Sri Lanka began towing a fully loaded supertanker that had caught fire off its east coast after it began drifting towards land, a spokesman for the navy of the Indian Ocean nation said on Friday. The fire was still raging …
Allianz announced it has entered into an agreement with Janashakthi Insurance PLC (JINS) to acquire 100 of its subsidiary Janashakthi General Insurance Ltd. (JGIL) for LKR 16.4 billion (€85.9 million, or approximately US$106.3 million). The transaction is subject to regulatory …
According to catastrophe modeling firm AIR Worldwide, the rains of the past week across Southeast Asia have been much higher than average, even for a period during which Southeast Asian countries normally experience heavy monsoon rains. AIR noted that “severe …
Malaysia evacuated more than 200,000 people and increased relief efforts as the worst floods in decades left at least 10 people dead. Parts of Thailand and Sri Lanka have also been inundated. The affected states are Kelantan, Kedah, Terengganu, Pahang, …
Somali pirates have released the Marida Marguerite, a German-operated chemical tanker after receiving a $5.5 million ransom, the Kenya-based East African Seafarers Assistance Program said on Tuesday. The tanker was seized in May and released on Monday. Here are details …
The world economy continued its rebound from the worst recession in decades, according to the quarterly ICC/Ifo World Economic Survey released today, but at a slower pace. The survey concluded that “some regions, notably North America and Asia, saw slowing …
A major earthquake of 7.8 magnitude shook the northwestern coast of the Indonesian island of Sumatra, the U.S. Geological Survey said on Tuesday. A local tsunami watch was in effect for Indonesia, the Pacific Tsunami Warning Center said. “A destructive …
Political and financial instability remain a feature of the business landscape as a result of the recession, according to Aon Risk Services, the global risk management and insurance brokerage business of Aon Corp. The company launched its 17th annual Political …
The World Bank is looking at a $100 million political risk insurance scheme for countries recovering from war to boost private investment, senior officials from its investment guarantee agency said on Thursday. Foreign investors use political risk insurance to cover …
Systems Changes, Technology, Talent Pool Position London Market for the Future London’s insurance market comprises general carriers, specialty carriers, reinsurers, brokers, underwriters, claims handlers, lawyers, accountants and their adjuncts, who work together to sell “The City’s” – London’s financial and …
