International News

Aviva Sells Spanish Venture Stake after Tribunal OK’s Deal

British insurer Aviva is selling its stake in joint venture CxG Aviva for €287 million ($369 million) to venture partner Novacaixagalicia (NCG) Banco after a Spanish tribunal ruling cleared the way for a deal. The cash deal is expected to …

Willis Launches Medical Plans for Expat Employees

Willis Employee Benefits Limited, part of Willis Group Holdings plc, has partnered with Now Health International and Healix International to offer affordable medical plans for clients with fewer than 99 expatriate employees. A special feature of the medical plan is …

Competitive Pressures Mount for Reinsurers

Reinsurers are being squeezed by price competition and subdued demand from insurers for their products, and traditional mergers may not be enough to save those that lack either global reach or specialized focus. Medium-sized, “me-too” reinsurers are ripe for consolidation, …

Litmus Analysis’ Shipperlee Explains Current Re/Insurance Ratings

As the former head of A.M. Best in London, and a senior executive with Standard & Poor’s, Litmus Analysis Senior Partner Stuart Shipperlee has a very complete knowledge of what re/insurance company ratings are, and, perhaps more importantly, what they …

Swiss Re Eyes Specialty Lines to Counter Reinsurance Slump

Swiss Re Ltd., the world’s No. 2 reinsurer, is cutting back on catastrophe coverage and moving into new lines of business as low interest rates and fewer natural disasters undercut prices. “The super profits from nat cat are probably over …

Swett & Crawford Expands Energy Practice Group

Swett & Crawford, headquartered in Atlanta, has formed a partnership with JH Blades, which will expand the capabilities offered by its Energy Practice Group. Operating as a coverholder and MGA, the Houston-based JH Blades underwrites upstream energy business both onshore …

Reinsurance Rendez-Vous: Data Tools Help Identify Risks

Insurance companies are increasingly turning to “big data” from satellites, social media and even cigarette sales at gas stations to help identify risks and build up customer profiles, according to reinsurers attending the annual Monte Carlo Reinsurance Rendez-vous this week. …

Tropical Storm Polo Follows Odile Track to Blast Baja California

Tropical Storm Polo, the 16th storm of an unusually active eastern Pacific hurricane season, is on a path eerily like that of Odile, which blasted the Baja California peninsula earlier this week. Odile went ashore late Sept. 14 with top …

CGSC’s Esser on Managing Wholesale Expansion and Growth

Cooper Gay Swett & Crawford’s CEO, Toby Esser, has had a busy year since we last spoke with him at the Reinsurance Rendezvous in Monte Carlo, but the company he heads (CSGC) is moving forward to realize cost savings from its …

Cleaning Up China’s Contaminated Soil: Who Pays?

Nearly four years after a massive state-run steel mill on the outskirts of Beijing was closed to help cut smog in the Chinese capital, little has been done to clean up the contaminated site. The factory’s idled chimneys dominate a …

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