International News

S&P: Reinsurance M&A Will Be Driven by Berkshire Hathaway Model

Reinsurance M&A activity should continue well into 2016 as competitive pressures continue unabated, Standard & Poor’s said in a new report. The ratings firm said that the Berkshire Hathaways of the world – investment holding companies seeking to enter the insurance …

Allianz Invests in London’s $6.4 Billion ‘Super Sewer’, Thames Tideway Tunnel

A consortium, consisting of pension funds and other long-term investors represented by Allianz, Amber Infrastructure Group, Dalmore Capital and DIF, will invest up to £1.275 billion ($1.9 billion) in London’s “super sewer.” The consortium’s investment in the Thames Tideway Tunnel …

Troubled Irish Insurers Seek Solvency II Support From Bond Investors, Buffett

Investors hunting for yield after a global financial rout might well take a detour to the headquarters of a tiny insurance company hidden away along a highway in west Dublin. Just as world markets cratered on August 24, troubled Irish …

UK’s PI Insurance Sector Expected to Grow by Almost 6% Annually: Report

The professional indemnity and directors & officers insurance sector has grown constantly since 2012 and is expected to continue the upward trend until at least 2019, according to the findings of a new report by London-based business intelligence company, Timetric. …

Generali Signs Global Deal to Target High-Growth Markets via Smartphones

The Generali Group has signed a global deal with Obi Worldphones™, aiming to target, via smartphones, 20 high-growth markets with a prospective customer base of more than 10 million people. “This breakthrough deal with Obi Worldphones will allow Generali to …

China Detains Senior Officials, Port Executives After Deadly Explosions in Tianjin

China’s top prosecutor is holding 10 officials and port executives as well as a senior Transport Ministry official under criminal detention for alleged neglect of duty and abuse of power in the Tianjin warehouse explosions that killed at least 139 people, the …

UK’s Towergate Reports H1 Before Tax Loss of $88.8M, vs. $23M Profit in H1 2014

Towergate Insurance, the UK insurance intermediary, reported a before tax loss of £58 million ($88.8 million) during the first half, compared with a £15 million ($23 million) before tax profit in the same period of 2014. The company reported income …

European Re/Insurers Well Positioned to Withstand Market Volatility: A.M. Best

European re/insurers are well positioned to withstand the current volatility in the stock markets, having made significant changes to their investment portfolios since the global financial crisis of 2008, as well as the subsequent European sovereign debt crisis in late …

RMS and Taiwan’s MSIG Mingtai Collaborate on Typhoon Risk Insights

RMS, the Newark, Calif.-based catastrophe risk management firm, has formed a technical collaboration with MSIG Mingtai Insurance Co. Ltd. to share industry information and insight about the local Taiwanese insurance market, as RMS develops a typhoon model for Taiwan. The …

UK Insurance & Finance Bonuses Well Below Pre-Recession Levels: Report

UK bonus payments rose in the past year and are now just 0.1 percent below their peak before the financial crisis in 2008, according to new data from the statistics office. Surprisingly, the increase wasn’t driven by banking, which has …

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