W.R. Berkley Corp. said it has formed two subsidiaries in Mexico: Berkley International Fianzas México S.A. and Berkley International Seguros México S.A. Both have been granted official authorization to commence operations and will begin offering coverages to clients throughout Mexico …
Insurer MAPFRE, which already owned 31 percent of the insurer, has gained 51 percent and effective control of Indonesian insurance company PT Asuransi Bina Dana Arta Tbk (ABDA). The transaction was closed at a price of 90 million euros. Through …
Large shipping losses have declined by 50 percent over the past decade and last year saw the lowest number of losses in the past 10 years. The favorable loss trend has been largely driven by improved safety, according to Allianz …
Peak Reinsurance Co. Ltd., a Hong Kong-based reinsurer, has been granted the approval-in-principle by the Labuan Financial Services Authority to carry on general reinsurance business in and through the Labuan insurance market. Labuan is the the federal territory of Malaysia. …
Reduced market access, regulatory fragmentation, the return of inflation and cloud risk accumulation pose the largest challenges with the highest downside risk potential in the short term, according to experts at Swiss Re. Other risks further out on the time …
American International Group Inc. said it was not “unwelcoming to working mothers” as the insurer fought a discrimination lawsuit filed by a former London trader dismissed while on maternity leave. Jennifer Marlow, who until September 2016 was a senior foreign …
Natural coastal habitats such as mangroves, coral reefs and salt marshes protect communities more effectively against coastal storms than seawalls, and insurers should consider this when pricing flood risk, Lloyd’s of London said. Investment to conserve natural habitats also makes …
Global specialty insurer StarStone has appointed Rod O’Malley as of head of cargo in London. O’Malley is joining StarStone in from XL Catlin, where he most recently served as head of the UK cargo team and senior class underwriter. He …
Chubb said it is now offering increased insurance capacity of up to US$150m/ €150m (previously US$100m/ €100m) for terrorism, political violence and war risks in response to evolving threats and increased demand from multinational clients. The new increased capacity will …
Markel International, a specialist insurer, has appointed Dillon Matthews as trade credit underwriter and senior risk analyst in Singapore, in a move to strengthen and broaden its Asia Pacific resources. Matthews will focus on expanding Markel’s trade credit business in …
