Financial Services – Page 19
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More due diligence needed
Firms are often ‘blissfully unaware’ of the range of risks that threaten the viability of their investments, say consultants
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Online onlyCrisis pushes UK deeper into recession
UK economy is expected to contract by 3.3 % and unemployment to reach close to 2.9m by the end of the year, says CBI
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HBOS risk boss was ignored
A senior risk officer warned that the bank was moving too fast but he was ignored
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FSA raised risk concerns before HBOS whistleblower
The UK regulator said it warned the bank about risk controls 2 years before a regulatory risk boss
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AIG investments took additional risks
At one stage AIG Investments was putting around $70bn into subprime bonds, according to a report
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Online onlySlow growth for Euro insurers in 2009
Further write-downs are expected and certain lines will be curtailed, according to Ernst & Young
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Klaus Schwab delivers Davos speech
The world is experiencing a wake-up call to overhaul its institutions, systems and attitudes, claimed the World Econommic Forum’s founder
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AIG seeks to sell investment arm
Sources have revealed that the ailing insurer is trying to sell AIG Investments, according to news reports
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AnalysisBanks need better risk info
The ability to successfully document a risk profile could help banks manage their risks properly, says Mikael Krohn
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Authorities uncover another massive Ponzi scheme
The owner of Agape World has been charged with running a $370m fraud scheme
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Online onlyRisk still ignored in the boardroom
Risk management still seen as a compliance function in the majority of firms, despite the credit crunch, finds E&Y study.
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AnalysisWhat’s in store under Obama?
More bailouts, social programmes and renewed diplomacy, says Exclusive Analysis
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Online onlySwiss insurers stand firm
The insurance market in Switzerland has coped well with the difficult economic environment, according to the country's trade association
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SIFMA welcomes financial intervention package
Package includes a number of specific initiatives to help increase lending
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AnalysisRisk governance is the way forward
For risk management to work it needs to be focused strategically and not ignored as a back office function, say the authors of Global Risks 2009
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AnalysisAon’s bribery fine is a major milestone
But UK authorities have a long way to go to match their US counterparts
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Q4 worst quarter for dividends since 1950s
More public companies decreased their dividends
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AnalysisThe year ahead
Resource shortages and the impact of the financial crisis are likely to be the big risks in 2009, says Control Risks
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Online onlyUS P&C income declines 92%
Deteriorating underwriting and investment results hit the industry hard
