Published July 28, 2014 - 10:53am CST
(Reuters) — A leading U.S. meat supplier said on Monday that a Chinese unit at the center of a food safety scandal had issues that were “absolutely inconsistent” with the group's high standards.
Published July 28, 2014 - 10:51am CST
(Reuters) — Britain's Lloyds Banking Group P.L.C. has agreed to pay fines totaling $370 million to U.S. and British authorities investigating its part in a global interest rate rigging scandal and manipulating fees for a U.K. government lending plan.
By: Matthew Lerner
Published July 28, 2014 - 10:35am CST
Shareholders of Hamilton, Bermuda-based Aspen Insurance Holdings Ltd. have voted to reject two meeting proposals from Endurance Insurance Holdings Ltd. in the latest round of the battle waged over Endurance’s $3.2 billion hostile takeover offer made in April.
Published July 28, 2014 - 5:38am CST
Lloyd's of London is expected to see hundreds of millions of pounds wiped from its profits in 2014 becasue of the two recent Malaysia Airlines flight disasters involving flights MH-17 and MH-370, Sunday Express reported.
Published July 28, 2014 - 5:36am CST
China's Inner Mongolia Autonomous Region and Henan Province have suffered power and water shut-offs due to drought, Xinhua reported.
Published July 28, 2014 - 5:34am CST
Total premiums reported by insurers in Uzbekistan for the first half of 2014 have increased 23% year on year to 219.99 billion Uzbekistan som ($94.6 million), reports Forinsurer.
Published July 28, 2014 - 5:32am CST
Mapfre S.A.'s Latin American operations registered a 3.9% year-on-year increase in premiums to €2.61 billion ($3.57 billion) in the second quarter of 2014, BNamericas reported.
Published July 28, 2014 - 5:30am CST
Nigeria's insurance brokers and underwriters have come together to improve services, The Guardian reported.
Published July 28, 2014 - 5:24am CST
Typhoon Matmo has claimed 13 lives in China and has caused direct economic losses of 3.37 billion Chinese yuan ($544.2 million), the Ministry of Civil Affairs said.
Published July 28, 2014 - 5:23am CST
Azerbaijan's insurance supervisor is planning to expand the roster of international insurers, reinsurers and brokerage firms, Forinsurer reported citing Interfax Azerbaijan.
Published July 28, 2014 - 5:21am CST
Heavy rains have flooded parts of Slovakia's Vlkova village, damaging roads and utility poles and triggering landslides, Xinhua reported.
Published July 28, 2014 - 5:20am CST
The cost of cleanup from the recent storm in British Columbia's Kamloops city is expected to amount to several million dollars, CBC reported.
By: Judy Greenwald
Published July 25, 2014 - 1:24pm CST
The former president and CEO of Oklahoma City-based BizJet International Sales & Support Inc. has pleaded guilty for his participation in a scheme to pay bribes to Mexican and Panamanian government officials.
Published July 25, 2014 - 6:20am CST
Evan Greenberg, chief executive of Ace Ltd., has said he is confident of being able to handle risks in emerging markets thanks to the insurer's strategy for integrating companies, Bloomberg reported.
Published July 25, 2014 - 6:18am CST
The city of Yumen in Gansu province, China, has been sealed off after a person died of bubonic plague, The Guardian reported citing Chinese media reports.
Published July 25, 2014 - 6:13am CST
Moody's Investors Service Inc. has said in a report that an increasingly competitive environment in Brazil's reinsurance sector has triggered strong price competition, BNamericas reported.
Published July 25, 2014 - 6:11am CST
Lancashire Holdings Ltd.'s group chief executive officer Alex Maloney has said that aggressive reinsurance renewal pricing will continue this year, Artemis.bm reported.
Published July 25, 2014 - 6:10am CST
Insurance Australia Group Ltd. has upgraded its forecasts for full-year profit margin to the 18% to 18.3% range from previous projections of 14.5% to 16.5%, Sydney Morning Herald reported.
Published July 25, 2014 - 6:08am CST
Suppliers of nuclear equipment in India, including international companies, are worried about a paucity of insurance cover and have expressed their concerns to the government, Outlook India magazine reported.
Published July 25, 2014 - 6:06am CST
A textile plant and a vehicle spare parts factory in Desa Tun Razak, Malaysia, have been destroyed in a fire, Bernama reports.
Published July 25, 2014 - 6:05am CST
A 24-hour strike by 23,000 workers in Argentina's Neuquen basin will cost state-owned oil and gas company YPF S.A. $12 million, the company said.
Published July 25, 2014 - 6:01am CST
Pakistan-based EFU General Insurance Ltd. is planning to offer sharia-compliant insurance products, Reuters reported. The country's insurance authorities recently gave approval for conventional insurers to provide Islamic products as part of efforts to boost insurance penetration.
By: Judy Greenwald
Published July 24, 2014 - 3:33pm CST
The European Central Bank on Thursday reported a breach of its public website, saying it learned about the event after getting an anonymous email seeking financial compensation for the stolen data.
By: Matthew Lerner
Published July 24, 2014 - 11:36am CST
Offshore underwriters Everest Re Group Ltd. and Allied World Assurance Co. Holdings A.G. have reported improved second-quarter results.
Published July 24, 2014 - 11:20am CST
(Reuters) — McDonald’s Corp. Chief Executive Don Thompson said the company feels “a bit deceived” by the audit it received for China supplier Shanghai Husi Food Co Ltd., which was shut down after a television report showed workers mishandling meat and mixing fresh meat with product past its expiration date.