The head of the European Union’s executive on Wednesday reported “genuine progress” in Brexit talks but said the risk of Britain leaving the EU without a new trade deal on Dec. 31 remained, an outcome she said the bloc was …
Private equity investors Pelican Ventures and J.C. Flowers & Co. have completed their acquisition of Ariel Re from Argo Group. Ariel Re underwrites a global portfolio of reinsurance products in Bermuda, London and Hong Kong through its Lloyd’s platform. Under …
Established insurers will face a squeeze on profits and market share as new financial technology companies muscle in on the industry, a senior European Union official said on Wednesday. More fintech firms are expected to offer insurance, helped by the …
AIA Group Ltd. said it’s paring coal-related investment as financial firms globally face pressure to reduce their carbon assets. The Hong Kong-based insurer said it decided to end all direct equity investments in coal mining and coal-fired power producers earlier …
Aviva Plc is selling its stake in its Italian life insurance joint venture for about 400 million euros ($475 million) as Chief Executive Officer Amanda Blanc continues her revamp of the firm. The insurer will sell its 80% holding in …
Cigna Corp.’s chief executive officer and board used “black-ops style” tactics in a covert campaign to “blow up” a $48 billion merger with rival insurer Anthem Inc., Cigna investors claim in a lawsuit. A Massachusetts-based pension fund alleges that Cigna …
Global airline lobby IATA is working on a mobile app that will help travelers demonstrate their coronavirus-free status, joining a push to introduce so-called COVID passports to speed up the revival of international travel. The Travel Pass will display test …
Carnival Corp.’s Princess Cruise Lines Ltd. failed to persuade a judge to dismiss negligence claims by 17 passengers who allege they suffered COVID-19 symptoms after being exposed to the coronavirus on a February voyage. Monday’s ruling doesn’t address the merits …
TOKYO – Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping the world, participants at Asia’s biggest gathering of the coal industry said on Tuesday. The …
A 230-meter tall wind turbine built by Vestas Wind Systems A/S collapsed at a site in northern Sweden over the weekend. The cause of the accident is unknown and the company is assembling a team that will investigate at the …