The $30 trillion global pension fund industry is starting to muscle in on traditional reinsurers, financing protection against earthquakes and tornadoes as interest rates near record lows spur the search for yield.
Hammerson Plc Chairman John Nelson is the preferred candidate for the job of Chairman of Lloyd’s of London, the world’s biggest insurance market, replacing Peter Levene when he steps down later this year, Sky News City Editor Mark Kleinman reported on his blog on the Sky website, citing people familiar with the appointment process. The appointment could be ratified by the reinsurance market’s council as early as this month, Kleinman said, citing the people.
Freshman applications to many U.S. colleges and universities are rising this year, fueled by a surge of international students, even as costs increase and the number of U.S. high school graduates declines.
Pennsylvania State University, after years of skirting public-school rules, may claim protection from liability under commonwealth laws that shield government entities, if it faces suits related to a child-sex scandal.
Harvard University, Yale University and Stanford University, with combined endowments about equal to the gross domestic product of Lithuania, are among 15 of the wealthiest colleges and universities that borrowed $7.2 billion because their highbrow investing left them suddenly strapped for cash.