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London’s Brexit-Related Job Losses Will Be Fewer Than 1st Feared: Policy Chief
Britain’s vast financial services industry will suffer far fewer job losses from Brexit than first feared, the City of London’s policy chief told Reuters, in remarks that will boost supporters of leaving the EU who say the threat has been …

POSTED JANUARY 19, 2018 11:05 AM
Lebanon Spy Agency Turns Smartphones into Spycams, Targeting Thousands: Researchers
Lebanon’s intelligence service may have turned the smartphones of thousands of targeted individuals into cyber-spying machines in one of the first known examples of large-scale state hacking of phones rather than computers, researchers say. Lebanon’s General Directorate of General Security …

POSTED JANUARY 19, 2018 10:48 AM
U.S. Regulator Pulls Back from MetLife’s ‘Too-Big-to-Fail’ Designation
The U.S. government and MetLife Inc. announced on Thursday they would jointly seek to dismiss an appeal over whether the insurance company should face stricter oversight as a key part of the financial system. MetLife and the Financial Stability Oversight …

POSTED JANUARY 19, 2018 10:10 AM
AIG Taps Barron from PwC as Head of International Government Affairs
American International Group (AIG) announced that Ed Barron will join the company as head of International Government Affairs, effective March 2018. In this new role, Barron will be responsible for developing a cohesive, global perspective and engagement strategy for legislative …

POSTED JANUARY 19, 2018 9:53 AM
U.S. Banks Face Growing Threat from Cyber Attacks: New Bank Regulator
U.S. banks are facing a growing threat from cyber attackers and making defense against them more complex by relying on third-party firms for support, according to a report released Thursday by Joseph Otting, the Trump administration appointee who took over …

POSTED JANUARY 19, 2018 9:25 AM
RenaissanceRe to Buy Minority Stake in Run-Off Firm Catalina Holdings
RenaissanceRe will pick up a minority stake in Catalina Holdings (Bermuda) Ltd., a long-term manager of legacy runoff P/C insurance and reinsurance businesses. Neither side is disclosing financial terms. RenaissanceRe will pursue the investment through its subsidiary RenaissanceRe Ventures Ltd. …

POSTED JANUARY 19, 2018 9:18 AM
Microinsurer BIMA Aims to Close Developing Nations’ Protection Gap with Life & Health Cover
The insurance protection gap in developing nations is being filled by a growing group of microinsurers, which provide coverage that ranges from life and health insurance, to crop insurance, to property protection after natural disasters. It is all aimed to …

POSTED JANUARY 19, 2018 8:40 AM
A.M. Best Assigns Credit Ratings to Texas’ Pan-American Casualty
A.M. Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” to Pan-American Casualty Co. (PACC) in Richardson, Texas, a wholly owned indirect subsidiary of Pan-American Casualty Co. (PACC) The ratings have …

POSTED JANUARY 19, 2018 6:59 AM
Rating of Michigan’s Wolverine Mutual Insurance Upgraded
A.M. Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “bbb” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Wolverine Mutual Insurance Co. (Wolverine), in Dowagiac, Michigan. The outlook of the Long-Term ICR …

POSTED JANUARY 19, 2018 6:52 AM
Bankruptcy Judge Rules GM’s $1 Billion Stock Settlement Over Ignition Invalid
A federal bankruptcy judge on Thursday said a settlement agreement that would require General Motors Co. to pay $1 billion in stock to car owners suing the company over faulty ignition switches was not enforceable. Judge Martin Glenn of the …

POSTED JANUARY 19, 2018 6:00 AM

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