Liberty Specialty Markets said it planned to redomicile its UK insurance company to Luxembourg, as a result of Britain’s decision to leave the European Union. Below are insurers’ plans for EU subsidiaries (in alphabetical order) in case Britain does not …
Brit Ltd., the London-based specialty insurer and reinsurer, has launched a Bermuda-domiciled collateralized reinsurance platform, Sussex Capital. Sussex Capital, through Sussex Re, a newly established Bermuda-domiciled special purpose insurer, will write direct collateralized reinsurance while also providing collateralized reinsurance to …
Berkshire Hathaway Specialty Insurance Co. (BHSI) announced it has introduced Financial Institution Professional Indemnity (FIPI) insurance in Asia. “Financial institutions are seeing an increase in both the frequency and severity of professional indemnity claims,” said Scotland Walsh-Riddle, head of Executive …
Quantemplate, a London-based insurtech firm that specializes in machine learning data transformation and analytics, announced that David Lundgren has been appointed CEO and board director. The company has also received £2.5 million (US$3.3 million) of new capital to accelerate its …
A previously unknown ring of Russian-speaking hackers has stolen as much as $10 million from U.S. and Russian banks in the last 18 months, according to a Moscow-based cyber-security firm that runs the largest computer forensics laboratory in eastern Europe. …
After more than two years of red tape that kept tenants from moving in, China’s tallest skyscraper, the Shanghai Tower, has been quietly opening and filling office space. More than 60 companies now occupy office space on its 128 floors …
Zurich Insurance Group AG’s decision to acquire the life-insurance businesses of Australia & New Zealand Banking Group Ltd. should help Switzerland’s biggest insurer fulfill its ambition to increase its dividend. Already famous as a dividend stock, Zurich signaled last month …
ING by the end of 2025 will stop funding any utility company which relies on coal for more than 5 percent of its energy, the Dutch bank said on Tuesday. It will, however, continue to help companies with renewable energy …
Typhoon Damrey made landfall in Vietnam during November as a Category 2 strength storm, bringing estimated economic damages of VND22.1 trillion (US$1.0 billion) – a rare billion-dollar event for the country, according to Impact Forecasting, Aon Benfield’s catastrophe model development …
Zurich Insurance Group announced that it has entered into an agreement to acquire 100 percent of ANZ’s life insurance businesses, OnePath Life, in Australia, for A$2.85 billion (US$2.14 billion). Both parties expect the transaction, which is subject to regulatory approval, …
