Democrats on the U.S. Senate Budget Committee launched an investigation on Friday into major insurers' "support" of new fossil fuel projects, on the heels of an industry retreat from areas prone to climate risks.

Democrats on the U.S. Senate Budget Committee launched an investigation on Friday into major insurers including American International Group and Travelers Companies, pressing them on their "support" for new fossil fuel projects.

Turkey's new central bank governor Hafize Gaye Erkan faces the tough task of alleviating a bruising cost-of-living crisis while hoping to restore investor confidence at home and abroad after years of unorthodox policymaking.

Italy's BPER Banca and its main shareholder on Friday denied any interest in a merger with Banca Monte dei Paschi (MPS), joining peers that have distanced themselves from the state-owned bank, which is seeking a partner.

The rescue of Eurovita requires that banks involved in distributing the troubled life insurer's products provide zero-rate financing in case of early redemptions of its products, the chairman of insurer UnipolSai said. (Reporting by Gianluca Semeraro; editing by Valentina Za)

The chairman of Unipol , a leading investor in Italy's BPER Banca, said on Friday that the lender is not interested in a merger with rival Monte dei Paschi.

President Tayyip Erdogan on Friday appointed Hafize Gaye Erkan, a finance executive in the United States, to head Turkey's central bank, which is widely expected to reverse course and tighten policy after years of rate cuts and a simmering cost-of-living crisis.

Italian authorities may extend a temporary suspension of early redemption of ailing life insurer Eurovita's products beyond the June 30 expiry, a consumer association said on Thursday after a meeting with the company's special administrator.

Japanese insurer Tokio Marine Holdings has picked Goldman Sachs and Jefferies to work on the sale of its Southeast Asia life insurance business worth $1 billion, two sources with knowledge of the transaction said.

Hamilton Insurance Group is considering strategic options amid growing momentum for deals involving insurance and reinsurance companies, people familiar with the matter told Reuters.