BRASILIA – A regional labor judge has ordered Brazilian miner Vale SA to pay 1 million reais ($197,240) in compensation to each of the families of 131 employees killed in the collapse of a mining dam in 2019. The disaster …
A failed oil trader in Singapore that owes creditors more than $3.5 billion is suing Deloitte & Touche LLP, alleging the auditing firm failed to detect “serious irregularities” in its financial statements for more than a decade. Deloitte audited the …
This wrap-up of international People Moves details recent appointments at three London-based brokers: BMS, Incepta (a subsidiary of Goldman Sachs-backed Aston Lark), and Oneglobal Broking. A summary of these new hires follows here. BMS, the London-based specialist insurance and reinsurance …
AXA has offered a settlement to 15,000 French restaurant owners that purchased non-damage business interruption insurance after previously denying coverage during the 2020 COVID-19 lockdowns. AXA estimates the cost of these settlements will be approximately €300 million (US$365.5 million) before …
Denmark’s central bank warned rising waters pose a threat to the financial system as property used as collateral against bank loans may be worthless in coming years, amid increasing damage by climate change to the country’s 5,000 mile-long coastline. Flood …
FRANKFURT — Volkswagen said on Wednesday it had agreed to settle claims against four former executives, including long-time CEO Martin Winterkorn, that will see the carmaker receive 288 million euros ($351 million) in compensation related to its emissions scandal. The …
BEIJING — China’s banking and insurance watchdog issued rules on Wednesday requiring sizable banks and insurers to prepare recovery plans in the unlikely event that they run into financial trouble, as the regulator seeks to strengthen the safety net of …
Tokio Marine HCC has reaffirmed its commitment to the international contingency market with the appointment of a new lead for its London market and European operations. Neil Paddon, head of Contingency who has been with Tokio Marine HCC – Specialty …
This wrap-up of international People Moves details appointments at Liberty Specialty Markets Bermuda and Hiscox UK. A summary of these new hires follows here. Liberty Specialty Markets Bermuda (LSM Bermuda), part of Liberty Mutual Insurance, has appointed Nicholas Garside to …
Swedish activist investor Cevian Capital AB has bought almost 5% of Aviva Plc, placing it among the insurer’s top three holders. Christer Gardell, managing partner at Cevian, said the Stockholm-based investor now holds 4.95% of Aviva after purchasing almost 195 …
