Floodwaters that inundated Prague and swamped large areas of central Europe may peak today as emergency crews work to open river traffic, drain submerged neighborhoods and count the cost of the storm damage. Chancellor Angela Merkel began a tour of …
B.P. Marsh & Partners Plc, the U.K. private-equity firm with investments ranging from risk assessment to financial advising, rose for a record sixth consecutive day as investors await a potential payback from the sale of an insurance stake. B.P. Marsh …
Bermuda is not to blame for companies such as Google using Bermudan subsidiaries to shelter billions of dollars from U.S. and European tax authorities, the territory’s finance minister said on Monday. Google has come under fire from British lawmakers for …
XL Group announced that it is expanding its reinsurance operations with the creation of a “dedicated Reinsurance Global Emerging Markets unit to optimize development in these markets.” XL has named Philippe Rochaix, who was already in charge of its Latin …
Catastrophe modeling firm AIR Worldwide has released a report on the current heavy rains and floods that have inundated large parts of Central Europe during the past several weeks, causing “some of the worst floods seen in the area in …
The Federation of European Risk Management Associations (FERMA) has issued a warning to the European Commission that any restriction in the operation of the subscription insurance market could work to the disadvantage of business by reducing market capacity or making …
China’s President Xi Jinping ordered an investigation into the cause of a fire at a poultry plant in northeastern China that killed at least 119 people, the nation’s deadliest blaze in 13 years. Xi and Premier Li Keqiang asked the …
A.M. Best Asia-Pacific Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa” of Japan’s Mitsui Sumitomo Insurance Company Limited (MSI), and has upgraded the FSR to ‘A+’ (Superior) from ‘A’ …
Defense Secretary Chuck Hagel said on Friday that cyber threats posed a “quiet, stealthy, insidious” danger to the United States and other nations, and called for “rules of the road” to guide behavior and avoid conflict on global computer networks. …
China will study the possibility of joining the Trans-Pacific Partnership (TPP) trade talks, the Commerce Ministry said on Thursday, signaling its openness to the U.S.-led trade pact. “We will analyze the pros and cons as well as the possibility of …
