Swiss Market Regulator FINMA Restructures; Head of Insurance Division to Step Down
Swiss financial market watchdog FINMA has revamped its organizational structure with immediate effect, the regulator said on Tuesday, as it gears up for future challenges including supervision of the enlarged UBS. Switzerland has pledged to step up regulation of the …
POSTED APRIL 02, 2025 10:06 AM |
Is Britain on the Cusp of Another Multibillion-Pound Consumer Finance Scandal?
The Supreme Court of the United Kingdom will on Tuesday hear arguments to overturn a judgment that could cost Britain’s financial industry billions of pounds in fresh legal costs and potential customer compensation. The Court of Appeal ruled in October …
POSTED APRIL 02, 2025 9:56 AM |
Italy Insurance Watchdog Needs More Details of Generali-Natixis Deal, Sources Say
Italy’s insurance regulator IVASS needs more details about internal control and governance systems as it reviews domestic leader Generali’s proposed asset management tie-up with French bank BPCE, two sources close to the matter told Reuters. Generali, Europe’s fourth-largest insurer, signed …
POSTED APRIL 02, 2025 9:47 AM |
Swedish Insurer Folksam Divests $160 Million Tesla Stake
Sweden’s largest insurer Folksam said on Wednesday it has sold its stake in electric car maker Tesla over concerns about the company’s stance on workers’ rights. Tesla, headed by billionaire Elon Musk, is facing a backlash from unions and some …
POSTED APRIL 02, 2025 9:26 AM |
Bain-Backed Esure Eyes UK Growth After £200 Million Revamp
UK home and motor insurance firm Esure Group Plc sees further growth in the country after a £200 million ($258 million) revamp program, according to its Chief Executive Officer David McMillan. The company, backed by private equity firm Bain Capital, …
POSTED APRIL 02, 2025 9:01 AM |
US House Democrats Open Investigation Into Kennedy Bird Flu Response
Democrats on the U.S. House of Representatives oversight committee opened an investigation on Tuesday into health secretary Robert F. Kennedy Jr.’s handling of the federal response to bird flu, according to a letter sent to Kennedy and released by the …
POSTED APRIL 02, 2025 5:48 AM |
FCC Chairman Orders DEI Investigation Into Disney, ABC
The head of the Federal Communications Commission ordered an investigation into Walt Disney Co. and its ABC network over their diversity, equity and inclusion practices, broadening his examination of media and telecom companies for perceived discriminatory biases. FCC Chairman Brendan …
POSTED APRIL 02, 2025 5:32 AM |
Majority of Small Biz Leaders Think AI Will Play ‘Crucial Role’ in Work Safety
More than half of small business leaders believe artificial intelligence will play a “crucial role” in worker safety over the next five years, according to a new report from Pie Insurance. A survey of decision-makers from just over a thousand …
POSTED APRIL 02, 2025 5:13 AM |
North Carolina Commissioner Settles Mobile Home Rate Increase at 11%
North Carolina Insurance Mike Causey said Tuesday that he had negotiated a lower average rate increase for mobile home policies than the North Carolina Rate Bureau had asked for. “I am happy to announce that North Carolina mobile homeowners will …
POSTED APRIL 02, 2025 5:01 AM |
Getty Museum to Sell $500 Million of Debt for Fire Protection
One of California’s most famed art institutions, the Getty, is turning to the bond market for $500 million to help preserve its masterpieces as the state prepares for another fire-prone summer. The J. Paul Getty Trust is expected to sell …
POSTED APRIL 02, 2025 5:00 AM |