Articles by Jonathan Saul and Carolyn Cohn

In Ukraine’s Bombarded Ports, Ship Buyers Scout for Deals

Since Russia invaded Ukraine two years ago, nearly 50 merchant ships have been languishing in its waters, stuck in ports too dangerous to sail from. But while these ships have not moved, some of their owners have changed, highlighting the …

Update: UK Insurer Direct Line Rejects Ageas’ Sweetened Buyout Proposal

Britain’s Direct Line said on Wednesday it had rejected a revised 3.17 billion pound ($4.06 billion) takeover bid from Belgian rival Ageas, repeating that it “significantly undervalued” the home and motor insurer. Direct Line, a household name in insurance in …

Zurich Insurance Reports Record Profit, Announces $1.25B Share Buyback

Zurich Insurance posted a better-than-expected annual operating profit on Thursday and announced a share buyback of up to 1.1 billion Swiss francs ($1.25 billion), as insurers ride out the impact of a global pandemic, wars and climate disasters. Operating profit …

Banks, Insurers Ordered to Report Sexism and Bullying Cases in Britain

Britain’s markets watchdog has ordered more than 1,000 banks, insurers and brokerages to report how many sexual harassment, discrimination and other non-financial misconduct cases they have recorded since 2021 and how they have dealt with them. The Financial Conduct Authority …

US, UK Ship Investors Hit by Soaring Red Sea Insurance: Sources

War underwriters have raised the premiums they charge to US, British and Israeli firms by as high as 50% for ships transiting the Red Sea and some providers are avoiding such business due to targeting of the vessels by Yemen’s …

Swiss Re, Others, Drop Call for Moscow Aviation Dispute Hearing

Swiss Re is among a growing list of reinsurers to drop its demand that a near $10 billion battle with aircraft leasing companies, seeking payouts for more than 200 jets stuck in Russia, should be heard in Moscow, court filings …

Storm Henk Causes Estimated £150 Million in UK Insured Losses: PwC

Storm Henk, which battered Britain last week, caused around 150 million pounds ($190 million) in insured losses and damaged around 2,000 properties, consultants PwC said on Wednesday. Heavy rain caused major rivers to burst their banks and the government issued …

Rising War Risks Prompt Insurers to Reassess Property Cover in Geopolitical Hot Spots

Insurers grappling with the rising risk of physical attacks on businesses due to war or civil disorder are reconsidering the breadth and scope of such cover in potential conflict hot spots. Political violence cover, which businesses can take out to …

Insurers Review Middle East Events Policies After War Leads to Cancellations

Some insurers are excluding Israel, Lebanon and other Middle Eastern countries from their event cancellation policies after the Israel-Hamas war resulted in some activities being pulled. European Aquatics last week called off the continental water polo championships, which was scheduled …

Lloyd’s to Invest $65M in Regions Affected by Transatlantic Slave Trade

Lloyd’s of London will invest 40 million pounds ($49.6 million) in regions affected by the transatlantic slave trade, it said on Wednesday, after a report showed the commercial insurance market had strong links to the trade. Lloyd’s will also spend …