AIA Group Ltd. said it’s paring coal-related investment as financial firms globally face pressure to reduce their carbon assets. The Hong Kong-based insurer said it decided to end all direct equity investments in coal mining and coal-fired power producers earlier …
Established insurers will face a squeeze on profits and market share as new financial technology companies muscle in on the industry, a senior European Union official said on Wednesday. More fintech firms are expected to offer insurance, helped by the …
Private equity investors Pelican Ventures and J.C. Flowers & Co. have completed their acquisition of Ariel Re from Argo Group. Ariel Re underwrites a global portfolio of reinsurance products in Bermuda, London and Hong Kong through its Lloyd’s platform. Under …
Global broking business Brokerslink has launched a dedicated international insurance programme management platform to drive the continued growth and digitalization of its international portfolio across the organisation’s broker network. Called Space B IPA (International Programme Administration), the platform has been …
British roadside recovery company AA Plc agreed a sale to private equity groups Warburg Pincus International and TowerBrook Capital Partners on Wednesday, in a deal that digs a popular UK institution out of financial problems deepened by the coronavirus pandemic. …
The head of the European Union’s executive on Wednesday reported “genuine progress” in Brexit talks but said the risk of Britain leaving the EU without a new trade deal on Dec. 31 remained, an outcome she said the bloc was …
Third Point Reinsurance Ltd. and Sirius International Insurance Group Ltd. announced that their respective shareholders have voted to approve the merger of the two companies. Specialty reinsurer Third Point Re, and Sirius International Insurance Group, a multi-line insurer and reinsuer, …
Reinsurance rates are likely to rise in the double-digit percentage point range at key contract renewals in January, Denis Kessler, chairman and chief executive of the French reinsurer SCOR, said on Wednesday. SCOR, one of the world’s largest reinsurers, has …
TOKYO – Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping the world, participants at Asia’s biggest gathering of the coal industry said on Tuesday. The …
Bank of England Governor Andrew Bailey said on Monday a no-deal Brexit would cause longer-term damage to Britain’s economy than the COVID-19 pandemic, and the impact of the change might be felt for decades. “Well, I think the long-term effects …
