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...The UK-Swiss deal is based on the mutual recognition of each other’s regulatory regimes and is intended to bolster the City of London in a post-Brexit era....
...The FOI did not include the number of unsuccessful claims but one insurance broker said the design of the scheme meant it could be difficult to get a payout....
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...Generali, Italy’s biggest insurer, has agreed its largest deal in a decade, buying a Madrid-based insurance group from US insurer Liberty Mutual for €2.3bn....
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...If San Francisco-based First Republic is taken over by the FDIC, it would rank among the biggest bank failures in US history, alongside Washington Mutual in 2008 and SVB....
...Greenwood has been at the company since 2000 and previously built up its commercial insurance division....
...The only bigger bank failure in US history was the collapse of Washington Mutual in 2008....
...“They took a whole bunch of companies that were regional-based banks and really created national franchises out of it,” said Chris Kotowski, banking analyst at Oppenheimer....
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...Lex points out that Lazard’s mix of volatile or out-of-favour businesses is not a great fit for the mutual funds that dominate public stock markets....
...One oil industry participant with knowledge of the situation said that Russian insurance companies had provided letters of confirmation to Turkish authorities in order to secure passage through Turkish waters...
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