regulations News

Services Trade Talks Begin as WTO Seeks Way out of Stalemate

Countries representing 70 percent of the global economy are set to negotiate lower barriers to trade in services after agreeing the structure of a deal, Australian Trade Minister Craig Emerson said in an interview. The push for a deal on …

Big Brazil Health Insurance Deal May be Tough to Replicate

With a $4.9 billion takeover of Brazil’s biggest healthcare provider, UnitedHealth Group appears to have snatched the crown jewel in a market with plenty of promise but formidable barriers to entry for any foreign rivals looking to follow suit. UnitedHealth’s …

EU Insurers’ Capital Charges May be Cut to Boost Loans

Capital charges for insurers in the European Union could be cut to encourage lending for long-term projects and help boost the flagging economy, the bloc’s executive body said in a high profile policy shift. The European Commission has written to …

Best Reports on MENA Insurance Market; Regulatory Change Coming

A report from A.M. Best examines the current state of the insurance market in the Middle East and North Africa (MENA) region. It notes that “over the past decade, the insurance industry has experienced strong growth in terms of premiums. …

China Eases Access to Insurance, Travel industries

China has eased restrictions on foreign companies in parts of its insurance, travel and delivery industries in a possible effort to reverse a slide in investment from abroad, an American business group said Friday. Some of the measures were promised …

Re/insurers Increasingly Less Relevant to Global Economy: XL CEO McGavick

XL’s CEO Mike McGavick doesn’t mince words when it comes to looking at the big, and not very pretty, picture of the state of the re/insurance industry. Address emerging risks, innovate, create new products and provide potential insurance buyers with …

PCI Urges Rapid Progress on Trans-Pacific Free Trade Agreement

AIA Comments on Latest IAIS Draft Rules on Global Insurance Supervision

The American Insurance Association has submitted comments in response to the International Association of Insurance Supervisors’ (IAIS) July 2, 2012 Public Consultation Document entitled “Working Draft of the Common Framework for the Supervision of Internationally Active Insurance Groups” referred to …

UK Banks Face Rules to Curb Payment Protection Insurance Mis-selling

UK banks face new rules to stamp out sales incentives that have encouraged mis-selling of financial products going back two decades, the Financial Services Authority said on Wednesday. UK banks have been hit by a series of scandals in the …

UK Bank May Have Hidden $250 Billion in Iran Deals; May Lose U.S. License

New York’s top bank regulator threatened to strip Standard Chartered Plc of its state banking license, saying the British bank was a “rogue institution” that hid $250 billion in transactions tied to Iran, in violation of U.S. law. The New …