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News – Insurance Journal
Danske Bank Whistleblower Says U.S., European Banks Helped Launder Money
The whistleblower who revealed suspected money laundering involving Danske Bank said on Monday that two major U.S. and one European banks were among several which had helped process suspicious payments. Payments totaling 200 billion euros ($228.5 billion) made through Danske …
POSTED NOVEMBER 19, 2018 1:39 PM |
Explaining Danske Bank’s €200 Billion Money Laundering Scandal
Danske Bank has been caught up in one of the largest-ever money laundering scandals. Howard Wilkinson, the whistleblower who first alerted Denmark’s biggest bank to the problem, testified before the Danish parliament on Monday. HOW BIG A SCANDAL IS THIS? …
POSTED NOVEMBER 19, 2018 1:12 PM |
Brit Launches Sussex Capital UK to Write Collateralized Reinsurance
Brit Ltd., the specialty insurer and reinsurer, announce the launch of Sussex Capital UK PCC Ltd., a new multi-arrangement insurance special purpose vehicle (MISPV). Sussex Capital UK is the first transformer vehicle to be given permission by the Prudential Regulation …
POSTED NOVEMBER 19, 2018 10:53 AM |
China’s Ping An Invests $47M in German Fintech Incubator Finleap
Ping An Insurance Group Co., China’s biggest insurer by market value, led investors in injecting 41.5 million euros ($47 million) into Germany’s Finleap GmbH in its latest round of funding. The Chinese behemoth’s $1 billion-Global Voyager Fund led the investment …
POSTED NOVEMBER 19, 2018 9:45 AM |
China Eyes Allowing Foreign Insurers to Own Local Joint Ventures: Sources
China will accept applications early next year from foreign insurers seeking to take control of their local joint ventures and is even weighing giving them full ownership earlier than flagged, people with direct knowledge of the matter said. The regulator …
POSTED NOVEMBER 19, 2018 9:21 AM |
AutoNation On-Demand Used Car Subscription Service Bundles Maintenance, Insurance
AutoNation Inc., the country’s largest automotive retailer, has announced a partnership with Fair, a digital subscription service, that will allow consumers to lease used vehicles on a month-to-month basis rather than buying them. Consumers can shop and sign for a …
POSTED NOVEMBER 19, 2018 6:00 AM |
CREST Insurance Group in Arizona Names Baena President of Employee Benefits
CREST Insurance Group LLC of Arizona has named Cristina Baena president of the employee benefits division. Baena will be overseeing 32 employees from the Tucson, Scottsdale, Sierra Vista, Flagstaff, as well as San Diego, Calif., and Denver, Colo., office locations. …
POSTED NOVEMBER 19, 2018 6:00 AM |
State Insurance Regulators Elect Maine’s Cioppa President of NAIC for 2019
State insurance regulators have elected new officers of the National Association of Insurance Commissioners (NAIC). The following officers will assume their duties on Jan. 1, 2019: President: Maine Insurance Superintendent Eric A. Cioppa. Cioppa joined the Maine regulatory bureau in …
POSTED NOVEMBER 19, 2018 6:00 AM |
Medical Professional Liability Insurers Post Underwriting Loss Again
U.S. medical professional liability insurers reported an underwriting loss again last year, according to Fitch Ratings in a new report that says the results are drawing more scrutiny around reserves that are shrinking. For the second consecutive year, the medical …
POSTED NOVEMBER 19, 2018 6:00 AM |
What Agents Should Know About Cryptocurrency Insurance Market
Cryptocurrency and blockchain entities may seem like a hot market for insurance agents looking to specialize, but right now there are not many insurers willing to write it. Before jumping in, agents would be wise to consider partnering with a …
POSTED NOVEMBER 19, 2018 6:00 AM |
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