World
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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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 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 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...
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 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’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...
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 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 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...
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...
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,...
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...
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 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’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,...
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...
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...
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...
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....
