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AllianzAG

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Reinsurer SCOR tightens oil sector cover over carbon emissions

* SCOR to stop reinsuring most new oil projects from 2023 * Plans to double coverage of low-carbon energies by 2025 * NGOs say SCOR policy is not as ambitious as competitors By Simon Jessop and Tassilo Hummel LONDON, May 18 (Reuters) - SCOR SCOR.PA , the world's fourth-biggest reinsurer, said on Wednesday it would stop covering new oil field produc
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Reinsurer SCOR tightens oil sector cover over carbon emissions

* SCOR to stop reinsuring most new oil projects from 2023 * Plans to double coverage of low-carbon energies by 2025 * NGOs say SCOR policy is not as ambitious as competitors By Simon Jessop and Tassilo Hummel LONDON, May 18 (Reuters) - SCOR SCOR.PA , the world's fourth-biggest reinsurer, said on Wednesday it would stop covering new oil field produc
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New York Times business news - May 18

May 18 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. - The Biden administration is expected to begin blocking Russia from paying American bondholders next week, increasing the likelihood of the first default of Russia's foreign debt i
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Architect of Allianz fraud made $60 mln as he lied to investors, U.S. says

By Tom Sims, Alexander Hübner and John O'Donnell FRANKFURT, May 17 (Reuters) - The star portfolio manager at the centre of a fraud at the U.S. funds unit of Allianz SE ALVG.DE relied on the German insurer's good name to lure investors and thrived from a lack of oversight as he pocketed $60 million in pay, U.S. authorities said. Gregoire "Greg" Tou
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Allianz to pay $6 bln in U.S. fraud case, fund managers charged

By Tom Sims, Alexander Hübner and Jonathan Stempel NEW YORK/MUNICH, May 17 (Reuters) - Germany's Allianz SE ALVG.DE agreed to pay more than $6 billion and its U.S. asset management unit pleaded guilty to criminal securities fraud over the collapse of a group of investment funds early in the COVID-19 pandemic. Allianz's settlements with the U.S. De
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