Europe’s top insurance regulator on Friday set out a raft of changes to the way insurance companies must report and disclose information to supervisors under Solvency II, the European Union’s capital rulebook for insurers.
The Financial Conduct Authority is investigating Aon PLC, Marsh Ltd. and three other brokers for potentially sharing competitively sensitive information in the aviation insurance sector, the companies confirmed Friday, as the watchdog expands its use of its competition powers.
The U.K.’s Prudential Regulation Authority announced its latest stress test scenario for smaller banks, insurers and building societies on Friday as it seeks to engage senior managers and help them anticipate trouble.
An increasingly interconnected financial world and market makers' use of aging IT systems have left firms vulnerable to cyberattacks, which will drive a surge in demand for cyber coverage, according to a report released Thursday by three of Europe’s top financial regulators.
The U.K.'s Financial Conduct Authority said Tuesday it will prioritize supporting the British government's Brexit process as it maps out wider and tougher enforcement through 2018 under chief executive Andrew Bailey.
A bilateral deal placing insurance providers in the U.S. and European Union on equal footing continued to draw criticism on Friday from numerous members of the U.S. Congress and the National Governors Association, both of which pressed the Trump administration for details about the deal’s functionality.
A major insurance lobby urged the European Union on Monday to explain how its new disclosure rules for investment products will affect indemnities, saying big legal questions remain over how the regime will work.
A long-running saga over European Union disclosure regulations for investment products has cleared its final hurdle, after a plan was quietly approved by the legislators holding up the reforms, a European Commission spokesperson revealed exclusively to Law360 Friday.
Lloyd’s of London, the world’s biggest specialty insurance market, announced Wednesday that it has launched operations in India as Britain pushes into financial markets beyond the European Union.
Swiss Reinsurance Co. Ltd. says it's out more than $80 million in tax liabilities that General Electric Co. was obligated to cover from the 2006 sale of GE's reinsurance business but has yet to reimburse, according to a lawsuit filed Monday in New York state court.
Asset management companies will have to be more transparent about how they deal with shareholders in the companies in which they invest under laws adopted by the European Union on Monday.
U.S. insurance giant AIG's European unit has filed a claim in London’s High Court seeking almost $600,000 from Bank Leumi allegedly owed in the aftermath of the bank’s tax evasion scheme scandal under a reinsurance agreement between the two firms.
Lloyd’s of London will establish a new subsidiary in Brussels by 2019 to secure post-Brexit access to the European Union's single market, the world’s biggest speciality insurance market said Thursday.
Business outsourcing giant Capita PLC's insurance arm on Wednesday lost its U.K. Supreme Court bid to recoup £2.4 million ($3 million) the unit was forced to pay out after a specialist brokerage firm it bought was found to have missold car insurance products.
U.S. insurance giant AIG's European unit was left only partially victorious Wednesday in its long-running suit to aggregate 214 indemnity claims arising from failed property investments, after the U.K. Supreme Court ruled that the claims must be split into two groups.
A major insurance lobby downplayed fears on Wednesday that the rise of big data will massively bump up costs for some policyholders by allowing their individual risks to be pinpointed with greater precision.
The European Commission announced Tuesday it is taking stock of the effectiveness of the European Supervisory Authorities as it launched a consultation into whether changes to their current mandate and operations are needed.
The European Commission is slashing capital buffers for just 2 percent of insurers' asset portfolios and neglecting the overwhelming majority as the commission plans for the flagship Capital Markets Union, a major lobby group said Monday.
The U.K.’s Prudential Regulation Authority signaled a sweeping rethink of insurance supervision on Monday and suggested it could further strip back firms’ unpopular reporting requirements.
More insurance firms will be put up for sale in the U.K. this year than in any other country as companies struggle to remain viable under the European Union’s tough new capital rulebook, KPMG International predicted on Friday.