The COVID-19 crisis cost 16 global multiline insurers about $8 billion in 2020, although they still reported substantial net profit of $36 billion, according to a report published by S&P Global Ratings. This net profit figure was down from $56 …
SYDNEY – Australia is considering capping fees for litigation funders and lawyers, and guaranteeing a minimum rate of return for plaintiffs, in its latest clamp down on the industry following a surge in costly class action lawsuits. Australia’s government last …
When India’s weather office sent out cyclone warnings on May 13 and most vessels moved to safety, one barge working on Oil and Natural Gas Corp.’s field off the Mumbai coast stayed put. That decision would prove fatal when Tauktae, …
France’s financial markets regulator dismissed market abuse charges, which had been filed against SCOR’s Chairman and CEO Denis Kessler by the reinsurer’s largest shareholder, Covéa. The investigation “does not support allegations of market abuse,” said a statement issued by “Autorité …
LONDON – A Dutch court’s decision to force Royal Dutch Shell to make deeper, faster cuts to its climate warming emissions on the basis of human rights could set a precedent, especially in European countries, according to lawyers and activists. …
CHENNAI – Automaker Renault-Nissan will shut its plant in India’s southern Tamil Nadu state until May 30, according to an internal note and two sources familiar with the matter, a day after workers said they would strike over coronavirus-related safety …
BHUBANESWAR, India – Storm surges inundated dozens of villages in eastern India on Wednesday after a powerful cyclone moved inland from the Bay of Bengal, damaging thousands of mud homes in two coastal states and killing at least one person, …
Systems are still down a week after a ransomware attack disrupted the IT network of five hospitals in the New Zealand district of Waikato, and concerns remain that private patient information may have been exposed. Patients are being asked to …
This wrap-up of international People Moves details recent appointments at Ballantyne Brokers; Trust International Insurance and Reinsurance Co., and specialty re/insurer Chaucer. A summary of these new hires follows here. Ballantyne Brokers Ltd., the independent London broker, announced the appointment …
The biggest shareholder in Nordea Bank Abp offloaded another chunk of its stake as it moves ahead with a planned exit from the Nordic region’s largest bank. Sampo Oyj sold 162 million shares in Nordea to institutional investors for 8.50 …