Global banks will have to vet all customers for terrorism links as part of a crackdown on money laundering and criminal finance. Terrorist screening “should be carried out irrespective of the risk profile attributed to the customer,” the Basel Committee …
Companies operating major crude oil pipelines in Canada will be required to have C$1 billion ($954.97 million) available to fund clean ups from any spills, the Canadian government said on Wednesday. Joe Oliver, Canada’s minister of natural resources, also announced …
Rolls-Royce Plc repeatedly failed to identify a defect that caused one of its engines to explode on a Qantas Airways Ltd aircraft carrying more than 400 people over Indonesia three years ago, an Australian safety regulator found. In its final …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Bermuda-based Associated Electric & Gas Insurance Services Limited (AEGIS), and has assigned both ratings a positive outlook. Best said the rating …
Shale has killed climate policy. Now the International Energy Agency (IEA) is trying to bring it back to life. Following the shale revolution, policymakers can no longer count on peaking oil and gas supplies and soaring fuel prices to save …
Swiss Re’s latest sigma study reveals that “total global premiums written increased by 2.4 percent in real terms in 2012 to $4.613 trillion. Life premiums expanded by 2.3 percent unwinding some of the contraction in 2011, thanks to improvements in …
Aon Benfield Analytics’ Market Analysis team has released its latest Lloyd’s Update report, covering the market’s 2012 financial results and business position in 2013 The report highlights the following “key findings: — Lloyd’s reported a pre-tax profit of £2.8 billion …
The ACE Group has expanded its international surety capabilities in Continental Europe, by launching services in France and making a new executive appointment to lead this initiative. Aymeric Vinet Desrues joins ACE as surety underwriting manager, France, where he will …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1225, which is managed by AEGIS Managing Agency Limited. The outlook for both …
XL Group plc announced that the Company has appointed Philip M. Jacobs as Global Head of Capital Management, Corporate Development and Tax. He reports to Peter R. Porrino, Executive VP and CFO, and will be based in Stamford, Connecticut. Porrino …
