International News

Aon Benfield Secures Reinsurance Capacity for AEGIS Cyber Offering

Aon Benfield announced that it has secured “the reinsurance capacity for a unique cyber product developed by the Lloyd’s syndicate of mutual energy insurer AEGIS London. “The product offers a comprehensive cyber risk management service, and allows AEGIS’ policyholders to …

UPDATE: Iceland Lowers Volcano Alert; Small Eruption No Threat to Aviation

Iceland reduced its aviation warning level to orange on Friday after concluding that a small eruption in the Bardarbunga volcano system that triggered a hours-long red alert actually posed no threat to aircraft. No sign of ash like that from …

Iceland Puts Airlines on High Alert after Volcanic Eruption

Iceland put airlines on the highest level of alert after authorities detected an eruption north of the Bardarbunga volcano. The Icelandic Met Office raised the alert over the site to red and flights have been banned below 5,000 feet, air …

Beattie to Head Miller’s Expanded Asia Construction Offering

UK-based broker Miller Insurance Services LLP announced that it has “implemented plans to grow its Asia construction book with the appointment of producer Paul Beattie as Head of Construction, Asia.” Beattie has over 20 years’ experience in production and broking. …

Undersea Search for Missing Malaysian Airliner Refined

The massive undersea search area for a missing Malaysian airliner in the southern Indian Ocean could be extended farther south based on new satellite analysis, only weeks before the multimillion dollar, yearlong sonar hunt for wreckage is due to begin, …

How Insurance Can (or Can’t) Help You – a True Story

When it comes to personal lines insurance there are really only two attachment points – acquiring the policy and making a claim. The first is fairly simple, although less so if you happen to be a young driver. It’s the …

Willis Re Strengthens Senior Management Team in Canada

Willis Re Inc., the North American reinsurance operation of Willis Group Holdings plc announced the appointment of Geoff Lubert as Managing Director and Executive Vice President of Willis Re Canada, replacing Robert Wildbore, who will be returning to the UK …

S&P Report Urges ‘Disaster Resilience’ with Governments for Reinsurers’ Growth

Standard & Poor’s Rating Services announced the publication of its “Global Reinsurance Highlights” to coincide with the 2014 Reinsurance Rendezvous in September. S&P described the report as providing “a detailed perspective on the market, focusing on the competitive pressures that …

Baloise of Switzerland Profit Jumps on Life Insurance Sales

Baloise Holding AG, Switzerland’s third-biggest insurer, said first-half profit jumped 43 percent, boosted by earnings from life insurance. The shares rose on expectations for a higher dividend. Net income increased to CHF349.9 million ($383 million) from CHF244.8 million [$268 million] …

Dutch SNS Reaal Expects Wide Interest for Insurance Division Sale

SNS Reaal, the Dutch financial services group nationalized last year, said international and domestic parties had expressed interest in its insurance operations which will go up for sale in September. The comments came as the financial services group, which was …

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