News
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Switzerland fines Morgan Stanley $1 million over 2010 money laundering case
ZURICH, Feb 27 (Reuters) - The Swiss attorney general's office said on Thursday it had imposed a $1 million fine on Morgan Stanley's Swiss operations for failing to do enough to prevent one of its client advisors committing qualified money laundering in 2010.In a statement, the office said t...Reuters
Thu, Feb 27
Miuccia Prada says 'everybody' interested in buying Versace
Adds detail, background MILAN, Feb 27 (Reuters) - Numerous fashion companies are potentially interested in buying Versace, Miuccia Prada, owner of the Italian luxury group Prada 1913.F, said on Thursday. Capri Holdings CPRI.N is working with Barclays to explore a sale of its Versace brand, so...Reuters
Thu, Feb 27
Prosecutors lift travel ban, allow Andrew Tate to leave Romania, source says
Tate brothers leave Romania on private flight to Florida, source saysUnder investigation on accusations of human traffickingProsecutors lift obligation not to leave RomaniaOther judicial controls remain in placeAdds Tate brothers arriving in US in paragraph 1By Luiza Ilie BUCHAREST, Feb 27 (Reute...Reuters
Thu, Feb 27
Kin grows GWP 43% to $495.3 million in 2024
By Mia MacGregorFeb 27 - (The Insurer) - Kin has reported $12 million in operating income for 2024, marking a 126% increase over the prior year.$12 million in 2024 operating income, a 126% YoY increase.Full-year revenue reached $156.1 million, up 48% from 2023.GWP was $495.3 million for the year, up...Reuters
Thu, Feb 27
Fox Corp names Pete Distad as head of its new subscription streaming platform
Feb 27 (Reuters) - Fox Corp FOXA.O on Thursday named former Apple TV+ executive Pete Distad as the CEO of its upcoming subscription streaming platform, which will take on the likes of Netflix and Disney+. The Murdoch family-controlled company plans to launch the yet-to-be-named subscription-based s...Reuters
Thu, Feb 27
Andrew Tate lands in USA after Romanian prosecutors lift travel ban
WARSAW, Feb 27 (Reuters) - Andrew Tate and his brother Tristan have safely landed in Fort Lauderdale, Florida, the online influencer's media representative said on Thursday. He and his brother are under investigation in Romania on accusations of forming an organised criminal group, human traffic...Reuters
Thu, Feb 27
Loeb sells $57.5 million-worth of SiriusPoint shares, CM Bermuda repurchase set to close
By Michael LoneyFeb 27 - (The Insurer) - SiriusPoint has announced the pricing of a secondary offering by entities associated with Daniel Loeb of an aggregate of 4,106,631 common shares at a price to the public of $14.00 per share.The Bermudian (re)insurer has agreed to repurchase an aggregate of 50...Reuters
Thu, Feb 27
FL startup Mangrove adds Universal NA’s Miranda as SVP, risk, underwriting and analytics
By Mia MacGregorFeb 27 - (The Insurer) - Florida-based startup Mangrove Property Insurance has appointed former Universal North America executive Eduardo Miranda as senior vice president of risk, underwriting and analytics. His appointment was effective February 24.Miranda joins Mangrove after nearl...Reuters
Thu, Feb 27
State Farm Ventures invests in Proof to bolster its fraud detection capabilities
By Isha MaratheFeb 27 - (The Insurer) - State Farm Ventures, the corporate venture arm of State Farm, has made a strategic investment in identity authentication provider Proof.The investment will accelerate Proof’s efforts to enhance efficiency and improve the customer experience in the traditional...Reuters
Thu, Feb 27
NFP acquires Delaware-based Lyons Insurance Agency
By Isha MaratheFeb 27 - (The Insurer) - Aon-owned NFP has acquired Lyons Insurance Agency, a multidisciplinary insurance broker located in Wilmington, Delaware.The financial terms of the deal were not disclosed.David Lyons and Tim Lyons, vice presidents of Lyons, will join NFP as senior vice presid...Reuters
Thu, Feb 27
Universal says 92% of first event cat reinsurance tower already placed
By David BullFeb 27 - (The Insurer) - Universal Insurance Holdings said on Wednesday that it has already placed 92% of its first event catastrophe tower ahead of its June 1, 2025 renewal, while also securing “significant” additional multiyear capacity that will carry over to the 2026 hurricane seaso...Reuters
Thu, Feb 27
Iraq's Kurdistan president welcomes Ocalan's call for PKK to dissolve, statement says
Feb 27 (Reuters) - Nechirvan Barzani, president of Iraq's semi-autonomous Kurdistan region, has welcomed the call by Abdullah Ocalan, jailed leader of the militant Kurdistan Workers Party (PKK), for it to lay down arms and dissolve itself, a statement said on Thursday.Reuters
Thu, Feb 27
Mount Vesuvius eruption turned a man's brain into glass. Here's how it happened
Volcanic eruption buried ancient Pompeii and HerculaneumVictims were preserved in sudden death in the two citiesMan was exposed to heat of 510 degrees Celsius (950°F)By Will Dunham Feb 27 (Reuters) - It was a surprising discovery when scientists examining the remains of a man who died in bed in t...Reuters
Thu, Feb 27
BRIEF-Xinhua Says China Warns That U.S. Proposal To Levy Port Fees On Chinese Ships Could Backfire
Feb 27 (Reuters) - XINHUA:CHINA WARNS THAT U.S. PROPOSAL TO LEVY PORT FEES ON CHINESE SHIPS COULD BACKFIRECHINA'S COMMERCE MINISTRY: CHARGING FEES ON CHINESE SHIPS ENTERING U.S. PORTS WOULD DISRUPT GLOBAL SUPPLY CHAINS, BACKFIRE ON U.S. ECONOMY, EMPLOYMENTFurther company coverage: [ ]Reuters
Thu, Feb 27
Gallagher acquires São Paulo-based Case Group
By Mia MacGregorFeb 27 - (The Insurer) - Arthur J Gallagher has acquired São Paulo, Brazil-based Case Group, an employee and health benefits brokerage and consulting firm. Terms of the transaction were not disclosed.The Case Group team, led by Rafael Motta, will continue operating from their current...Reuters
Thu, Feb 27
WRAPUP 3-Canada's RBC, TD, CIBC top profit expectations, stay cautious on trade risks
Adds shares in paragraph 7,10, analyst comments in paragraph 8-9 and details from conference callBanks' quarterly profits beat analyst expectationsRBC and TD set aside funds to shield against potential bad loansRBC CEO says bank 'seeing signs of lower business confidence'By Nivedita Balu...Reuters
Thu, Feb 27
Fortegra grows GWP and premium equivalents 18% to $852 million in Q4
By Michael LoneyFeb 27 - (The Insurer) - Fortegra grew gross written premiums (GWP) and premium equivalents 17.6% to $851.9 million in the fourth quarter, while the Tiptree and Warburg Pincus-backed specialty carrier also slightly improved its combined ratio to 89.5%.GWP and premium equivalents up 1...Reuters
Thu, Feb 27
Report of TSMC chips made for Huawei "a huge concern", US Commerce nominee says
Feb 27 (Reuters) - U.S. President Donald Trump's nominee to a post overseeing export policy on China said on Thursday that a report about Taiwan Semiconductor Manufacturing Co 2330.TW producing hundreds of thousands of chips for Huawei was "a huge concern."Jeffrey Kessler, the nominee fo...Reuters
Thu, Feb 27
CORRECTED-Health Rounds: Experimental drug delays heart valve disease progression, and potentially surgery
Corrects headline and first item in Feb 25 Health Rounds newsletter to reflect that Sanofi is no longer involved in the drug's developmentBy Nancy LapidFeb 25 (Reuters) - Hello, Health Rounds Readers! Procedures to replace diseased heart valves are increasingly common, but today we have data on ...Reuters
Thu, Feb 27
GSK abandons diversity targets following Trump pressure
By Maggie Fick LONDON, Feb 27 (Reuters) - British drugmaker GSK GSK.L will no longer set diversity targets, it said on Thursday, as it became the latest company to scale back or abandon such goals in response to the U.S. president's opposition to them.President Donald Trump has issued a serie...Reuters
Thu, Feb 27
