Legal/ Regulatory

Trademark victories for common sense

It’s not often that the little guy gets to win in this world.

NZ administrators lobby to liquidate CBL and sell assets

The administrators of ailing New Zealand carrier CBL Corp have recommended that the company be put into liquidation and have some of its assets auctioned off.

Anbang founder handed 18 year prison sentence

The founder and former chairman of Chinese insurance giant Anbang, Wu Xiaohui, has been sentenced to 18 years in prison after a trial in a Shanghai court in which the executive pled guilty to fundraising fraud and embezzlement.

NBG's CEO steps down as Ethniki sale process rolls on

Leonidas Fragiadakis - the CEO of the National Bank of Greece, which is currently running a sales process for the country’s national insurance company Ethniki - has stepped down suddenly from his role.

Aon’s ex-Bolivia CEO denies stealing millions of dollars from employer

The former CEO of Aon’s operations in Bolivia has denied misappropriating millions of dollars from his old employer in an alleged scandal that saw the broker’s local reinsurance subsidiary taken over by the country’s regulator.

AmTrust reveals privatisation-linked FTC fee and Zyskind salary cut

Last year was certainly an eventful one for soon-to-be-private-again US carrier AmTrust.

FCA’s Bailey urges EU to reduce Brexit financial instability risk

Authorities in the UK and the European Union must “come together” to reduce the risks posed by Brexit to financial stability, Andrew Bailey, CEO of the Financial Conduct Authority (FCA) has warned.

Ardonagh’s results hit by £51mn Towergate compensation bill

Ardonagh Group’s dismal £260.9mn 2017 FY loss was exacerbated by a more than £50mn charge thought to be related to claims against one of its companies Towergate, which was forced to payout millions in compensation over a pensions advice scandal.

An ‘astounding’ number of insurers expect to be unaffected by Brexit

The deputy governor of Ireland’s central bank has fired a warning shot to the “astounding” number of Irish insurers that say they do not expect to be impacted by the UK’s departure from the European Union.

FCA looks into ‘informal’ information sharing in wholesale broking review

The UK regulator has asked whether brokers “informally” share information about tenders in its wide-ranging probe into the wholesale market, re-Insurance.com revealed on Friday (6 April).

Barbican and Howden pursued by Danish guarantee fund after Gable failure

Lloyd’s insurer Barbican and broker Howden have become the latest to find themselves ensnared in the growing construction liability crisis, re-Insurance.com understands.

Russia targets big three brokers in 'investigation' over sanctions dodging

The Russian authorities appear to have taken aim at the big three reinsurance brokers’ dealings in the country after a report in a state-run newspaper said the companies’ dealings with the Russian National Reinsurance Company (RNRC) were under “investigation” by the Interior Ministry.

FCA cuts back on investigations to focus on Brexit

The Financial Conduct Authority (FCA) has set out plans to scale back activities that aren’t directly impacted by Britain’s departure from the European Union.

REVEALED: The full scope of the FCA’s wholesale broker probe

Crunch time is looming for wholesale brokers ensnared in the Financial Conduct Authority’s (FCA) investigation into conflicts of interest at the top of the market’s largest intermediaries.

Anbang gets $9.7bn bailout after Chinese government takes control

Anbang has been bailed out to the tune of RMB60.8bn ($9.66bn) just months after the country’s insurance regulator took over the firm in the wake of its chairman’s arrest.

Gender pay gap deadline - how did your employer fare?

Ahead of tomorrow’s gender pay gap reporting deadline a final flurry of (re)insurers and brokers have made their numbers public – the majority notably with little fanfare.

BLP and Bryan Cave merger completes

The merger of law firms Bryan Cave and (re)insurance specialists Berwin Leighton Paisner (BLP) completed over the weekend.

Uninsured Russian mall fire prompts calls for liability cover law

The fire in a Russian shopping mall which caused the deaths of at least 64 people has led to calls for the government to introduce liability insurance laws after it emerged the complex owner had not purchased cover.

Bank of England and FCA back passporting into UK during Brexit transition

The Bank of England has said it expects EU firms to be able to continue doing business in the UK under the current passporting regime during the Brexit transition period up to 2020.

Former Anbang chairman denies ‘economic crime’ charges

Wu Xiaohui, the former chairman of Chinese insurer Anbang who was arrested as part of a broader crackdown on the country’s financial system last year, has denied all charges against him at the start of his trial in Shanghai today (28 March), according to reports.

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