The Cardif insurance division of BNP Paribas, France’s largest bank, on Monday outlined new targets to reduce its exposure to coal as companies around the world step up fossil fuel divestment plans to improve the environment. Cardif, which has already …
Italian insurer Generali Group has acquired CM Investment Solutions Limited (CMISL), an alternative asset manager in London, from Bank of America Merrill Lynch. Details of the transaction were not disclosed. CMISL, which was established in 2007, has grown to become …
Macquarie Group Ltd. is in advanced talks to create a majority-owned securities joint-venture firm in China, according to people familiar with the matter, the latest international bank seeking to establish itself in one of the world’s biggest markets. Sydney-based Macquarie …
Generali has entered into an agreement with the German Group Union Asset Management Holding AG to acquire a 100 percent stake in the Polish asset management company Union Investment TFI S.A. Financial details of the acquisition were not revealed. The …
Munich Re, the world’s biggest reinsurer, will stop investing in bonds and shares of companies that generate more than 30 percent of their sales with coal-related business, its chief executive said, caving to pressure from investors. “In the individual risk …
Swiss Re announced it no longer is providing re/insurance to businesses with more than 30 percent exposure to thermal coal across all lines of business. The thermal coal policy applies to both existing and new thermal coal mines and power …
China’s central bank on Friday issued sweeping guidelines to tighten rules on asset management business, the latest step by Beijing to fend off systemic risks in the country’s rampantly growing shadow banking sector. The guidelines unified rules covering asset management …
Efforts to get insurers to plug Europe’s investment gap by backing riskier assets could be undermined if banks are unwilling to share crucial credit data with them, a European Union insurance regulator said. EU insurance capital rules known as Solvency …
Insurers have pulled $20 billion out of coal investments, but most are European and none of the top nine U.S. insurers has taken “meaningful action,” campaign group Unfriend Coal said on Wednesday. Government representatives and officials at this week’s U.N. …
French insurer AXA has been approached by a number of players interested in doing a deal with its asset management arm, but continues to regard the business as a strategic asset, the unit’s chief executive said in an email to …
