International & Reinsurance News

Prospect of Brexit Deal Is ‘Touch and Go,’ Acknowledges PM Johnson

U.K. Prime Minister Boris Johnson acknowledged Sunday that the prospect of a Brexit deal was “touch and go,” as other European Union capitals grasp the problems Britain has with the withdrawal agreement. Speaking on the sidelines of the Group of …

Hong Kong Protests Escalate as Police Fire Weapon, Use Water Cannons

Tensions flared in Hong Kong on a weekend that began with the formation of a peaceful human chain across the city and culminated two days later with police firing a weapon and using water cannons for the first time. In …

Canada Broker Westland Insurance Buys First West Insurance Services

Canadian broker Westland Insurance Group Ltd. announced the acquisition of First West Insurance Services, a subsidiary of First West Credit Union, effective Sept. 30, 2019. Financial details of the transaction were not released. First West Insurance Services provides personal, auto …

Japan’s Tepco to Propose Decommissioning 5 Nuclear Reactors: Media

Tokyo Electric Power will submit to a municipal official on Monday a plan regarding the decommissioning of five reactors at its Kashiwazaki-Kariwa nuclear station, the world’s biggest atomic plant, Jiji Press said. Japan suffered its worst energy crisis since the …

New Business Up 20% at Insurer AIA on Hong Kong, China Sales

Asia-focussed insurer AIA Group Ltd on Friday posted a 20% rise in new business for the first half of the year, as it sold more insurance products in its main markets of Hong Kong and China. AIA’s new business value, …

Following Deadly Blast, Russia Launches Floating Nuclear Reactor

Russia’s Rosatom shipped its first floating nuclear-power reactor on Friday, setting the unit off on a barge journey among Arctic ice caps, raising concerns in the wake of a recent military accident that caused a brief spike in radiation. The …

Allianz to Buy SulAmérica’s Auto, Other P/C Insurance Operations

Allianz has agreed to acquire automobile and other property/casualty insurance operations from Brazil’s SulAmérica for BRL 3 billion (667 million euros). Allianz said the acquisition will strengthen its competitive position in Brazil, making it one of the top three insurers …

Early Claims and Crash Tests Suggest Risks of Luxury, SUV Electric Vehicles

Electric luxury cars and sport utility vehicles (SUVs) may be 40% more likely to cause accidents than their standard engine counterparts, possibly because drivers are still getting used to their quick acceleration, French insurer AXA said. The numbers, based on …

Among Bad Driving Behaviors, Speeding Is Strongest Predictor of Crashes

Speeding is the riskiest kind of aggressive driving, according to an analysis of data from on-board telematics devices in vehicles. Researchers at Canada’s University of Waterloo examined data from 28 million trips for possible links between four bad driving behaviours …

Airbus A380s to Undergo Safety Checks After Air France Crash Probe Finds Part

Investigators probing an engine explosion on an Air France A380 in 2017 are studying a possible manufacturing flaw in a recently salvaged cracked part in a move likely to trigger urgent checks on dozens of Airbus superjumbos, people familiar with …

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