International News

Catlin’s COO Explains Group’s Focus on Relevance with Clients to Drive Growth

The Catlin Group’s roots go deep into the Lloyd’s market where it was formed 30 years ago. But Catlin has since become one of the most innovative companies in the global insurance hierarchy with offices in more than 50 cities …

Tropical Storm Polo Could Grow to Hurricane Off Mexico Coast

Tropical storm Polo could become a hurricane off Mexico’s Pacific Coast on Thursday the U.S. National Hurricane Center (NHC) said on Tuesday. On Tuesday morning Polo was about 275 miles (440km) south of Mexico’s famous beach resort of Acapulco and …

Encode Disaster Resilience in the Global Financial System: Willis Re Chairman

“Disaster resilience should be encoded into the global financial system,” said James Vickers, Chairman of Willis Re International, in an interview at the Reinsurance Rendezvous in Monte Carlo. “It’s a big opportunity for the insurance industry.” Vickers was addressing the …

Uber Wins Reversal of Germany’s Ban on Ridesharing App for Now

Uber Technologies Inc. won the reversal of a nationwide ban in Germany of the company’s ride-hailing app after judges said a group of taxi dispatchers improperly used emergency procedures to obtain the initial court order. While the judges still think …

Swiss Re, Munich Re Wade Into Dutch Flood Insurance

The world’s biggest reinsurers, pushed by rising competition in existing markets, are preparing to insure against Dutch floods, a peril that centuries of experience have warned most in the Netherlands against. Swiss Re Ltd., the No. 2 reinsurer, is ready …

Hurricane Odile Brings Storm Surge, Flooding to Mexican Peninsula

Hurricane Odile, the strongest to hit Baja California Sur in decades, weakened slightly as it battered the Mexican peninsula with high winds and rain. Odile went ashore near the resort city of Cabo San Lucas at about 10:45 p.m. Mexico …

Typhoon Kalmaegi Approaches Hong Kong

Hong Kong issued its third-highest storm signal for the first time this year as Severe Typhoon Kalmaegi sweeps past China’s financial center. The Hong Kong Observatory raised the No. 8 Storm Signal at 10:30 p.m. local time yesterday, according to …

‘Minimal’ Insurance Effect If Scotland Exits U.K., Says Lloyd’s of London Chair

Lloyd’s of London Chairman John Nelson said several years of uncertainty will follow if Scotland leaves the U.K. “The immediate effect would be a period of perhaps two years of uncertainty,” said Nelson, 67, in an interview from Monte Carlo …

Brit Launches Cyber Product for Critical Infrastructure, Industrial Machinery

Brit PLC, a global specialty insurer and reinsurer, has developed an insurance service to protect companies operating critical infrastructure and industrial machinery from terrorist and other malicious attacks, such as sabotage, espionage and theft. Critical infrastructure, operated through complex software …

UK to Issue First Renminbi Bond; Lloyd’s of London Gets OK for Beijing Branch

Britain will become first Western government to issue an offshore bond in China’s renminbi currency, finance minister George Osborne said on Friday, deepening efforts to build financial links with the world’s No.2 economy. News of the bond came after Britain …

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