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EU, U.S. strike deal to boost transatlantic insurance market

January 15, 2017 by · Leave a Comment 

The European Union and the United States agreed on Friday to reduce legal and capital barriers to boost the $3 billion transatlantic insurance and reinsurance market. Under the deal, EU and U.S. authorities will lift requirements for reinsurers to hold more capital against risks if they operate from the other side of the Atlantic, eliminating one key hurdle for cross-border expansion. “This is a major deal that is set to benefit insurers, reinsurers and policy holders…

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EU, U.S. strike deal to boost transatlantic insurance market

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Takata to plead guilty, pay $1 billion U.S. penalty over air bag defect

January 15, 2017 by · Leave a Comment 

DETROIT/WASHINGTON (Reuters) – Japan's Takata Corp on Friday agreed to plead guilty to criminal wrongdoing and to pay $1 billion to resolve a U.S. Justice Department investigation into ruptures of its air bag inflators linked to at least 16 deaths worldwide. The deal was announced hours after prosecutors in Detroit charged three former senior Takata executives …

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Takata to plead guilty, pay $1 billion U.S. penalty over air bag defect

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Emission probes could widen beyond Renault in France: Minister

January 15, 2017 by · Leave a Comment 

A judicial investigation into diesel emissions testing in France could widen beyond Renault after tests showed other carmakers had exceeded the authorized levels, the French environment minister said on Sunday, without elaborating. Shares…

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Emission probes could widen beyond Renault in France: Minister

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Moody’s pays $864 million to U.S., states over pre-crisis ratings

January 15, 2017 by · Leave a Comment 

Moody's Corp has agreed to pay nearly $864 million to settle with U.S. federal and state authorities over its ratings of risky mortgage securities in the run-up to the 2008 financial crisis, the U.S. Department of Justice said on Friday. The credit rating agency reached the deal with the Justice Department, 21 states and the District of Columbia, resolving allegations that the firm contributed to the worst financial crisis since the Great Depression, the …

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Moody’s pays $864 million to U.S., states over pre-crisis ratings