International News

MGA Globe Underwriting Launches Marine Division with UK, Int’l Focus

Globe Underwriting, the UK-based managing general agent, has announced the launch of its marine division. The five-strong team is led by Peter Rogers, head of marine, and David Dymond, head of underwriting. They will report to Gary Corke, CEO, Globe …

A.M. Best Places Ratings of Sompo Japan Canopius Re Under Review

A.M. Best has placed under review with developing implications the financial strength rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Zurich-based Sompo Japan Canopius Reinsurance AG. The credit rating action follows the successful completion the …

Insured Losses for Europe’s Windstorm Thomas Rise to $279.2M: PERILS  

The latest property insured loss estimate for Windstorm Thomas, which on Feb. 23-24 hit the British Isles, the Netherlands, Belgium and Germany, is €249 million (US$279.2 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. …

Uber Drivers Arrested in Hong Kong for Driving Without Insurance

Hong Kong police on Tuesday arrested 21 Uber drivers for illegal car-hiring as part of a clamp down against Uber Technologies Inc.’s operations in the Asian financial city. The arrests marked the latest upset for the San Francisco-based technology company, …

China Firms View Political Risks as Top Concern for Belt & Road Project

As the global limelight fades from President Xi Jinping’s “Belt and Road” summit, the main actors — Chinese state-owned companies — are warning about the political risks they face along the route. Earlier this month Xi outlined plans to direct …

Britain Reels from Suicide Attack; Children Among 22 Dead

Britain is reeling from last night’s terror attack that killed 22 people at a concert by U.S. pop star Ariana Grande in the northern city of Manchester. It bore all the hallmarks of a suicide bombing and children are among …

Petplan Australasia Announces Affiliation with MS Amlin

Petplan Australasia announced that MS Amlin Syndicate 2001 of Lloyd’s will become the new underwriter of its pet insurance plans in Australia – a move that is designed to enhance policyholder benefits with broader coverage and more plan choices. Petplan …

Underwriting Agency, CFC, Partners with Kidnap Response Expert EOS Risk

Lloyd’s managing general agency CFC announced it has formed a partnership with risk management and security consultant, EOS Risk. EOS Risk joins red24 and S-RM on CFC’s panel of security companies that specialize in global kidnap and extortion incidents. “Highly …

UK Firms Choosing Luxembourg as Brexit HQ May Find Lifestyle Differences

Little Luxembourg is luring firms on the lookout for a post-Brexit foothold in the European Union, from JPMorgan Chase & Co. to insurance giant American International Group Inc. While many find the Grand Duchy a multilingual paradise, would-be expats are being warned …

Crewless Ships: Safer, Faster, Cleaner, Cheaper Future of Shipping – Opinion

It sounds like a ghost story: A huge cargo vessel sails up and down the Norwegian coast, silently going about its business, without a captain or crew in sight. But if all goes as planned, it’s actually the future of …

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