A hurricane threatening the first direct hit on the United States in more than a decade could cause insurance losses of $25-30 billion and be the second costliest U.S. hurricane on record for insurers, according to initial industry estimates. Hurricane …
Deutsche Bank AG has sold its British insurance business Abbey Life to Phoenix Group Holdings as it sheds non-core assets and reduces its balance sheet in an effort to reassure anxious investors and meet regulators’ demands. Phoenix, Britain’s largest owner …
Lloyd’s of London’s Beazley Plc is working to get European insurance licenses for its Irish reinsurance business to allow it to operate throughout the European Union, even if Lloyd’s loses access to the bloc. Insurers are making contingency plans after …
As internet-connected and, eventually, driverless vehicles roll off production lines, traditional motor insurers need to adapt to ward off competition from car manufacturers. Insurers have struggled for years to make a profit from motor insurance due to intense competition and …
Organizers of rock concerts and conferences in Latin America or fringe events at the Rio Olympics beware: if you still need insurance to cover cancellation due to the Zika virus, it’s probably too late. The International Olympic Committee (IOC) should …
Insurers are facing some of the costliest British floods on record as large parts of northern England, already inundated, brace for more heavy rain. Accountants estimate that insurers are currently facing a bill of up to 1.5 billion pounds ($2.22 …
British insurers could have to pay out up to £250 million ($377 million) in claims to owners of homes and businesses, industry specialists said on Monday, after the northwest of England suffered once-in-a-century floods for the second time in 10 …
A tax hike on British motor and home insurance policies effective from Sunday is set to hit consumers and could trigger a fresh round of margin-squeezing price competition among general insurers. The jump in the insurance premium tax (IPT), to …
