial Industry Welcomes Brexit Breakthrough but Won’t Alter EU Plans

London’s financial industry welcomed progress on a divorce deal with the European Union on Friday but said it saw little reason to alter preparations for when Britain leaves the EU. The agreement on Friday paves the way for arduous trade …

Aspen Appoints Schick from Maybank as Group Chief Operating Officer

Aspen Insurance Holdings Ltd. announced that David Schick has been appointed group chief operating officer. Schick joins Aspen from Maybank where he was executive vice president, Group Strategy and Transformation, and director of Strategic Operational Excellence. At Maybank, he was …

Cyber Criminals Steal $64M of Bitcoin From Cryptocurrency Firm NiceHash

A Slovenian cryptocurrency mining marketplace, NiceHash, said it lost about $64 million worth of bitcoin in a hack of its payment system, the latest incident to highlight risks that uneven oversight and security pose to booming digital currencies. NiceHash matches …

Brit Ltd. to Relocate Gibraltar-Based Reinsurer to Bermuda

Brit Ltd. announced it is relocating its Gibraltar-based reinsurer, Brit Insurance (Gibraltar) PCC Ltd., to Bermuda. The process is expected to be completed by the end of the year, following which Brit Insurance (Gibraltar) will be renamed Brit Reinsurance (Bermuda) …

Swiss Re Appoints Dacey as CFO, Succeeding Cole in April 2018

Swiss Re announced that John Dacey, currently group chief strategy officer, has been appointed group chief financial officer, effective April 1, 2018. He succeeds David Cole, who will step down to pursue a non-executive career, while remaining a board member …

Kobe Steel Hit with Lawsuits Over Data Tampering Scandal

Kobe Steel Ltd. said on Friday it has been hit with lawsuits over its data tampering scandal and has had two more badges of industrial quality removed, the latest setbacks for the Japanese steelmaker as it seeks to restore its …

Australia’s IAG Forms Capital-Releasing Deals with Munich Re, Swiss Re, Hannover Re

Insurance Australia Group Ltd. said on Friday it will share 12.5 percent of its premiums and costs with Munich Re, Swiss Re and Hannover Re, in a series of deals that will release capital for Australia’s biggest general insurer. The …

UK, EU Agree to Brexit Divorce Deal, Paving Way for Next Stage of Talks on Trade

Britain and the European Union struck a divorce deal on Friday that paves the way for arduous talks on future trade ties, easing immediate pressure on Prime Minister Theresa May and boosting hopes of an orderly Brexit. May rushed to …

China’s Ping An Insurance Now Second Largest Shareholder in Britain’s HSBC Bank

HSBC has a three-year head start on its foreign investment banking rivals in China because of the British bank’s unique position of having management control of its securities venture there, chief executive Stuart Gulliver said on Thursday. Gulliver’s comments come …

Global Temperatures Could Rise 15% More Than Expected: Scientists

World temperatures could rise 15 percent more than expected this century, obliging governments to make deeper cuts in greenhouse gas emissions to limit global warming, scientists said on Wednesday. Average surface temperatures could increase up to 0.5 degree Celsius (0.9 …

International News Archives by Month