Ship owners and insurers say it may be impossible for the maritime industry to fully comply with the Trump administrations new guidelines on how to avoid sanctions penalties related to Iran, North Korea and Syria, raising the risk of disruptions in a sector already struggling with the fallout of the coronavirus outbreak.
Prominent U.S. fund managers piled into big-name technology stocks and bottom-fished in the beaten-down energy sector as markets reeled from the coronavirus-fueled selloff in the first quarter, regulatory filings released on Friday showed.
* Commerzbank, ABN Amro swing to Q1 loss, shares drop. * Italy's Exor drops as Covea ditches deal to buy PartnerRe. * STOXX 600 profits expected to decline 46.7% in Q2. By Sruthi Shankar.
New York City Comptroller Scott Stringer on Friday urged the executives of three large insurance companies to end their ties with the coal industry. Stringer sent letters to the executives of Berkshire
Hathaway (BRK/A), which has a large insurance group, American
International Group (AIG), and Liberty Mutual Insurance.
China's banking and insurance regulator said on Wednesday that the sector's bad loan ratio is 2.04%, and estimated it will continue to rise in the second quarter but not at a fast pace. Huang said that banking sector extended 2.5 trillion yuan in new credit support to firms, shops and individual businesses in the first quarter, twice as much as in the same period last year.
Canada's second-biggest life insurer, Sun Life Financial Inc (SLF), raised premium rates on some life insurance and critical illness policies by up to 27% for new applicants on Monday, to help offset the hit from decade-low interest rates in Canada. The move highlights the hit to the sector from a slide in the benchmark interest rate to 0.25% and economic uncertainties from the COVID-19 pandemic.
The financial industry wants the U.S. Securities and Exchange Commission to hold off on parts of a new rule requiring brokers to disclose potential conflicts of interest, citing disruptions caused by the coronavirus, four people with knowledge of the discussions said.
The financial industry wants the U.S. Securities and Exchange Commission to hold off on parts of a new rule requiring brokers to disclose potential conflicts of interest, citing disruptions caused by the coronavirus, four people with knowledge of the discussions said.
The German government and the nation's credit insurance industry have agreed on a plan to help the sector keep insuring trade despite economic hardship related to the coronavirus outbreak, people with knowledge of the plan said on Wednesday. The plan foresees government guarantees of up to 30 billion euros for the commercial credit insurance industry, the sources said.
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