Insurance
Generali Prepares to Sell Pensionskasse Unit to Fosun International’s German Unit
Assicurazioni Generali SpA is close to selling its Deutschland Pensionskasse AG unit to a German firm controlled by Chinese conglomerate Fosun International Ltd, as the Italian insurer reviews its life operations in a bid to improve profitability. Generali is preparing …
Read More People Moves: AIG Asia Pacific Appoints BHSI’s Colahan as Regional President; Gallagher Re Hires McMillan From Siemens as Renewable Energy Practice Leader
This edition of International People Moves details appointments at AIG Asia Pacific and Gallagher Re. A summary of these new hires follows here. AIG Appoints BHSI’s Colahan as Regional President, AIG Asia Pacific American International Group Inc. announced that Chris …
Read More Germany Inches Toward Legalizing Personal Use of Cannabis
Germany’s ruling coalition presented a scaled-back plan to decriminalize personal use of cannabis in Europe’s largest economy. The proposal would allow adults to possess as much as 25 grams (0.9 ounce) of marijuana and join nonprofit “social clubs” to purchase …
Read More UK Broker Clear Group Acquires Irish Broker MBC Insurance
The Clear Group, the London-based independent broker, announced the acquisition of Irish commercial broker McAuliffe Barry & Collins Ltd., which trades as MBC Insurance and Techinsure.ie. Clear has acquired 100% of MBC Insurance. Financial details of the deal were not …
Read More Markets/Coverages: Apollo Forms ICX Consortium to Drive Insurance Industry Innovation
Apollo, the London-based independent specialist re/insurer, announced its new ICX Consortium through its “Apollo ibott 1971” division, which provides data-driven embedded insurance solutions for the fast-growing digital economy. Apollo plans to deploy meaningful lead capacity through the consortium which will …
Read More Australia’s Iron Ore Export Hub Braces for Powerful Cyclone Ilsa
Australia’s northwest region, home to the world’s largest iron ore export hub, was bracing on Thursday for the area’s most powerful tropical cyclone in a decade, as a major port closed and residents rushed to stock up on essential supplies. …
Read More Kremlin Warns Outlook for Extending Black Sea Grain Deal Is ‘Not so Great’
The Kremlin warned on Wednesday that the outlook for extending a deal beyond May 18 that allows the safe wartime export of grain and fertilizer from several Ukrainian Black Sea ports was not great as Russia’s own such exports still …
Read More Juul to Pay $462 Million to Six States, D.C. Over Youth Addiction Claims
E-cigarette maker Juul Labs Inc agreed on Wednesday to pay $462 million over eight years to settle claims by six U.S. states including New York and California, along with the District of Columbia, that it unlawfully marketed its addictive products …
Read More Trump Sues Ex-Lawyer Michael Cohen Over Alleged Breaches of Contract
Former President Donald Trump filed a $500 million lawsuit against his former attorney Michael Cohen for allegedly violating their attorney-client bond and spreading “embarrassing or detrimental” lies. Cohen, whose falling out with Trump has led to exchanges of insults between …
Read More SVB Failed From Mismanagement, Not Loose Regulations: FDIC
Management failures, not loose regulations, prompted Silicon Valley Bank’s sudden failure last month, a top Federal Deposit Insurance Corporation (FDIC) official said on Wednesday. “Mismanagement of interest rate risk was at the core of SVB’s problem,” FDIC Vice Chairman Travis …
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