The UK Financial Conduct Authority’s review of the wholesale insurance broker market could help counter the trend of rising expenses for London market insurers, according to a Fitch Ratings briefing. This could make London more competitive with smaller hubs in …
The initial estimate of the insured property market loss for Extratropical Cyclone Xavier, which primarily affected Germany on Oct. 5, 2017, is €291 million (US$343.6 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. In …
Smart contracts were supposed to revolutionize finance. So far, however, they have proven adept mainly at helping people lose their money. The digital contracts make use of blockchain technology to get around trusted intermediaries like banks. Let’s say you want …
Steamship Mutual, the London-based protection and indemnity (P&I) club, announced it has been granted a license to operate as an insurer from its Singapore branch office. “This is a reflection of the club’s commitment to vessel owners and operators from …
Insurers have pulled $20 billion out of coal investments, but most are European and none of the top nine U.S. insurers has taken “meaningful action,” campaign group Unfriend Coal said on Wednesday. Government representatives and officials at this week’s U.N. …
Hedge funds bought reinsurance stocks in the third quarter after prices tumbled on widespread losses after multiple hurricanes in North America, filings showed on Wednesday. Hurricanes in the United States and the Caribbean in August and September are expected to …
Berkshire Hathaway Specialty Insurance (BHSI) has unveiled its Professional First Network Security & Privacy Liability Policy in Canada. The product combines cyber liability and breach response coverage with risk management resources for commercial enterprises and financial institutions. The Professional First …
Economical Insurance in Ontario has named Paul MacDonald as executive vice president of Personal Insurance effective early 2018. Rowan Saunders, president and CEO of Economical, said MacDonald will have profit and loss accountability for broker-distributed personal insurance and support a …
Financial markets face Brexit day upheaval if clearing houses in Britain are abruptly cut off from continental customers, a senior JPMorgan bank official said on Wednesday. Sally Dewar, international head of regulatory affairs at the U.S. bank, said that without …
Apax Partners and Carlyle Group LP are among suitors weighing bids for a stake in Indian insurer Royal Sundaram General Insurance Co., people with knowledge of the matter said. The unit of Mumbai-listed Sundaram Finance Ltd. has started a process …
