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Generali, BPCE to Form Europe’s Second-Largest Asset Manager
Assicurazioni Generali SpA and BPCE have reached a preliminary deal to combine their investment units and create Europe’s second-largest asset manager amid a deal wave in the industry. The two firms signed a non-binding memorandum of understanding for a joint …
POSTED JANUARY 21, 2025 9:49 AM |
People Moves: SCOR UK Promotes Mummé-Young to CUO; QBE Taps Allianz’s Marega for New Role as European Product Manager, Professional Indemnity
This edition of International People Moves details appointments at SCOR UK and SCOR Syndicate as well as QBE. A summary of these new hires follows here. SCOR UK Promotes Mummé-Young to CUO SCOR announced the appointment of Henry Mummé-Young as …
POSTED JANUARY 21, 2025 9:11 AM |
Southern Taiwan Hit by 6.4 Magnitude Quake, TSMC Evacuates Some Factories
A 6.4 magnitude earthquake struck a mountainous, rural area of Taiwan’s south on Tuesday near the city of Chiayi, the island’s weather administration said, with reports of minor damage. Chipmaker TSMC said it had evacuated staff at its factories in …
POSTED JANUARY 21, 2025 7:52 AM |
UK’s Reeves to Meet Key Financial Services Sectors
British finance minister Rachel Reeves said on Monday she would meet representatives from key financial services sectors, such as banking and insurance, over the coming months to formulate a new growth and competitiveness strategy. “I am committed to working hand-in-hand …
POSTED JANUARY 21, 2025 7:34 AM |
EEOC Sues Two Automakers, Alleging Discrimination and Harassment
The U.S. Equal Employment Opportunity Commission on Jan. 17 sued two large automakers, accusing General Motors and the United Auto Workers of age discrimination and the Stellantis unit that includes Chrysler of subjecting female employees to sexual harassment. GM and …
POSTED JANUARY 21, 2025 7:08 AM |
Walgreens Ignored Red Flags in Dispensing Opioids, US Says
The Department of Justice sued Walgreens Boots Alliance Inc. for allegedly dispensing opioids and other controlled substances at pharmacies across the US while ignoring red flags that the prescriptions were likely illegal. The lawsuit claims Walgreens pharmacists filled millions of …
POSTED JANUARY 21, 2025 6:54 AM |
Michigan Adult Care Company to Pay $170K in EEOC Lawsuit
PACE Southeast Michigan, a company providing all-inclusive care for the elderly, will pay $170,000 and furnish other relief to resolve a disability discrimination lawsuit filed by the U.S. Equal Opportunity Commission (EEOC), the federal agency announced. According to the EEOC’s …
POSTED JANUARY 21, 2025 6:27 AM |
Extreme Cold and Record Snowfall to Test Texas Power Grid
A cold blast gripping the US South threatens to bring record-breaking snowfall to New Orleans and Houston and a deep freeze that endangers oil and natural gas output and electrical grids. Snow and sleet began dropping Monday night in Houston, …
POSTED JANUARY 21, 2025 6:24 AM |
Insurtechs’ Approach to Wildfire Insurance: Part I – Delos
While the Los Angeles wildfires inch closer toward containment, estimates of insured losses continue to creep higher. CoreLogic said the industry price tag of the Palisades and Eaton fires could land between $35 billion and $45 billion. Moody’s RMS, in …
POSTED JANUARY 21, 2025 6:15 AM |
North Carolina Settles on 15% Increase in HO Rates
RALEIGH. N.C. (AP) — Base rates for North Carolina homeowners’ insurance premiums will increase on average by about 15% by mid-2026 as part of a settlement reached by the state Insurance Department and the industry. The agreement announced Friday by …
POSTED JANUARY 21, 2025 6:01 AM |
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