Hong Kong-based insurer AIA Group has entered into an agreement to buy the wholly-owned life insurance unit of Bank of East Asia (BEA) and has signed a 15-year distribution partnership with the lender for a total of about $650 million. …
Britain launched a public consultation on Wednesday on proposals to require large companies as soon as 2022 to disclose the financial risks they face from climate change. The business ministry said disclosures should be in line with recommendations from the …
PARIS – Reporters Without Borders (RSF) has filed a lawsuit against Facebook in France over hate speech and false information, the global media watchdog said in a statement on Tuesday. RSF said that in a lawsuit filed with the public …
Lloyd’s has launched a parametric earthquake insurance policy in New Zealand, in partnership with start-up Bounce Insurance, which uses cutting-edge technology and real-time data to automatically pay customers within five days of a strong earthquake. The new product, also called …
The City of London may be better off staying out of the EU’s financial services market as it would have to sacrifice autonomy over setting rules to win full access, a report by Britain’s upper house of parliament said on …
MADRID – Spanish bank Bankinter said on Tuesday it cleared all regulatory hurdles to spin off its insurance unit Linea Directa and list its shares on the market in late April. Bankinter, which has secured the European Central Bank’s approval …
Most of the insurers that provided Steinhoff International Holdings NV with director-liability policies have agreed to pay as much as 78.1 million euros ($93 million) toward legal settlements resulting from a 2017 accounting crisis. The bulk of the money will …
The Danish Red Cross is offering the world’s first catastrophe bond for volcanic eruptions, which is designed to improve the provision and efficiency of humanitarian relief after eruptions of 10 volcanoes across three continents. The cat bond aims to raise …
TOKYO – Japanese insurer Tokio Marine Holdings Inc said on Tuesday it currently expects no material impact on its results for the fiscal year starting next month as a result of its exposure to the fallout of Greensill Capital’s collapse. …
A Swiss cyber-security firm says it has accessed servers used by a hacking group tied to the SolarWinds breach, revealing details about who the attackers targeted and how they carried out their operation. The firm, PRODAFT, also said the hackers …
