Britain’s financial industry could lose up to 38 billion pounds ($48.34 billion) in revenue in a so-called ‘hard Brexit’ that would leave it with restricted access to the European Union’s single market, according to a report commissioned by an industry …
Japan’s SOMPO Holdings Inc. has agreed to acquire all of the outstanding ordinary shares of Bermuda’s Endurance Specialty Holdings Ltd. for $93 per share in cash. The aggregate consideration is approximately $6.3 billion, which represents approximately a 40.3 percent premium …
Qatar Re said that the Monetary Authority of Singapore has granted the company a licence to operate a branch office in Singapore. The licence became effective as of 3 October 2016. Micky Lee, previously in charge of Qatar Re’s representative …
Specialty insurer Markel International in London has appointed Mike Wimbridge as senior yacht underwriter to its marine, energy and property division. Joining Markel’s existing hull and war team led by Jason Page, Wimbridge will have responsibility for developing and growing …
The fiercest Caribbean storm in almost a decade ripped into Haiti’s southwestern peninsula early on Tuesday, packing 145 mile-per-hour (230 kph) winds and storm surges that killed at least one person and damaged homes. The eye of the violent Category …
China’s tech giants — Baidu, Alibaba and Tencent — increasingly have a finger in every part of the economy. So why aren’t they bigger participants in what should be an easy sell online: insurance? Some inroads are being made. Last …
People operating self-driving cars need at least six seconds and some cues from the vehicle to “get back in the loop” and take control in time to avoid an accident, researchers say. There are already partially self-driving cars on the …
French insurer AXA has no plans to merge with large rivals, its chief executive told a German newspaper, responding to recent speculation about a possible takeover of Italian peer Generali. “That makes no sense at all,” Thomas Buberl told Sueddeutsche …
American International Group Inc.’s business in Brazil agreed to transfer about 25,000 auto policies to a unit of Porto Seguro SA as the U.S. company scales back its international businesses. The deal is subject to regulatory approval, Sao Paulo-based Porto …
A Tesla Motors Inc. car operating under Autopilot collided with a bus in northern Germany, but the electric car maker said a collision was unavoidable because the bus swerved into the vehicle’s lane. The incident occurred on Wednesday in the …
