International News

Chubb Focuses on Continental European SMEs with ‘Easy Solutions’ Proposition

Chubb has launched Chubb Easy Solutions, its proposition for brokers and their small and medium sized clients in Europe. Backed up by a dedicated underwriting team, Chubb Easy Solutions provides cover through a simplified underwriting process, enabling brokers to obtain quotes …

Cyber Bank Thieves Stole $12M from Ecuador Bank in 2015, Using SWIFT System

Shortly after 7 p.m. on January 12, 2015, a message from a secure computer terminal at Banco del Austro (BDA) in Ecuador instructed San Francisco-based Wells Fargo to transfer money to bank accounts in Hong Kong. Wells Fargo complied. Over …

Small Group of Bermudian Re/Insurers’ Drive Overall Q1 Premium Growth: S&P

At first glance, Bermudian re/insurance companies appeared to start the year with a bang, reporting a 21 percent increase in consolidated gross premiums written (GPW), according to a new report published by Standard & Poor’s. However, that picture is slightly …

Britain Would Face Trade Barriers if It Votes for Brexit: EU Financial Services Head

Britain would face trade barriers if it left the European Union and its single market, the EU’s financial services commissioner Jonathan Hill said on Monday. Hill, a Briton appointed to the European Commission by UK Prime Minister David Cameron, stepped …

XL Catlin Hires Newick as Leader for Energy, Property & Construction Claims

XL Catlin announced the strengthening of its insurance claims team with the appointment of Oliver Newick to the position of global practice leader for Energy, Property & Construction Claims. Newick joins XL Catlin from Liberty International where he held the …

Aegon, Transamerica Owner, Sells $4.4B UK Annuity Portfolio to Legal & General

Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., divested the final 3 billion pounds ($4.4 billion) of annuities from its U.K. portfolio to Legal & General Group Plc. The transaction, which covers 27,000 policyholders, will release another 275 …

Rio Olympics Will Proceed – Despite Zika Epidemic: Munich Re Underwriter

Should the Olympics proceed in Rio de Janeiro in August as planned? With the lighting of the torch set to take place in less than three months, a handful of medical experts are calling for the games to be postponed …

AXA to Stop Investing in Tobacco, Divesting $2B of Assets in that Industry

AXA SA, France’s largest insurer, said it will stop investing in tobacco and divest all of its 1.8 billion euros ($2 billion) of assets in the industry. AXA will sell about 200 million euros of stock in tobacco companies and run …

StarStone, Subsidiary of Enstar, Creates Australian Underwriting Hub

StarStone, the global specialty insurer and subsidiary of Enstar Group Ltd., announced the creation of an underwriting capability in Australia.  The new hub will operate alongside Enstar’s existing Australian operation, subject to regulatory approval. StarStone Australia will be led by …

Update: Debris Found from Crashed EgyptAir Plane

Egyptian authorities said they found wreckage and belongings from the missing EgyptAir plane that vanished en route from Paris to Cairo with 66 people on board, marking the first breakthrough in the investigation. Egyptian military aircraft and naval ships Friday …

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