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General Electric seeks to divest itself of insurance business

May 25, 2018May 24, 2018 Nordstrom

GE wants to step away from the long term care insurance that is now costing it far too much. General Electric Co. is currently seeking to unload its troubled insurance business. The American multinational conglomerate has been working with investment bankers to identify opportunities. The company’s insurance branch took on a wealth of expenses following shareholder lawsuits. GE’s insurance business was required to cover extensive charges at the same time it faced lawsuits from its shareholders. The company was also the subject of an investigation by United States regulators, according…

Shipping insurance ban may not have an impact on the oil market

June 19, 2012 Nordstrom

Sanctions loom but analysts suggest a modest impact In approximately two weeks, the European Union will enact sanctions against Iran that will ban insurance companies from providing coverage for ships carrying oil that was produced in the country. The sanctions have proven to be a controversial topic for many countries that rely heavily on the oil produced in Iran. They have also managed to catch the ire of the shipping insurance industry, 95% of which is based in the United Kingdom. Insurers and politicians have argued that the sanctions will…