The world’s insurers, banks and pension funds are “inherently susceptible” to threats from climate change and must make adjustments, from shifting investment toward environmentally friendly industries to revamping strategies to reduce risk, said the Global Risk Institute. “Climate change is …
Economic losses caused by natural catastrophes in the first half of 2016 totaled US$70 billion, a significant increase from the $59 billion reported for the first half of last year, according to a loss review issued by Munich Re. While …
Berkshire Hathaway Specialty Insurance Co. (BHSI) is expanding its executive & professional lines capabilities in Asia with the introduction of Executive First™ Public Offering of Securities Insurance (POSI) and Executive First™ Side A Difference in Conditions (DIC) liability insurance. “We are …
Tokio Marine Kiln (TMK) has completed the final stage of its integration by restructuring its underwriting divisions along sector lines. The new structure will offer clients access to both Lloyd’s and company paper with underwriting divisions now capable of writing …
European insurers, whose profits are being eroded by Mario Draghi’s* quantitative easing program, face a stress test headache that risks requiring them to set aside more capital, further hurting their ability to make money. The timing of the regulator’s “stress …
Global oil and shipping markets reacted nervously on Tuesday after an international arbitration court ruled against Beijing’s claims across large swathes of the South China Sea, fueling geopolitical tensions in the vital waterway. A tribunal in The Hague, Netherlands, found …
Allied World Assurance Company Holdings AG announced that Allied World Europe has appointed Darren Jacobs as senior vice president, General Casualty. Jacobs will lead Allied World Europe’s primary and excess casualty operation in London. Jacobs has worked in the insurance …
Markel International, the specialist insurer, has appointed Andy Lane, senior underwriter, in its newly created marine equipment business, part of its marine, energy and property division. Lane joins David Stallard, underwriter, who started his role earlier in the year. With …
Cooper Gay* the London-based reinsurance, wholesale and specialty broker, announced the appointment of Kieran Angelini-Hurll as CEO of its reinsurance division. He takes up his new role on Sept. 1 and will report to Steve Hearn, group CEO. Angelini-Hurll brings …
Major floods across the globe during June – topped by events in China and the U.S. – are expected to bring economic costs in excess of US$5.0 billion, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. Seasonal “Mei-Yu” …