The outlook for the Canadian property and casualty (P/C) industry is stable, driven by good demand, strong underwriting discipline and solid balance sheets, says Moody’s Investors Service in a report. However, these trends will be offset by persistently low investment …
The International Insurance Society (IIS) has chosen Nikolaus von Bomhard, chairman of the board of management of Munch Re, as the 2017 Insurance Hall of Fame Laureate. The Insurance Hall of Fame honors insurance standouts who have made a broad, …
Switzerland’s Zurich Insurance Group has agreed to buy Australia’s biggest travel insurance provider, Cover-More Group, for A$741 million ($551 million), stepping up its investment in the Australian market. Global buyers have been drawn to the broader Australian insurance sector, where …
XL Catlin’s reinsurance operations has announced two key leadership appointments for Bermuda and London, both effective January 2017. Jonathan (Jon) Gale, currently chief executive London Reinsurance, will take over as chief executive Bermuda Reinsurance, subject to Bermuda Immigration approval, while …
ArgoGlobal, the Lloyd’s insurer and member of Argo Group, has announced the appointment of Michael Thompson as hull class underwriter. He takes up the role with immediate effect and will report to Steve O’Gorman, head of marine. Thompson brings nearly …
Marsh announces the appointment of 25 apprentices to its 2016 UK Apprentice Program, which offers young people employment and training opportunities across the firm’s UK office network. This year’s apprentices join Marsh in Bristol, Edinburgh, Manchester, Newcastle and Norwich. Marsh’s …
A Bangladesh government-appointed panel investigating the cyber-heist of $81 million from its central bank in February found five officials at the bank were guilty of negligence and carelessness, the head of the panel told Reuters on Thursday. In his first …
While insurance against cyber risk represents a tremendous new business for the insurance industry, numerous problems with the insurability currently impede the development of the market,” according to a new report published by the Geneva Association. The report, titled “Ten …
Technical trade secrets were stolen from the steel production and manufacturing plant design divisions of ThyssenKrupp AG in cyber attacks earlier this year, the German company said on Thursday. ThyssenKrupp, one of the world’s largest steel makers, said it had …
Insurance losses from last month’s magnitude 7.8 earthquake in New Zealand are likely to range between NZ$1.0 to 5.0 billion (US$705 million and US$3.5 billion), according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. At …
