Panama Threatens Sanctions, Hefty Fines on Ships That Tamper with Transponders June 2, 2020 By Elida Moreno Panama’s Maritime Authority said it will impose sanctions on vessels, including fines of up to $10,000 and withdrawing its flag...
Pandemic Reinsurance Solution Gains Wide Support from UK Re/Insurance Industry June 1, 2020 UK insurance executives have taken another step toward developing a public-private risk-financing mechanism for future pandemics with the creation of...
Italy’s Regulator Asks Insurer Cattolica to Boost Its Capital by $557M on COVID-19 Impact June 1, 2020 Cattolica Assicurazioni said on Monday that Italy’s insurance regulator had told it to raise 500 million euros ($557 million) after...
Billionaire Del Vecchio Seeks to Raise Stake in Generali’s Biggest Investor, Mediobanca June 1, 2020 By Tommaso Ebhardt and Sonia Sirletti Italian eyewear billionaire Leonardo Del Vecchio stepped up his efforts to become a bigger player in Italy’s finance industry, asking...
K2 Insurance Services Launches International Re/insurance Platform in London June 1, 2020 K2 Insurance Services, the underwriting and distribution specialist in the U.S. program insurance market, announced the launch of K2 International,...
UK Broker SSL Endeavour Rebrands as Oneglobal Broking June 1, 2020 The UK broker SSL Endeavour has rebranded as Oneglobal Broking. The business is led by Chairman Jonathan Palmer-Brown and Chief...
Pandemic-Hit Re/insurers Expect a Costly Hurricane Season – and Rates Are Rising June 1, 2020 By Carolyn Cohn The official start of the Atlantic hurricane season on Monday could signal more steep losses for insurers and reinsurers, already...
British Regulator Enlists 8 Insurers in Pandemic Test Case of Business Interruption Cover June 1, 2020 By Huw Jones and Carolyn Cohn Insurers including Hiscox, RSA and QBE will take part in a UK test case to decide whether their policies should...
Price Forbes’ Gilmore Appointed Chairman of Worldwide Broker Network May 29, 2020 The Worldwide Broker Network has appointed Price Forbes Executive Director Alex Gilmore as chairman. Gilmore previously served as WBN’s Treasurer....
S&P Affirms Munich Re’s ‘AA-‘ Ratings, Reflecting Sufficient Capital for COVID-19 Crisis May 29, 2020 S&P Global Ratings has affirmed its “AA-” long-term issuer credit and financial strength ratings for Munich Re and its subsidiaries,...