The U.S. property insurance market is accumulating cyber exposures that could result in $12.5 billion in non-physical damage losses and cause capital adequacy ratios for some carriers to deteriorate. A study conducted by CyberCube, AM Best and Aon found that …
This edition of International People Moves details appointments at re/insurer SiriusPoint, insurer HDI Global, and Lloyd’s broker Besso. A summary of these new hires follows here. SiriusPoint Appoints Top Reinsurance Executive Heerasing SiriusPoint Ltd., a Bermuda-based specialty insurer and reinsurer, …
Through the end of September, there have been 18 weather and climate disaster events with losses exceeding $1 billion each across the U.S. during 2021. These events include one drought/heat wave event, two flooding events, nine severe storm events, four …
Rokstone, the London-based speciality re/insurance managing general agency, has launched a new terrorism facility with “A”-rated capacity in the UK. The news follows the launch of its terrorism product in the U.S. in July this year, continuing its push to …
Royal Philips NV will face more than 100 U.S. lawsuits gathered in a Pennsylvania court over its recall of more than 3 million devices used to treat sleep apnea that are linked to cancer concerns. Amsterdam-based Philips, maker of respiratory …
FRANKFURT, Germany (AP) – More than 130 countries have forged a deal on sweeping changes in how big global companies are taxed. The goal: deterring multinational companies from stashing profits in countries where they pay little or no taxes – …
Howden, the London-based international insurance broker, announced the acquisition of Oslo-based retail broker Aneco Forsikringsmegling AS. Howden said the acquisition affirms its position as one of the leading non-marine insurance brokers in Norway, providing clients with greater choice and a …
The aftermath of Hurricane Irma has left deep scars in the tiny island nations that were in the path of the Category Five storm just before it slammed into Florida. The toll in Antigua and Barbuda added up to more …
HONG KONG – China Evergrande Group on Tuesday missed its third round of bond payments in three weeks, intensifying market fears over contagion involving other property developers as a wall of debt payment obligations come due in the near-term. Some …
SIU Names David Green Practice Leader for Professional Lines Georgia-based Southern Insurance Underwriters has named David Green its new practice leader for professional lines. Green, who previously was the new-business manager for real estate errors and ommissions at Norman-Spencer Agency, …
