Re/Insurers Need to ‘Reinvent’ Products to Participate in New Economy: XL’s McGavick September 16, 2016 By L.S. Howard The re/insurance industry needs to innovate and become more efficient. It is facing more risk, but premiums are declining. Some...
Chubb Expands Cyber Risk Engineering Offerings Into the U.K., Ireland September 16, 2016 Chubb has expanded its cyber risk engineering capabilities in the U.K. and Ireland, as it continues to invest in building...
XL Catlin to Buy Australian Underwriting Agency Brooklyn September 16, 2016 Specialist insurer XL Catlin has agreed to acquire Australia’s Brooklyn Underwriting from Paul Hines. Brooklyn is an underwriting agency in...
AIG Selling Stake in Ascot Lloyd’s Syndicate; Will Keep Bermuda, Reinsurance Ties September 16, 2016 American International Group Inc. has agreed to sell its interest in Ascot Underwriting Holdings Ltd. (AUHL) and related syndicate-funding subsidiary...
Typhoon Meranti Hits China; 6 Reported Dead, More Missing September 16, 2016 At least six people died and six are missing as Typhoon Meranti, the strongest storm in the world this year,...
Deutsche Bank Balks at $14 Billion U.S. Demand to Settle Securities Claims September 16, 2016 By Arno Schuetze Deutsche Bank said it would fight a $14 billion demand from the U.S. Department of Justice to settle claims it...
Super Typhoon Meranti Batters Taiwan: Risk Modelers AIR, RMS Assess Impact September 15, 2016 Super Typhoon Meranti delivered very strong wind, high storm surge, and flooding precipitation to southern Taiwan as it passed through...
Tesla Faces Lawsuit Over Crash in China September 15, 2016 By Craig Trudell Tesla Motors Inc. said it has no way of knowing whether its Autopilot system was involved in a crash in...
Lloyd’s Enjoys ‘Healthy Pipeline’ of Entrants Despite Brexit, Chairman Says September 15, 2016 By Carolyn Cohn The Lloyd’s of London insurance market has a queue of companies wanting to join, Chairman John Nelson said on Monday,...
To Cut Costs, Reinsurers Should Lower Brokers’ Fees, Says Lloyd’s Chairman September 15, 2016 By Oliver Suess and Jan-Henrik Foerster Reinsurers, forced to cut prices for four years in a row, should target brokers’ fees as the industry seeks to...