World

CVS Health takes over Aetna insurer

CVS Aetna takeover signals US healthcare consolidation

America’s private health insurance system is rapidly becoming centralized. Shareholders approved drugstore giant CVS Health takeover of the insurance company Aetna Inc. The $69 billion...

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Wendy Harris speaking during Royal Commission Misconduct Financial Services Industry hearing

Greed-driven misconduct exposes Australia’s banking sector

Australia’s banking sector shocked the world with blatant misconduct which highlighted selfish means for short-term financial gain. The intervention by the Royal Commission has brought...
Danske-bank-woman-withdrawing-money-atm

Danske Bank scandal exposes money laundering risk

Financial institutions are at greater risk for money laundering losses than ever before. The Danske Bank scandal reveals that even institutions in law-abiding nations...

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Deutsche-Bank-main-building

Deutsche Bank settles €4m ‘Cum-Ex’ fraud investigation

Deutsche Bank settled a €4 million fraud investigation with German public prosecutors for its role in helping clients carry out dubious tax deals, Bloomberg...
Matteo Salvini speaking about the future of Europe in the European Parliament

Moody’s downgrades Italy credit ratings on budget deficits concerns

Italy appears to be in the midst of another major financial crisis as Moody’s cut its credit ratings from “Baa2” to “Baa3”, one level...
Danske-bank-woman-withdrawing-money-atm

Danske Bank scandal exposes money laundering risk

Financial institutions are at greater risk for money laundering losses than ever before. The Danske Bank scandal reveals that even institutions in law-abiding nations...
General Electric

General Electric’s massive debts risk breaking it up

General Electric (GE), one of the most iconic names in American business, is cracking up because of debts. A company founded by Thomas Edison...
Wildfires in California, CA

American insurers enter the firefighting business

Climate change is forcing American insurance companies to enter the firefighting business. Chubb, in particular, operates its own fire brigade called Wildfire Defense Services. The...
CVS Health takes over Aetna insurer

CVS Aetna takeover signals US healthcare consolidation

America’s private health insurance system is rapidly becoming centralized. Shareholders approved drugstore giant CVS Health takeover of the insurance company Aetna Inc. The $69 billion...
Venezuela President Nicolas Maduro launching the Petro cryptocurrency

Venezuela defying the odds with new cryptocurrency, El Petro

Nicolas Maduro has advised government workers to invest in the newly created cryptocurrency, El Petro. The Venezuela president made the call (in Spanish) on...
US Dollar hike harming Latin American economies

Rising US Dollar puts Latin American economies at risk

The rising US dollar is increasing the risk of a serious global economic crisis. The dollar’s rise has triggered economic chaos in Latin America...
Earthquake Mexico Sep 2017

World Bank issues historic $1.36bn catastrophe bond covering Latin American earthquakes

The International Bank for Reconstruction and Development (IBRD), the main component of the World Bank Group, has issued Latin American earthquake-linked catastrophe bonds (known...

Lloyd’s opens new Morocco office in Casablanca Financial City

Lloyd’s of London, the world’s oldest insurance market, is expanding its African footprint with a new office in Casablanca, Morocco. After several months of negotiations,...
Zurich-South-Africa-Offices

Fairfax acquires Zurich’s South Africa and Botswana insurance operations

Fairfax Financial Holdings recently announced that it has entered into an agreement with Zurich Insurance Company to acquire 100% of its South African and...
South African gold-miners

Silicosis class action lawsuit – Claimants win first round

In the first round of a class action lawsuit, which has garnered a lot of international publicity, silicosis claimants had their class action lawsuit...
Iran's Securities and Exchange Organisation HQs

Iran considering Insurance-Linked Securities market for reinsurance

Iran is considering the development of new financial products, including insurance-linked securities and Islamic bonds, to alleviate the US sanctions on its economy. The...
Turkey Bureau de change

Turkey’s debt rating hit on concerns over hard landing risks

Turkey’s recent debt rating cuts are stoking fears of the potential for a hard landing due to a depreciating lira, a private credit boom,...
Dr. Hemmati speaking at the 4th Intl Exhibition Exchange, Bank, Insurance

Munich Re backs Mellat Insurance in fresh agreement

Munich Re has recently entered into a reinsurance agreement with Iranian insurer Mellat Insurance. The contract which was finalized at the end of April...
Wendy Harris speaking during Royal Commission Misconduct Financial Services Industry hearing

Greed-driven misconduct exposes Australia’s banking sector

Australia’s banking sector shocked the world with blatant misconduct which highlighted selfish means for short-term financial gain. The intervention by the Royal Commission has brought...
Woman presenting top insurance brands market share

Most valuable global insurance brand 2018 is …

China leads and dominates the global insurance ranking in a recently published Kantar Millward Brown’s 2018 Brandz report.  The Brandz™ report tracks the value...
Ding Xuedong speaking at the Asian Financial Forum

China’s sovereign wealth fund increasing risk appetite

China Investment Corp. (CIC) is pulling out all stops to forge ahead with investments in the United States after a successful foray last year....