International News

Allied World Bermuda Appoints Chow as Senior VP, Professional Lines

Allied World Assurance Company Holdings announced that Dale Chow has been appointed to senior vice president, Professional Lines, for Allied World Bermuda. In this role, Chow will be responsible for the strategic direction, management, marketing and underwriting of Allied World …

Italy Quakes Could Lead to Limited Insured Losses: RMS & AIR Worldwide

Damage from the earthquake that struck central Italy on Aug. 24 and the subsequent aftershocks that followed is still being assessed. But RMS asserts that insurance losses will be limited because of property values and the lack of coverage. “A …

Marsh & McLennan Launches Asia Pacific Risk Center in Singapore

Marsh & McLennan Cos. and the Singapore Economic Development Board (EDB) announced the launch of the Asia Pacific Risk Center (APRC) in Singapore, which aims to analyze key risks facing industries and governments in Asia, ultimately helping the region’s decision …

Norwegian Insurer Eyes First Sale of Industry’s Riskiest Bonds

Gjensidige Forsikring ASA is on track to become the first insurer to issue a new type of bond that will become the industry’s riskiest debt. The Norwegian company may sell as much as 1 billion kroner ($120 million) of so-called …

World’s Longest Aircraft, Airlander 10, Crash-Lands After Test Flight in England

The world’s longest aircraft, the Airlander 10 airship, has crash-landed after a test flight in Bedfordshire, central England, its British manufacturer Hybrid Air Vehicles said on Wednesday. The airship, which is bigger than the size of six double-decker buses, sustained …

First Driverless ‘Robo-Taxi’ Hits Singapore’s Streets in Limited Public Trial

The first driverless taxi began work on Thursday in a limited public trial on the streets of Singapore. Developer nuTonomy invited a select group of people to download their app and ride for free in its “robo-taxi” in a western …

New Zealand Claims World’s First Pizza Delivery by Drone

New Zealand led the world when it gave women the vote and introduced inflation targeting. Now it’s claiming another world-first: pizza delivery by drone. Domino’s Pizza Enterprises Ltd. has joined forces with U.S.-based self-proclaimed “flying robot” operator Flirtey for the …

XL Catlin Names Chow as Senior U/W, Political Risk & Trade Credit, Asia Pacific

XL Catlin’s insurance operations announced the appointment of Bonnie Chow as senior underwriter, Political Risk and Trade Credit insurance for Asia Pacific. She will be based in Sydney. Chow has over 20 years’ experience in the insurance and banking industries, …

Italy Earthquake Unlikely to Trigger 200M Euro Cat Bond Cover: Investors

A powerful earthquake in Italy on Wednesday is unlikely to force UnipolSai’s 200 million euro ($226 mln) catastrophe bond into default as the bond has low exposure to the affected region, the Italian insurer said. The earthquake devastated a string …

Low Prices Ultimately Could Bite London Market Insurers: A.M. Best, PwC Reports

The business outlook for the London insurance market is a familiar one across other global markets: underwriting profits are under pressure as ongoing soft market prices begin to take a toll. In separate reports on the London market, both A.M. …

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