AXA XL announced the new leadership team for its UK & Lloyd’s region. Effective immediately, the appointments are part of the proposed changes to the operating model of AXA XL’s Insurance business following a strategic review. They are in line …
German Finance Minister Olaf Scholz intends to unveil a reform of the government’s financial oversight, as the widening scandal over the collapse of Wirecard AG reaches the highest levels of Chancellor Angela Merkel’s government. Scholz’s 16-point “action plan” would install …
South Africa’s Steinhoff has proposed to pay around $1 billion to settle outstanding legal claims following a massive accounting fraud, a fraction of the over 9 billion euros ($10.5 billion) claimants are seeking. The announcement sent its shares up over …
China warned that the worst of the deluges that have led millions to be evacuated may be yet to come, after a third wave of floods formed in the upper reaches of the Yangtze River on Sunday. “The flood control …
South Africa’s largest property and casualty insurer will pay as much as one billion rand ($60 million) in relief to clients with business-interruption cover hit financially by the coronavirus pandemic. Santam Ltd. will begin making relief payments next week, mainly …
Munich Re and Aon both issued reports this week on the economic and insurance costs of global natural catastrophes during the first half, which varied in magnitude by $7 billion. While Munich Re estimated that natural disasters across the globe …
Facebook Inc.’s WhatsApp plans to team up with more Indian lenders to expand banking services in rural areas and for lower income individuals, the messaging platform’s country head said on Wednesday. WhatsApp, which counts India as its biggest market with …
A new model clause for clarifying coverage of motor terrorism risks has been published by the International Underwriting Association. It has been developed after a growing spate of terrorist attacks using vehicles led to concern about a potential concentration of …
The annual flow of plastics into our oceans is on a trajectory to triple over the next 20 years, which could add up to 110 pounds of plastic trash for every meter of coastline worldwide, a new report finds. That …
Tysers, the independent, London-based wholesale insurance broker, announced that Clive Buesnel will become its next chief executive officer, subject to regulatory approval. Buesnel has spent much of his career in both operational and strategic roles in the UK and global …
