The latest flooding in central Europe could cause economic losses ranging from several hundred million euros to billions, early estimates published on Monday found, as the region braced for more damage. Credit rating agency Morningstar DBRS estimates losses will range …
A turnaround in the personal lines insurance segment results was a key driver of an overall $3.8 billion profit from underwriting for the U.S. property/casualty insurance industry, according to a new report from AM Best. Best’s Special Report, titled, “First …
Taiwan’s financial regulator rejected on Monday a takeover attempt by financial conglomerate CTBC of rival Shin Kong saying its plans were incomplete. CTBC made an unexpected bid for Shin Kong last month, upending a proposal for Shin Kong to merge …
Private equity firms have changed the business models of life insurers they invest in, posing risks that are more likely to materialize with higher interest rates, according to researchers at the Bank for International Settlements. Buyout firms channel the insurance …
The strongest typhoon in more than seven decades has struck China’s financial hub, leading to widespread flight cancellations and disrupting holidaymakers at the start of a days-long national festival. Typhoon Bebinca — known as Beibijia in China — crossed the …
The European Union’s naval force said it managed to connect tug boats to a burning oil tanker in the Red Sea, and that the vessel is now being towed away. “The tug boats have successfully connected to the vessel and …
Britain’s data centers will be classified “critical national infrastructure,” the government said on Thursday [Sept. 12], giving the servers and IT systems that underpin the country’s communications extra protection from cyber-attacks. Britain said the move would reassure companies building data …
Elon Musk, owner of social media platform X, on Friday [Sept. 13] called Australia’s center-left government “fascists” over proposed legislation to slap fines on social media firms for failing to prevent the spread of misinformation online. Australia’s Labor government on …
Florida and much of the country face a real estate crash unless government officials deal with climate change, members of Congress said at a roundtable discussion Saturday in St. Petersburg. U.S. Sen. Sheldon Whitehouse, D-R.I., chair of the Senate Budget …
This edition of International People Moves details appointments at Allianz Global Corporate & Specialty SE (AGCS), The Ardonagh Group, and Carbon Underwriting. A summary of these new hires follows here. Lillelund Named CEO of AGCS and Allianz Commercial Allianz Global …