International News

QBE Falls Most in 7 Months Amid 18% Profit Decline Forecast

Australia’s QBE Insurance Group Ltd. slumped the most in seven months after forecasting an 18 percent decline in first-half earnings due to higher claims in Latin America and competition with other insurers. Net income will drop to around $390 million …

Hiscox Writes Less Reinsurance as Competition Hurts Pricing

Hiscox Ltd. Chairman Robert Childs said the Lloyd’s of London insurer is writing less “big ticket” reinsurance as excess capital pushes rates lower. The second-largest Lloyd’s insurer by market value reported a 22 percent drop in gross written premiums at …

Best Affirms Lloyd’s, Lloyd’s (China) Ratings; Outlook Positive

A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of Lloyd’s and Lloyd’s Insurance Company (China) Limited (LICCL) (China). Best also affirmed the ICR of “a” of Society of Lloyd’s …

State Bank of India Mulls Share Sales in Insurance, Asset-Management Units

State Bank of India, the country’s largest lender, is considering share sales in its insurance and asset-management units to meet tighter capital requirements. “We are in talks with our joint-venture partners regarding the listing of the insurance units,” Chairman Arundhati …

Aon Plunges Most Since 2012 on Reinsurance Revenue Decline

Aon Plc, the world’s second-largest insurance broker by market value, fell the most since 2012 after revenue missed estimates as reinsurance sales declined. Aon slipped $4.65, or 5.1 percent, to $86.32 at 4:03 p.m. in New York, the biggest decline …

COMMENT: Time to be Afraid – Preparing for the Next Big Solar Storm: Kemp

The probability of a solar storm striking Earth in the next decade with enough force to do serious damage to electricity networks could be as high as 12 percent, according to solar scientists. One such storm erupted from the surface …

UK MGAA Membership Hits $5.6 Billion Premium Mark

MGA membership in the UK’s Managing General Agents’ Association (MGAA) now represents over £3.3 billion [$5.6 billion] of Gross Written Premium (GWP). Jonathan Evans MP, chairman of The All Party Parliamentary Group on Insurance and Financial Services, made the announcement at …

UPDATE: Bad Weather Likely Cause of Air Algerie Crash – French Officials

Poor weather was the most likely cause of the crash of an Air Algerie flight over the West African state of Mali with 116 people on board, French officials said on Friday. Investigators at the scene of the crash had …

Canada Transport Board Welcomes U.S. Oil-by-Rail Ideas; Warns Dangers Remain

The Transportation Safety Board of Canada on Thursday welcomed proposed U.S. regulations for oil-by-rail tankers, but cautioned of the persistent danger until tank cars built before 2011 stop carrying oil and other flammable liquids. The independent federal agency, which investigates …

Air Crashes Set 2014 on Course to Be Deadliest Since 2005

Three fatal airline crashes in a week mean 2014 is shaping up to become the worst year in almost a decade for passenger fatalities. The crash of a McDonnell Douglas MD-83 aircraft on the fringes of the Sahara desert yesterday …

International News Archives by Month