News
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AM Best assigns A-minus rating to newly-licensed Peak Re North America
By Michael LoneyMay 28 - (The Insurer) - AM Best has assigned a financial strength rating of A-minus (excellent) and a long-term issuer credit rating of a-minus to Peak Reinsurance North America, a Bermuda-based subsidiary of Hong Kong-based reinsurer Peak Re.The ratings reflect Peak Re NA’s inclusi...Reuters
Wed, May 28
RSUM affiliates assigned PA-1 AM Best performance assessment
By Michael LoneyMay 28 - (The Insurer) - AM Best has assigned a performance assessment of PA-1 (Exceptional) to a group of nine affiliates of Chicago-based Ryan Specialty Underwriting Managers.The nine affiliates are RSG Underwriting Managers, RSG Specialty, Ryan Re Underwriting Managers, Ryan Speci...Reuters
Wed, May 28
Japan Intends to Pour Money for U.S. Chips: Will This Gesture Bring Slashed Tariffs?
TradingKey - According to the Asahi Shimbun, Japan has proposed a procurement plan related to the semiconductor industry during its tariff negotiations with the United States. Japan plans to subsidize domestic companies to import semiconductor products from the U.S. worth up to 1 trillion yen...
TradingKey
Wed, May 28
Nissan plans $7 billion funding, including loan backed by UK government, Bloomberg News says
TOKYO, May 28 (Reuters) - Japan's struggling Nissan 7201.T is considering raising more than 1 trillion yen ($7 billion) from debt and asset sales which would include a syndicated loan guaranteed by the British government, Bloomberg News said on Wednesday.The country's third-biggest automaker...Reuters
Wed, May 28
Vitale: Resilience has 'strong' runway in ‘survival of the fittest’ cyber MGA landscape
By James ThalerMay 27 - (The Insurer) - Resilience’s Mario Vitale has said that the cyber insurtech has “strong runway” and strong investor support, and that M&A is unlikely to be a part of its strategy, as some peer cyber insurtechs have either been acquired by incumbents or exited the market.T...Reuters
Wed, May 28
Has the Global Long-Term Bond Market Recovered? Another Weak Japan’s Bond Auction Emerged
TradingKey - After the U.S. reduced bond issuance, the UK cut reliance on long-term debt, and Japan signaled adjustments to its bond-buying program, global bond markets appeared to stabilize — with yields retreating and the worst of the long-bond selloff seemingly over.TradingKey
Wed, May 28
South Korean students warned over social media posts amid Trump administration crackdown
US boosts scrutiny of South Korean students' social media postsVisa interview appointments halted, raising worry over delaysStudents advised to moderate posts to avoid visa complicationsBy Ju-min Park SEOUL, May 28 (Reuters) - President Donald Trump's administration is raising scrutiny ov...Reuters
Wed, May 28
Aon’s Beveridge: Insurers looking for areas of growth after ‘optimisation’ as market conditions shift
By James ThalerMay 27 - Aon’s global chief broking officer Cynthia Beveridge has said that, as market conditions shift and after a period of “portfolio optimisation”, carriers are honing their focus on areas for growth, and that Aon’s tie-up with NFP is helping insurers go further downmarket.Beverid...Reuters
Wed, May 28
Ford Motor Company Is Recalling 1,075,299 U.S. Vehicles - NHTSA
May 28 (Reuters) - Ford Motor Co F.N:FORD MOTOR COMPANY IS RECALLING 1,075,299 U.S. VEHICLES - NHTSAFORD MOTOR COMPANY IS RECALLING SOME U.S. VEHICLES AS A FROZEN OR MISSING REARVIEW CAMERA IMAGE CAN REDUCE THE DRIVER'S VIEW BEHIND THE VEHICLE, INCREASING THE RISK OF A CRASH.- NHTSASource text: ...Reuters
Wed, May 28
At-Bay 'well capitalised’ with no current need for further funding, says CEO Iram
By James ThalerMay 27 - (The Insurer) - At-Bay co-founder Rotem Iram said the company has no current need for additional funding with the business “well capitalised,” while he believes current cyber rates are “lower than they should be” and expects them to rise.The company’s CEO made those comments ...Reuters
Wed, May 28
Many Ukrainians baulk at conceding land to Russia, entangling nascent peace process
Ukraine under pressure from Russia and US to cede territoryRussia occupies nearly one fifth of UkrainePresident Putin wants Kyiv to concede more in any peace dealZelenskiy and his people oppose such demandsPeace negotiations at impasse despite prisoner swapBy Olena Harmash and Vlad Smilianets KYI...Reuters
Wed, May 28
Soccer-Former Arsenal, Sociedad attacker Vela retires
May 28 (Reuters) - Former Arsenal and Real Sociedad attacker Carlos Vela has retired from professional soccer after a career spanning 19 years, the 36-year-old said on Tuesday.Vela graduated from Arsenal's youth setup and made his senior debut during a loan spell at Spanish side Salamanca. He ma...Reuters
Wed, May 28
EXCLUSIVE-China flexes military muscle with East Asian naval activity, sources say
Security officials track rise in China's naval activityChinese ships spotted along first island chain, sources sayChinese aircraft carrier sails near Japan, TaiwanBy Yimou Lee and Ben BlanchardMay 28 (Reuters) - China has flexed its muscles this month by sending an unusually large number of nava...Reuters
Wed, May 28
ECB's Lagarde determined to complete her term, spokesperson says
FRANKFURT, May 28 (Reuters) - European Central Bank President Christine Lagarde is determined to complete her eight-year term at the bank, an ECB spokesperson said on Wednesday after the Financial Times reported she held talks to become the president of the World Economic Forum."President Lagard...Reuters
Wed, May 28
VEON considers potential Starlink partnership, dual listing in UAE
DUBAI, May 28 (Reuters) - VEON VEON-RX.MM is in talks with Starlink over potential partnerships across all markets where the telecommunications group operates, its CEO said on Wednesday.Kaan Terzioglu said the company could consider a dual listing of both VEON and its units in the United Arab Emirat...Reuters
Wed, May 28
Russia masses over 50,000 troops for offensive on northeastern Ukraine, Zelenskiy says
By Max Hunder KYIV, May 28 (Reuters) - Russia has massed more than 50,000 troops, including some of its best forces, near Ukraine's northeastern Sumy region, but Kyiv has taken steps to prevent them from conducting a large-scale offensive, Ukrainian President Volodymyr Zelenskiy said.The buil...Reuters
Wed, May 28
Definity’s Travelers Canada deal “a rare and transformative opportunity”: CEO Saunders
By Chris MunroMay 27 - (The Insurer) - Definity Financial Corporation’s C$3.3 billion ($2.4 billion) acquisition of the bulk of Travelers Canada “is a rare and transformative opportunity”, president and CEO Rowan Saunders has declared.In a presentation shortly after Definity and Travelers announced ...Reuters
Wed, May 28
