International News

Gen Re Announces Senior Appointments in Asia Pacific

Berkshire Hathaway’s General Re has announced a number of senior appointments in the Asia Pacific region, as follows: Pietro Toffanello will assume the role of Property/Casualty Regional Manager for Asia Pacific, in addition to his role of Managing Director of General …

S&P Scores Global P/C Reinsurance Sector Risk As ‘Intermediate’

Standard & Poor’s Ratings Services has issued an intermediate insurance industry and country risk assessment (IICRA) score on the global property and casualty reinsurance sector. The report “Insurance Industry And Country Risk Assessment On The Global Property/Casualty Reinsurance Sector” gives …

More Data Can Increase Hurricane Exposure Understanding: ImageCat

According to Gavin Lewis, commercial director of ImageCat, a US and London based risk management provider, “even in the middle of hurricane season, catastrophe risk managers can improve their understanding of their exposures through better data analysis. He noted that …

Allianz Backs ‘Legend’ Gross as Pimco Total Return Fund Lags Behind

Allianz SE, Europe’s biggest insurer and owner of Pacific Investment Management Co., is standing by Chief Investment Officer Bill Gross as his main fund trails peers and struggles with a record streak of investor redemptions, calling him an industry “legend.” …

Typhoon Rammasun, Strongest Storm in Decades, Kills 18 in China

The strongest typhoon to hit southern China in four decades has killed 18 people, the government said Sunday, while in the Philippines the death toll from the storm’s earlier destruction rose to 94. Typhoon Rammasun killed nine people and left …

Smart Meters Pose New Risks for Energy Industry

Last November, Felix Lindner came very close to shutting down the power supply of Ettlingen, a town of almost 40,000 people in the south of Germany. “We could have switched off everything: power, water, gas,” Lindner, head of Berlin-based Recurity …

Typhoon Rammasun Poised to Strike Hainan Province in China: AIR

According to catastrophe modeling firm AIR Worldwide, after striking the Philippines with high winds and floods, “a strengthening Typhoon Rammasun is set to make landfall in China between 6 and 12 UTC on July 18, 2014, as a strong tropical …

Malaysia Airlines Plane Crash Insurance May Pose Quandary

Insurance on the Malaysian airliner brought down over Ukraine on Thursday is likely to pay out relatively quickly, provided that the cause of the crash is firmly determined, but observers say the loss of of 295 lives [corrected to 298] …

Allianz Is Lead Reinsurer of $97.3 Million in Ukraine Plane Crash

Allianz SE is the lead hull and liability reinsurer on a Malaysia Airlines passenger jet that was shot down over eastern Ukraine. The aircraft’s value is about $97.3 million, London-based insurance broker Aon Plc, which tracks the market for aviation …

GFIA Supports Business 20 Initiatives to Promote Economic Growth, Stability

The Global Federation of Insurance Associations (GFIA) has issued a bulletin noting the organizations support for the “recommendations made by the Business 20 (B20) group on how private sector activity and investment can help the Australian G20 Presidency meet the …

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