International News

Nissan Expands Global Recall by 260,000 Vehicles

Nissan Motor Co. expanded a global recall of cars using Takata Corp.-made air bags, which have been linked to four deaths in Honda Motor Co. cars. Nissan will call back 260,000 vehicles worldwide, including 104,905 units in Japan, Yuriko Masuda, …

Hopper Appointed Head of Energy for ANV Syndicate 1861

ANV Holdings BV, the Dutch headquartered specialty insurance business, has appointed John Hopper as head of energy to lead its energy underwriting team within ANV Syndicate 1861. Hopper comes to ANV after being a leading member of the offshore energy division …

Towers Watson Predicts Moderate Global Growth, Downside Risks

Towers Watson says that overall global growth in the next three to five years will be moderate and divergent on a country basis, and risks to global growth are skewed to the downside in its report entitled “Secular Outlook 2014: …

India’s Cyclone Hudhud May Have $400 Million Price Tag

Cyclone Hudhud, which hit India’s east coast last week, probably cost insurers $100 million to $400 million, modeling firm AIR Worldwide said. The storm damaged transportation infrastructure, power supply systems and more than 40,000 homes, the Boston-based modeler said today …

Eight P&C Insurers Get Top Marks for Climate Change Risk Management

Munich Re and ACE Ltd. are among insurers that are best prepared to manage risks related to climate change, a lobbying group said. The nine insurers that were found to be integrating climate change into underwriting and investments also included …

Remnants of Hurricane Gonzalo Bring Rain, Wind to Europe

The remnants of Hurricane Gonzalo battered Ireland and the United Kingdom with locally damaging winds and downpours on Monday night and Tuesday. Widespread wind gusts of 65 to 90 kph (40 to 55 mph) were reported across Ireland and the …

Record Aviation Claims Driving Up Premiums

Insurers worldwide are going to have to pay up to a record $800 million to cover the damage done by attacks on airplanes this year, driving prices up and drawing rivals into the market. The hefty bill dwarfs the $60-$90 …

Aon Benfield Launches Arabian Earthquake Model

Impact Forecasting, Aon Benfield’s catastrophe model development unit, launched a catastrophe model to estimate the financial impact of earthquakes in the Arabian Peninsula. The demand for catastrophe modeling in the countries of Gulf Cooperation Council (GCC) is increasing as a …

Hardy Promotes Wright in Asia; Hires Bond and Osorio in London

Hardy Underwriting Asia Pte Ltd (Hardy Asia), a subsidiary of CNA Financial Corporation, has promoted Chris Wright as director and principal officer for Hardy Asia. (Hardy is a specialist underwriting business operating within Lloyd’s of London.) In this role, Chris will …

Guidance on EU Rules Created for Audit, Risk Committees

The Federation of European Risk Management Associations (FERMA) and the European Confederation of Institutes of Internal Auditing (ECIIA) have responded to increased EU requirements for more corporate transparency with a new joint guidance document on the 8th Company Law Directive. Audit …

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