Britain’s lawmakers launched an inquiry on Friday aimed at ensuring its financial services remain globally competitive after the country’s full departure from the European Union next month. “We’ll make a series of recommendations for how the government, public bodies and …
The European Union warned that the UK hasn’t moved sufficiently to overcome the three main obstacles to a post-Brexit trade deal as three of the bloc’s leaders called for contingency plans to be stepped up in case one isn’t reached. …
Global insurance losses from the COVID-19 pandemic will be higher this year than the $107 billion Lloyd’s of London had previously estimated, its Chairman Bruce Carnegie-Brown said on Wednesday. Carnegie-Brown told the Reuters Events Future of Insurance USA conference that …
After a decade of buying up rivals to become Canada’s largest property and casualty insurer, Intact Financial Corp. is looking across the Atlantic with its biggest deal yet. Intact sealed an agreement Wednesday to buy the Canada, UK and international …
Italy’s top insurer Generali on Wednesday said it is aiming to become a top player in asset management after confirming its 2021 financial targets despite the pandemic. At an investor day on Wednesday, the insurer said asset management allowed it …
LONDON – British insurer RSA is backing a 7.2 billion pound ($9.55 billion) cash offer from Canada’s Intact Financial and Denmark’s Tryg in one of Europe’s biggest financial takeover bids this year. Insurers have become an attractive proposition since the …
Norwegian-owned cruise ship operator SeaDream Yacht Club has canceled all sailing for the remainder of 2020 after positive COVID-19 test results onboard one of its cruises, it said on Tuesday, dealing a fresh blow to the cruise industry. The decision …
BERLIN – More than 1,500 police carried out a series of searches in Berlin and arrested three people in a massive operation connected to the spectacular theft of 18th-century jewels from a unique collection in Dresden last November, authorities said …
Insurers are trying to escape liability for pandemic-related business losses with counter-intuitive arguments that go against the essential purpose of insurance, Britain’s markets watchdog told the UK Supreme Court on Tuesday. A lawyer for the Financial Conduct Authority (FCA), which …
A Cape Town court ordered Santam Ltd. to pay out business-interruption claims to two South African hospitality companies, potentially opening up the industry to cover losses suffered because of the coronavirus pandemic. The court agreed with the approach of the …