International News

Saving Coral Reefs Requires ‘War’ on Global Warming: Study

Reducing pollution and curbing overfishing won’t prevent the severe bleaching that is killing coral at catastrophic rates, according to a study of Australia’s Great Barrier Reef. In the end, researchers say, the only way to save the world’s coral from …

EU Weighs Lowering Regulatory Requirements for Fintech Firms

The European Commission is considering lowering regulatory requirements for financial technology services firms, to spur innovation and cut costs for consumers, the EU executive’s vice president suggested on Thursday. “Fintech” firms use modern technology to compete with traditional financial services …

AIG Seeks Best Drivers in Singapore with New Smartphone App

AIG Asia Pacific Insurance Pte. Ltd. (AIG Singapore) has launched a nationwide search to find Singapore’s best drivers with “AIG On the Go,” a telematics-based smartphone application. “AIG On the Go” scores drivers’ performance every time they get behind the …

Neon Launches Marine & Offshore Construction Consortium

Specialist Lloyd’s underwriter Neon has launched a Marine and Offshore Construction Consortium. Seeking to address the increasingly tailored insurance needs of shipyard clients, the Neon led-consortium offers $70 million capacity for shipyard construction and $55 million for rig construction, said …

XL Catlin Appoints QBE’s Tuplin as Head of Cyber & TMT, International

XL Catlin’s insurance operations has appointed James Tuplin as head of Cyber and Technology, Media & Telecoms (TMT), International. In this role, Tuplin is responsible for the underwriting of cyber insurance, as well as professional indemnity insurance for the technology …

Parliament Reopens After London’s Worst Terror Attack in More Than 10 Years

Parliament got back to work on Thursday after London’s worst terror attack in more than a decade left four people dead, including the assailant and the police officer he stabbed. Lawmakers, and those investigating the crime scene outside, held a …

Swiss Re Names Mitchell as Head of Property & Specialty Reinsurance

Swiss Re announced that Mike Mitchell, currently head Property Underwriting and Property & Casualty Facultative, Asia, will succeed Edouard Schmid as Swiss Re’s head Property & Specialty Reinsurance, effective July 1, 2017. He will also serve as a member of …

R&Q Acquires Captive Insurer from Fortune 500 Engine Manufacturer

Randall & Quilter Investment Holdings Ltd. (R&Q) announced the acquisition of ICDC Ltd., a captive insurer of an American Fortune 500 company, for an undisclosed sum. The name of the former parent of the captive was not released. The company, …

RSA Begins Trading on London Market Placing Platform, PPL

International insurer RSA has begun trading on the London insurance market’s electronic placing platform, PPL (Placing Platform Ltd.), which enables brokers and underwriters to quote, negotiate, bind and endorse business using one market-wide system. RSA’s Profin underwriting team is now …

Higher Arctic Temperatures Likely to Shift Global Weather in 2017: WMO

Unusually warm weather in the Arctic is helping shift weather patterns this year from North America to the Middle East, after global warming shattered records in 2016, according to the World Meteorological Organization. Rising ocean temperatures that are melting polar …

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