Author Archives: Editor - Finance Top Stories

Delta Lloyd’s CFO Resigns After Dutch Court Upholds Central Bank Fine

Delta Lloyd NV Chief Financial Officer Emiel Roozen resigned after a Rotterdam court upheld a decision by the central bank to fine the insurer. The company won’t appeal the court ruling as it “seeks to resolve the situation as soon … Continue reading

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TigerRisk Enters China Market with Opening of Hong Kong Office

TigerRisk Partners LLC announced its first presence in Asia with the opening of the Hong Kong office of its subsidiary TigerRisk China Partners. TigerRisk China Partners is a member of the Hong Kong Confederation of Insurance Brokers, effective July 30. … Continue reading

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Marsh Completes Acquisition of UK-Based SME Insurance Services

Marsh has completed its previously agreed acquisition of Leeds, England-based SME Insurance Services (SMEi), an independent broker which provides specialist commercial insurance to small and medium-sized enterprises across the UK. The transaction was announced on June 1. The addition of … Continue reading

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Zurich Insurance Prepares Financing Ahead of Possible Offer for RSA: Sources

Zurich Insurance Group AG is raising financing ahead of a possible takeover offer for RSA Insurance Group, according to people familiar with the matter. The Swiss insurer is talking to banks about raising more than $4 billion, said two of the people, who asked … Continue reading

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German automakers buying Nokia’s HERE map business

BERLIN (AP) — A consortium of German automakers Audi, BMW and Daimler announced Monday it is buying Nokia Corp.’s HERE map business in a deal that values the unit at 2.8 billion euros ($3.1 billion) and secures their access to … Continue reading

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Legal Costs Hit HSBC Investment Bank Profit

HSBC Holdings Plc said first-half profit at its investment bank dropped 5.6 percent as legal expenses overshadowed an increase in revenue from foreign exchange and equities. Pretax profit in global banking and markets, the division that houses the firm’s trading … Continue reading

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Greek stock market reopens with 22 percent plunge

ATHENS, Greece (AP) — Greece’s main stock index plunged over 22 percent as it reopened Monday after a five-week closure, giving investors their first opportunity since late June to react to the country’s latest economic crisis. Greek bank stocks suffered … Continue reading

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Wall Street on edge as Greek stocks, bumper data eyed

U.S. stock index futures pointed to a flat open on Monday ahead of a busy week of top-tier data, as the Greek stock market opened for the first time in five weeks. Markets will be focused on the U.S. jobs … Continue reading

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Investigators: FAA Guidance Lacking in Wisconsin Midair Collision

A lack of guidance from the Federal Aviation Administration and improper training were significant factors in the midair collision of two skydiving planes over northwestern Wisconsin about two years ago, according to aviation investigators. The National Transportation Safety Board has … Continue reading

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CGSC Appoints Hooper, Newman, Ruggieri to Holding Company Board

Global broker Cooper Gay Swett Crawford (CGSC) has appointed three senior officers to its board of directors with immediate effect. Shaun Hooper, CEO of CGSC International, Gordon Newman, CEO of CGNMB and Thomas P Ruggieri, CEO President of CGSC North … Continue reading

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