Westpac Banking Corp. agreed to pay A$113 million ($80.6 million) in penalties after the Australian regulator alleged the lender had widespread compliance failures that included charging dead people. The case includes a claim that Westpac charged more than A$10 million …
The controlling shareholders of Thai insurer Syn Mun Kong Insurance Pcl are exploring the sale of a majority stake in the firm and have picked several strategic players to advance into the next round of bidding, according to people familiar …
Definity Financial Corp., the 150-year-old insurer that held its initial public offering [on Nov. 17], will look to use its newfound access to capital to expand through acquisitions, the firm’s top executive said. Chief Executive Officer Rowan Saunders said the …
Moody’s Analytics has launched an asset-liability management (ALM) solution for insurance companies called of RiskIntegrity™ Investment Insight. The new tool combines data and modeling capabilities from across Moody’s Analytics to help insurers to build liability-aware investment portfolios and better evaluate …
This edition of International People Moves, covers two promotions at Chubb and a new hire at Hiscox. A summary of these appointments follows here. Chubb Promotes Rayan and Edey for Consumer Lines Distribution and Financial Lines, Respectively Chubb announced two …
European property/casualty insurers faced a dip in total average gross written premium and after-tax profit in 2020, but their regulatory solvency ratios remained strong. Pandemic factors generally played a role in both elements, according to a new AM Best market …
FRANKFURT – A prominent activist is calling on insurers like Swiss Re to explore suing major oil companies for climate-related damages, the latest volley in a years-long campaign that pits environmentalists against the insurance industry. The tactic urged by The …
SYDNEY/SINGAPORE – Some would-be travelers are considering canceling or delaying trip plans in response to fresh curbs prompted by the Omicron variant of the coronavirus, travel agents said on Monday, threatening an already fragile recovery for the global tourism industry. …
CALGARY, Alberta – Flood-stricken British Columbia is considering major upgrades to its highway network to make it more resilient to climate change risks, as the province starts reconstruction work after last week’s devastating floods. Upgrades would include building longer bridges …
Kettle, the San Francisco-based reinsurance startup that uses artificial intelligence to better protect people from the growing wildfire risks of climate change, announced it has been reinsuring homes during the 2021 wildfire season and that it raised a Series A …
