International News

China Seeking “Win-Win” Climate Plan; Poised for Pledge

China is seeking a fair, global system to tackle climate change and is about to make a joint announcement on the environment, Chinese Premier Li Keqiang said before a summit in Brussels with top European Union officials on Monday. Expectations …

AeroMexico Dreamliner Makes Emergency Landing in Ireland

A Boeing 787 Dreamliner en route from Mexico City to Paris made an emergency landing at Ireland’s Shannon Airport on Monday and all 193 people on board disembarked safely, a spokesman for the airport said on Monday. Mexico’s Aeromexico said …

Steve Hearn to Leave Willis for CEO Role at Cooper Gay Swett & Crawford

Willis Group Holdings has confirmed that Deputy CEO Steve Hearn has decided to leave the company and will take up the role of CEO at Cooper Gay Swett & Crawford (CGSW) at the beginning of November. The move follows the …

Towergate Insurance Reports Q1 Net Income of $134 Million; Down 8%

Towergate Insurance reported first quarter income of £86 million ($134 million), down 8 percent from £93 million ($145 million) reported for the same period in 2014 – with its performance adversely affected by the group’s financial restructuring and change program. The …

Allied World Top Backer of Puerto Rico Municipal Bond

Allied World Assurance Co. is the top backer of MatlinPatterson Global Advisers’ bets on Puerto Rico’s rebound, according to a person familiar with the arrangement. The insurer provided more than half of the $150 million that MatlinPatterson invested in the …

Global Insurance Regulators Postpone Tougher Capital Standards

Global insurance regulators will take more time than previously planned to address industry concerns before applying tougher capital rules to some of the largest companies they oversee. Capital rules for global insurers, known as the Insurance Capital Standard, or ICS, will be pushed back …

Towergate Hires Deakin as Retail Broking Director; Dalgarno as Chief Risk Officer

Towergate is creating a new retail broking division led by Janice Deakin, who will join the group as retail broking director on August 12, subject to regulatory approval. This division will encompass all the Towergate Insurance retail broking businesses, Towergate Insurance …

Reinsurance Market’s Evolution Could Affect Its Stability: ‘Acts of God’ Author

First of Two Articles The reinsurance market is moving from coverage of acts of God to one that covers commoditized risks – an evolution that could have long-term implications for market stability and trading large-scale risk, according to an industry expert …

EU Capital Markets Plan Must Improve Investor Protections: UK Regulator

The European Union’s plan for a unified capital market needs more work to protect investors from losses if it is to provide the economic boost policymakers’ are hoping for, a top British regulator said on Thursday. Martin Wheatley, chief executive …

DUAL Australia Launches Suite of Marine Products with New Team

DUAL, the underwriting arm of the Hyperion Insurance Group*, is delighted to announce the continued expansion of its global marine and energy practice following the launch of a marine offering at DUAL Australia Pty Ltd. DUAL Australia will now offer …

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