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” …
The run on British property funds has drawn attention to the vulnerability of the commercial real estate sector, largely funded by domestic banks and building societies but increasingly by foreign banks and insurers. UK banks and building societies had around …
The wildfires that tore across the oil-producing region of Canada this year will cost insurers about C$3.58 billion ($2.8 billion) in claims, the most costly insured natural disaster in the country’s history, an industry group said. The fires led to …
Marsh has appointed Jeremy Cooke as vice chairman of Global Placement, effective immediately. Based in London, Cooke will report to Dean Klisura, global head of Industry Specialties and Placement. In his new role, Cooke will focus on critical growth areas …
Hedge fund firms that set up reinsurance companies will struggle because too many rivals had the same idea and investment results have been disappointing, according to a report from S&P Global Ratings. Money managers entered the reinsurance business to gain …
Taiwan told schools and offices along its eastern coast to close early Thursday as Typhoon Nepartak threatens to unleash strong winds and heavy rain across the island through Friday. Airlines canceled or rerouted flights in and out of Taiwan. The …