Norway News

Starr Insurance Cos. Opens Office in Oslo, Norway

Starr Insurance Cos. announced the opening of a new office in Oslo, Norway, effective October 1, 2018. The Oslo office will add to Starr’s significant presence in Europe. The office will initially focus on general aviation but Starr expects to …

Low Interest Rates Pose Unknown Risks for European Insurers: CEO of Gjensidige

Cheap money could have unknown consequences for Europe, according to the chief executive officer of Gjensidige Forsikring ASA, Norway’s largest listed insurer. “It’s a sign of sickness for the economies in Europe when rates are this low,” Helge Leiro Baastad, …

Norwegian Insurer Eyes First Sale of Industry’s Riskiest Bonds

Gjensidige Forsikring ASA is on track to become the first insurer to issue a new type of bond that will become the industry’s riskiest debt. The Norwegian company may sell as much as 1 billion kroner ($120 million) of so-called …

Norway’s Storebrand Buys Real Estate, Mortgages to Escape Negative Yields

Storebrand ASA, Norway’s largest listed insurance company based on assets under management, is buying mortgage bonds and real estate to escape negative rates. “Mortgage and corporate loans, where we are familiar with the credit quality, are exciting,” Chief Executive Officer …

Willis Names Fagerli to Head Norway Subsidiary

Willis Group Holdings announced that Nils Arne Fagerli has been appointed CEO of Willis Norway AS, effective immediately. He is based in Oslo and reports to Adam Garrard, CEO of Europe (Willis International). Fagerli joins Willis from GIEK Credit Insurance …

Melting Arctic May Redraw Global Geopolitical Map

This year’s frenzy of oil and gas exploration in newly accessible Arctic waters could be the harbinger of even starker changes to come. If, as many scientists predict, currently inaccessible sea lanes across the top of the world become navigable …

Europe’s PERILS Expands Coverage to Norway, Sweden

PERILS, the independent Zurich-based company that provides industry-wide catastrophe insurance data, announced that it has extended its market coverage to include Norway and Sweden. The two Nordic markets are in addition to the nine territories already covered by PERILS: Belgium, …

Aon Benfield Cat Report for November Highlights Cold and Floods

In its latest monthly assessment of the world’s catastrophes for November Aon Benfield highlights the first winter weather event of the season across Europe with “notable affects.” the report, published by the company’s Impact Forecasting team, who evaluate global natural …

India Expects to Break Rich/Poor Deadlock at Climate Talks

An Indian proposal could break a deadlock between rich and poor countries over how to share the burdens of tackling global warming, India’s environment minister said Thursday before heading to U.N. climate talks in Mexico. India’s environment minister Jairam Ramesh …

Feds Urges All States to Require Motorcycle Helmets

Federal safety officials are calling on states to require all motorcycle riders to wear helmets, citing a surge in fatalities since the late 1990s. Motorcycle deaths have increased over the last decade even as other traffic fatalities have declined, the …