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Timeline of Key Events in Collapse of Allianz’s Structured Alpha Funds
Germany’s Allianz has agreed to pay about $6 billion and its U.S. asset management unit will plead guilty to fraud after a group of its multibillion investment funds collapsed amid market turmoil triggered by the coronavirus pandemic in 2020. Here …
POSTED MAY 19, 2022 8:33 AM |
Hungary Eyes Boosting Domestic Ownership in Sectors Such as Insurance
Hungary should boost domestic ownership in more key sectors in addition to banking, media and energy, a cabinet minister-designate said on Wednesday, signaling more pressure on foreign companies to scale back their presence in the country. Prime Minister Viktor Orban, …
POSTED MAY 19, 2022 7:08 AM |
Canada Crop Land ‘Deteriorating’ as Heavy Rain Hinders Planting
Farmers in parts of Canada’s Prairies are struggling to get crops in the ground as heavy rains continue to wallop the eastern region in the latest threat to global grain supplies. Virtually no seeding has been done in Manitoba as …
POSTED MAY 19, 2022 6:52 AM |
Climate Change Boosted Cost of Japan’s Typhoon Hagibis by $4B: Study
The effects of human-caused climate change were responsible for roughly $4 billion of the $10 billion in insured losses resulting from Typhoon Hagibis that struck Japan in October of 2019, according to a new analysis of the storm. Hagibis, which …
POSTED MAY 19, 2022 5:57 AM |
Where Property Insurance Buyers Are Headed: A Paradigm Shift
Rising commercial property insurance costs have gotten the attention of executives across a broad cross-section of corporate America. Aon, a leading broker of commercial insurance, reports that fourth-quarter 2021 was the 17th consecutive quarter of positive rate increases for commercial …
POSTED MAY 19, 2022 5:42 AM |
Global Supply Stress Worsened in April, NY Fed’s Index Shows
Stress on global supply chains worsened in April as coronavirus lockdown measures in China and the war in Ukraine lengthened delivery times, and air freight costs between the United States and Asia rose, the New York Federal Reserve reported in …
POSTED MAY 19, 2022 5:35 AM |
CAC Adds Eisenstat and Sharp; Alliant in California Names Graham-Helwig Senior Vice President
CAC Specialty added Rick Eisenstat and Justin Sharp to its natural resources team. Eisenstat is an environmental law specialist and will serve as vice president. His expertise in environmental law. He most recently worked with Galloway, Johnson, Tomkins, Burr and …
POSTED MAY 19, 2022 5:00 AM |
Growth of Massive New Mexico Wildfire Slowed
Firefighters have been able to slow the growth of a massive wildfire burning in the mountains of northeastern New Mexico as they prepared Wednesday for another round of red-flag weather that has the potential to push the flames through more …
POSTED MAY 18, 2022 11:02 PM |
Native American Man Files Suit in Oregon Alleging Bogus Detention
A lawsuit alleges a Salem, Oregon, police officer accused a Native American man of stealing a car he was working on, grabbed him, shoved him onto the hood of his police car and handcuffed him with no justification for arrest. …
POSTED MAY 18, 2022 10:46 PM |
People Moves: Longtime Alabama Agency Adds New Shareholder-Owners
Byars/Wright Insurance, an independent agency with six offices in Alabama, has named four new shareholders, officially giving the agency six owners. In addition to existing owners Haig Wright II and Skip Roberts, four others have been added: Paul Burnett, Evan …
POSTED MAY 18, 2022 4:40 PM |
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