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The UK's Serious Fraud Office (SFO) recently tried to reinvigorate activity around the Bribery Act.1 It warned companies and banks that if they fail to prevent financial crime by their staff, they could face great fines and official blacklisting from European contracts. This proposed amendment put forward by the SFO would give the UK powers to take direct action against corporates, enabling it to levy US-style fines and brand them with assisted bribery. And so organisations need to ensure that awareness of and compliance with the Bribery Act is part of their risk analysis and mitigation activities – and they should start by looking at their data. [Copyright &y& Elsevier]

The article offers a comparison between conventional and nickel-phosphorus (Ni-P) electroless nickel systems. It notes the requirements defined in the European Union's Restriction of Hazardous Substances (RoHS) and End of Life Vehicle (ELV) directives and the U.S.'s National Sanitary Foundation Standard for Food Materials. It mentions EN's excellent corrosion protection and wear resistance properties and the advantages its multi-alloy deposits. Other new applications for EN are also included.

Germany, Italy and the Netherlands lack natural catastrophe schemes, but an AM Best report suggested providing something comparable to the UK's Flood Re backstop. [ABSTRACT FROM AUTHOR]

While run-off firms are claiming Solvency II is responsible for the recent flourish of legacy deals, Compre's Nick Steer argues that that is not the only factor giving his business a boost. [ABSTRACT FROM AUTHOR]

Legacy is experiencing a new golden age in Europe, as Solvency II capital requirements are pushing re/insurers to dispose of old business. [ABSTRACT FROM AUTHOR]

The article discusses the growth of run-off insurance specialists in Europe in 2016. Topics covered include the positive impact of the Solvency II legislative program on run-offs, insurance firms' realization that old liabilities carry unwanted servicing and capital costs and Enstar's launch of a 1.1 billion dollar run-off deal in February 2016.

The article reports that Solvency II legislation has been gold plated by supervisors based on a survey conducted by the European Insurance and Reinsurance Federation in November 2015. Topics covered include the survey covering companies that account for 92% of European insurance premiums, the survey's finding that about 25% of members states were raising Solvency II requirements, and respondents' perception of governance, risk monitoring and identification processes.

The article presents a forecast from rating agency Moody's which indicate a slowdown in financial deleveraging trend in the European re/insurance industry in 2015. Factors to the predicted increase in debt issuance over the next two years include improvement of return on equity, favorable credit market conditions, and increased merger and acquisition (M&A) activity. It attributes the potential increase in financial leverage to the implementation of Solvency II Directive in Janaury 2016.

ILS funds are finding it difficult to penetrate European markets, so are using traditional reinsurers to gain access, said Willis Re's Dirk Spenner. [ABSTRACT FROM AUTHOR]

The pricing floor has been reached in the German non-life reinsurance market, according to Achim Bosch, executive director of General Reinsurance AG, and the market is storing up problems for itself that will be magnified by the low interest rate environment. [ABSTRACT FROM AUTHOR]

Opening an office in Zurich will allow Peak Re to be "close to markets we look to be in for the longer term", said CEO Franz Hahn. [ABSTRACT FROM AUTHOR]

The article reports the claim by the federation Insurance Europe that the insurance industry in Europe had 9.9 trillion euros of assets under management (AUM) in 2014. Also cited are the comment by Insurance Europe's Michaela Koller on the effect of the Solvency II directive on the sector's AUM, the European Union (EU) Investment plan, and the total European gross written premiums (GWP) as a percentage of gross domestic product (GWP).

The consequences of a Greek exit from the eurozone could be catastrophic for Greece's economy, cutting GDP by perhaps 20%, while many European insurers have already cut back on exposures and investment risks inside Greece, said S&P. [ABSTRACT FROM AUTHOR]

The article reports on the profits posted by Nike Inc. in the second quarter ended November 30, 2009. The company's profits rose by 9%, with an increase of $391 million in its net income. President of Nike Mark Parker stated that the profits reflects the diversity of products offered by the company in the power of its brand. Nike's sales in Europe grew 6% to $1.3 billion and Asia-Pacific sales climbed 22% to $821.4.

The article reports on the financial performance of Nike Inc. in the third quarter ended February 29, 2008. The company reported a 32% increase in its third-quarter earnings primarily attributed to the growth across all regions. Sales for the quarter grew 16 percent to $4.54 billion from $3.93 billion. Growth in the Asia-Pacific region of 27 percent to $748.3 million led the sales increase, along with Europe's 23 percent gain, to $1.4 billion. Nike also recorded changes in its other business sector.

This article reports on the approval of Terry J. Lundgren, chairman and chief executive of Macy's Inc., to the appointment of designer Isaac Mizrahi to the creative director post at Liz Claiborne Inc. He will be in charge of creative direction for women's sportswear, accessories and licensed products, beginning with spring 2009. In Europe, bringing in big-name design talent has long been a recipe to the ongoing success of fashion houses, as evidenced by the relationship between Chanel and Karl Lagerfeld.

The article discusses the issues on patent systems in the U.S. and Europe. According to the author, the inherent tension between new and old industries like information and communications technology (ICT) and pharmaceuticals contributes problems for a global implementation of the system. The rate that inventors apply for patents is outpacing at which they can be processed, leaving the offices swamped and the applications vulnerable.