The cost of insuring Deutsche Bank’s debt against default rose around 8 percent on Friday after the U.S. Department of Justice asked the lender to pay $14 billion to settle an investigation into its selling of mortgage-backed securities. Data provider …
Most European Union states want to postpone new EU rules meant to protect investors in life insurance, funds and other retail financial products because parts of the reform might be misleading. In a joint statement, 23 of the 28 EU …
Catastrophe risk modeler AIR Worldwide has expanded the capabilities of its terrorism risk model to support scenario testing for the United States and 27 other countries to help companies assess the impact of different attack scenarios on their portfolios and …
Specialist lines underwriting agency CFC has appointed Margaret Murphy as Claims Director. Murphy joins the business from the New York law firm, Wilson Elser Moskowitz Edelman & Dicker LLP, where she was a partner. She has experience representing U.S. and …
Beazley announced that Christophe Paulin will join at the end of this month as an aviation underwriter, managing its aviation business in France and developing its aerospace/products portfolio worldwide. He will be based in Beazley’s Paris office following an initial …
Porsche Holding SE was caught up in the Volkswagen AG emissions debacle as investors raced to file German lawsuits ahead of the one-year anniversary of the scandal. A group of institutional investors filed a pair of lawsuits, seeking 2.8 billion …
The re/insurance industry needs to innovate and become more efficient. It is facing more risk, but premiums are declining. Some of its products have become shop-worn and less relevant. Competitive pressures are immense. These are just some of the negative …
Chubb has expanded its cyber risk engineering capabilities in the U.K. and Ireland, as it continues to invest in building its cyber enterprise risk management proposition in the region. Chubb’s U.K. and Ireland dedicated cyber risk engineering team, headed by …
Specialist insurer XL Catlin has agreed to acquire Australia’s Brooklyn Underwriting from Paul Hines. Brooklyn is an underwriting agency in Australia and a Lloyd’s approved coverholder, that has been operating in the Australian market for more than two decades, Brooklyn …
American International Group Inc. has agreed to sell its interest in Ascot Underwriting Holdings Ltd. (AUHL) and related syndicate-funding subsidiary Ascot Corporate Name Ltd. to Canada Pension Plan Investment Board (CPPIB) for $1.1 billion. Total consideration for the deal is …
