International News

Aspen Adopts Shareholder Rights Plan; Endurance Slams ‘Poison Pill’ Defense

The 17th April of April saw a resumption of hostilities between Aspen Insurance Holdings and its would-be acquirer Endurance Specialty Holdings. The two Bermuda-based specialty insurers have fighting each other since April 14, when Endurance offered to buy Aspen for …

Lloyd’s Focuses on Brokers, MGA’s, Capital in New Details for ‘Vision 2025’ Plan

Lloyd’s has published a more detailed strategy for 2014-2016, setting out how it will work towards achieving its goals, embodied in its “Vision 2025” Plan, which details “how the Corporation will support managing agents, brokers and capital providers in an …

Strong M7.2 Earthquake Shakes Acapulco, Mexico City: AIR Analysis

According to catastrophe modeling firm AIR Worldwide, on the morning of April 18, 2014, a M7.2 earthquake struck southwestern Mexico, 37 km [23 miles] north of the municipality of Tecpán de Galeana (approximate population 53,000). The epicenter is located 273 …

Bermuda Re/Insurers Post Strong Results on Favorable Cat Loss Experience

The Association of Bermuda Insurers and Reinsurers (ABIR) has released the 2013 global underwriting results for its member (re)insurers. 18 of its 21 member (re)insurers participated in the 2013 report. The companies write insurance and reinsurance from underwriting centers in …

A Tough Sell: Insurance Coverage for a China Financial Crisis

Selling insurance against a financial crisis should not be difficult five years after the last one nearly wrecked the global economy. But when it comes to China, the world’s second-largest economy, the probability of a full-blown crisis is apparently so …

Broker/Insurer Combo Launch Food and Beverage Industry Contamination Coverage

Willis Group Holdings has announced the launch of a new product contamination insurance proposition, in partnership with XL Group, Willis Limited’s Food and Drink and Faber Global teams, in association with BRC Global Standards – the world’s biggest provider of …

Mexico Broker AER Joins Brokerslink in Expansion Move

Independent insurance broker network Brokerslink announced that it has gained a new member in the key Monterrey corporate market in Mexico with the addition of broker AER as a member. Brokerslink’s bulletin described Monterrey as a “key corporate market in …

Sompo Japan, Nipponkoa Looking for Growth beyond Traditional Assets

Sompo Japan Insurance and Nipponkoa Insurance are already acting as one entity ahead of their merger in September. They’ve announced plans to invest “tens of billions of yen” in new areas such as energy, environment and infrastructure, mainly through private …

Willis Exec Warns Mutual Insurers Face Increasing ‘Pricing Pressure’

According to David Thomas, CEO of Market Services & Solutions at Willis, Mutual insurers face increasing pricing pressure so must differentiate themselves to remain competitive. Speaking in a video blog on WillisWire, Thomas said: “Mutuals generally take a long-term view …

Poland’s PZU to Pay $498 Million for RSA’s Eastern European Units

PZU SA, central Europe’s largest insurer by market value, agreed to buy RSA Insurance Group Plc’s four units in the biggest foreign acquisition by a Polish financial company. PZU will pay a combined €360 million ($498 million) for Lietuvos Draudimas …

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