International News

Captive Manager Marsh IAS Promotes 2 Senior Leaders in Bermuda

Marsh IAS has appointed Jill Husbands as chairman of Marsh IAS Bermuda and Lawrence Bird as head of office in Bermuda. Husbands succeeds David Ezekiel who retired on Dec. 31, 2015. Husbands will focus on strategic growth initiatives and key …

Munich Re Issues First Quarter Profit Warning on Lower Equity Investments

Munich Re, the world’s second-biggest reinsurer, fell the most since August 2013 after saying first-quarter profit will be lower than it previously expected. Earnings for the quarter will also be lower than a year earlier after market turmoil caused the …

Global Insurance Fintech Investment Grew by 237% in 2015: Accenture Research

While insurance historically has been a laggard in the fintech race, it is increasingly a high-growth investment area in the fintech field, according to research from Accenture. Accenture’s fintech research reveals that the overall increase in global insurance investment levels …

Aon Launches Next Generation of ReMetrica for Risk & Capital Modeling

Aon Benfield, the global reinsurance intermediary and capital adviser of Aon plc, has launched ReMetrica Version 7.0 – its next generation platform for risk and capital modeling. Following Solvency II and equivalent regulation, insurers are demanding more value from their …

Global Risk Partners Backs LONMAR’s MBO, Supporting Its Growth Strategy

Global Risk Partners, the acquisitive insurance broking and managing general agency (MGA) investment vehicle, has agreed to back the management buyout of LONMAR GLOBAL RISKS, the specialist Lloyd’s broker. The transaction is subject to regulatory approval. LONMAR’s management team, led …

Mitsubishi Motors Faces Uncertain Future as Fuel Test Scandal Deepens

For the second time in about a decade, Mitsubishi Motors Corp. faces a scandal that poses an existential threat. The Japanese automaker has improperly tested the fuel economy of its cars for the past quarter century, widening the scope of …

Aspen Re Appoints Cardona as Managing Director for Latin America & Caribbean

Aspen Insurance Holdings Ltd. announced that its reinsurance segment, Aspen Re has appointed Hugo A. Cardona as managing director for Latin America and Caribbean. Cardona will join Aspen on May 2 from Odyssey Reinsurance Co. where he was chief underwriting …

Japan Aims to Beef up Nuke Safety Check Competency After Bad Review

Japanese nuclear regulators said Monday they will revise laws, nearly double inspection staff and send some inspectors to the U.S. for training to address deficiencies cited by the International Atomic Energy Agency. The Nuclear Regulation Authority announced the plans in …

Reconstruction of Quake-Damaged Heritage Sites Begins in Nepal

Nepal’s prime minister announced this week the start of reconstruction of key heritage sites in and around the capital that were damaged by an earthquake that killed nearly 9,000 people and devastated the country one year ago. Prime Minister Khadga …

Economic Property Damages of Japan Earthquakes to Cost $2.5B-$3.5B: RMS

RMS, the Newark, Calif.-based catastrophe risk management firm, estimated that economic property damage for both the April 15 moment magnitude (Mw) 7.0 earthquake and April 14 Mw6.4 earthquake in Japan’s Kumamoto Prefecture to be between $2.5 billion and $3.5 billion. …

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