An M6.5 earthquake jolted the northernmost area of Sumatra, Indonesia, on Dec. 7 at 5:03 a.m. local time, with nearly 100 fatalities and more than 600 injuries reported. The epicenter was 19 kilometers (11.8 miles) southeast of Sigli and 92.3 …
Brit Ltd., the London-based specialty insurer, announced the appointment of Matthew Wilson as group chief executive officer, effective Jan. 1, 2017. Upon Wilson’s appointment, which is subject to regulatory approval, Mark Cloutier, the current group CEO, will become executive chairman …
Efma and Accenture have issued a joint call for entries for the second annual Innovation in Insurance Awards, with insurance and bancassurance companies invited to submit their entries by March 8, 2017. The Innovation in Insurance Awards are a global …
Third party administrator Gallagher Bassett (GB)* has appointed John McNamara to the position of managing director – Australia, effective Jan. 1, 2017. McNamara succeeds Jon Winsbury who is moving into the role of executive vice president, Gallagher Bassett International. McNamara …
The initial estimate of the property insurance market loss from the series of earthquakes that hit central Italy in October is €31 million ($33.3 million), according to PERILS, the independent Zurich-based organization that provides industry catastrophe insurance data. Three major …
The Credit Guarantee and Investment Facility (CGIF)* announced it has executed its inaugural reinsurance treaty, with a panel of market leading private reinsurers, led by the specialist credit reinsurance team of Munich Re. This treaty, which incepted on Oct. 1, …
The costs of major shocks to the global economy from natural and manmade threats could put at risk $1.17 trillion of the total projected GDP of the world’s major cities in 2017, according to the findings of a report compiled …
The U.K. government promised to make sure London keeps its place as the leading financial center after Brexit, following top-level talks between global bank chiefs and senior ministers. U.K. Chancellor of the Exchequer Philip Hammond and Brexit Secretary David Davis …
Allianz Worldwide Partners* has appointed Matthias Wuensche as director, Global Market Management and Innovation, where he “will play a leading role in developing new product and service offerings and position Allianz Worldwide Partners as the partner of choice,” the company …
Smartphone-only bank Number26 is now offering its services in 17 countries in the euro zone, expanding from a smaller core of European markets it entered a year ago, it said on Tuesday. The Berlin-based company is backed by Li Ka-shing, …
