German reinsurer Munich Re on Wednesday reported a 36% rise in net profit in the second quarter, helped by low claims from major losses, and stuck to its forecast for 2019. Net profit was 993 million euros ($1.11 billion), up …
Reports alleging that fuel tankers appeared to breach U.S. sanctions against Iran were cited in court filings by a bank as it sought to seize the ships, accusing the owners of loan default. The accusations, which led to the the …
Chubb announced the appointment of Eric Kwan as division head of Property & Casualty for Singapore, effective Aug.5, 2019. He reports to Scott Simpson, Chubb’s country president for Singapore. In Kwan’s new role, he has overall responsibility for leading Chubb’s …
DARAG Group Ltd., the Malta-based legacy acquisition firm, announced it has signed a portfolio transfer agreement with German re/insurer Schwarzmeer und Ostsee Versicherungs-Aktiengesellschaft (SOVAG). The legacy portfolio will be transferred to DARAG’s German risk carrier, DARAG Deutsche Versicherungs- und Ruckversicherungs …
It was caged and only hovered for about a minute, but it flew: a new flying car. Made by NEC Corp., the vehicle is essentially a large drone with four propellers that’s capable of carrying people. The Japanese electronics maker …
Heat scorched Western Europe this July in what will likely be confirmed as the hottest month in recorded history, according to the UN’s World Meteorological Organization. “This is not your grandfather’s summer,” United Nations Secretary General Antonio Gutierrez said. The …
Paris’s Notre-Dame Cathedral should be fully sealed off while it is rebuilt because of the risk of lead poisoning, according to an alliance of environmental and neighborhood groups. The site has been empty since a prefect’s ruling on Aug. 1, …
Hong Kong leader Carrie Lam warned of a “very dangerous situation” as protesters moved to shut down the Asian financial hub with a general strike on Monday after a ninth straight weekend of unrest in opposition to China’s tightening grip. …
Arthur J. Gallagher & Co. announced that its risk management services subsidiary, Gallagher Bassett International Ltd., has acquired the assets of Llantrisant, Wales-based Adjusting Associates LLP. Terms of the transaction were not disclosed. Established in 2002 to provide loss adjusting …
AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa-” from “a+” of the operating subsidiaries of Bermuda-based PartnerRe Ltd. AM Best also has upgraded the …
