International News

ACE Strengthens Nordic Financial Lines Team

ACE Group today announced a promotion and a new appointment in its Nordic financial lines insurance team as it continues its investment in further strengthening its presence across the region. Kristina Engdahl has been promoted to the role of financial …

Hurricane Gonzalo Bears Down on Bermuda

The last major hurricane to strike land anywhere in the Atlantic basin was Sandy in 2012. That may change tomorrow as Hurricane Gonzalo bears down on Bermuda. Gonzalo again became a Category 4 storm today, the first since 2011, the …

German and French Insurance Markets Show Resilience

Despite varying internal pressures, the German and French insurance markets have shown resilience in their respective ways, according to two separate reports issued by A.M. Best. While Germany’s economy is among the strongest in Europe, its insurance market will continue …

South African Insurers Urge Mandatory Auto Insurance

South African insurers have called on the government to start compulsory motor cover to reduce the cost to motorists and companies from the country’s millions of drivers taking to the roads without protection. In South Africa “up to 60 percent …

Toyota Recalls 1.75 Million Vehicles Worldwide for Fuel, Brake Flaws

Toyota Motor Corp., the automaker under supervision in the U.S. by an independent safety monitor, recalled 1.75 million vehicles worldwide to fix flaws in the braking and fuel systems. The Lexus IS, GS and LS luxury sedans and Toyota Auris …

PwC: Climate Change Is Risk and Business Opportunity

Competition and regulation push companies to take action to protect themselves from the effects of climate change, not climate science, Jon Williams, partner at global consultancy firm PwC told the Reuters Global Climate Change Summit. Williams, who leads the finance …

A.M. Best: Prospects Improve for Insurers in ASEAN Market

While integration of insurance markets among the 10 member states of the Association of Southeast Asian Nations (ASEAN) has a long way to go, the prospects for closer connectivity in a region with vibrant growth give insurers and regulators incentive to …

Integrity of ‘Green Bond’ Market Could Be at Risk

The integrity of the fast-growing “green bond” market is at risk unless a clear definition of what passes for green can be agreed, Zurich Insurance’s investment chief told the Reuters Global Climate Change Summit. The supply of green bonds, a …

W. Africa Ebola Cases May Rise to 10,000 a Week by December

The number of Ebola cases in three West African nations may jump to between 5,000 and 10,000 a week by Dec. 1 as the deadly viral infection spreads, the World Health Organization said. The outbreak is still expanding geographically in …

RBC Facing $76 Million in Shareholder Claim Over Merger

A Delaware judge said Royal Bank of Canada must pay $75.8 million in damages to former shareholders of Rural/Metro because it failed to disclose conflicts of interest that tainted the $438 million buyout of the ambulance operator. The ruling is …

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