The World Bank Group issued its largest catastrophe bond, providing Mexico with financial protection of as much as $360 million against losses from tropical cyclones and earthquakes. Mexico is among the countries most vulnerable to natural disasters, the bank said …
Catastrophe bond issuance during the second quarter stood at US$6.38 billion across 20 transactions – a new record for quarterly issuance that surpassed the previous record of US$4.49 billion set in Q2 2014, according to a report issued by Aon …
Blenheim announced the appointment of John Cutts to develop a specialty reinsurance division within Syndicate 5886, subject to relevant regulatory consents. Cutts will take up his role in 2018 upon concluding his existing responsibilities at Talbot Underwriting, where he has …
The Travelers Cos. has completed its previously announced acquisition of Simply Business, a provider of small business insurance cover in the United Kingdom, which offers products online on behalf of a broad panel of carriers. London-based Simply Business has more …
The risk of cyber attacks targeting ships’ satellite navigation is pushing nations to delve back through history and develop back-up systems with roots in World War Two radio technology. Ships use GPS (Global Positioning System) and other similar devices that …
Floods in Thailand’s northern and eastern regions have killed at least 23 people and left two missing with damage estimated at around $300 million. Ten provinces have been flooded due to heavy rains, affecting 721,500 people, the Interior Ministry said …
American International Group Inc., the provider of commercial insurance, told regulators it could face claims costs from the Grenfell Tower fire that killed dozens of people in June in London. “Our net exposure to loss on this event is currently …
Allianz SE three years ago bet the future of its then $2 trillion bond firm on Dan Ivascyn, a little-known money manager at the time who had been picked to succeed Pacific Investment Management Co. founder Bill Gross. It was …
Arthur J. Gallagher & Co. announced the acquisition of GPL Assurance Inc. (GPL), located in Montreal, Quebec. Terms of the transaction were not disclosed. Founded in 1968, GPL is a retail insurance broker offering commercial property and casualty services to …
Chubb announced the appointment of three new positions within its regional claims team. Marc Scheidegger has been appointed as claims director, Continental Europe, and will be based in Paris. With 22 years of experience in the insurance industry, Scheidegger joined …
