Switzerland has instructed Credit Suisse to cancel or reduce by 50 or 25% all outstanding variable renumeration for the top three levels of management, the Swiss Federal Council said in a statement on Wednesday.
Insurers will only be willing to cover ships sailing through a proposed corridor to get Ukrainian grain out if there are arrangements for international navy escorts and a clear strategy to deal with sea mines, underwriters and brokers say.
Exor, the holding company of Italy's Agnelli family, has restarted talks with French insurer Covea over a possible sale of reinsurer PrtnerRE, Il Sole 24 Ore reported on Saturday, after the deal was scrapped last year due to the pandemic.
British ships ferried over 3 million enslaved African people across the Atlantic Ocean. Lloyd's of London insured many of those vessels, the people chained below deck sometimes categorized as “perishable goods”, alongside cattle, by the market's underwriters.