Chubb has expanded its cyber risk engineering capabilities in the U.K. and Ireland, as it continues to invest in building its cyber enterprise risk management proposition in the region. Chubb’s U.K. and Ireland dedicated cyber risk engineering team, headed by …
Specialist insurer XL Catlin has agreed to acquire Australia’s Brooklyn Underwriting from Paul Hines. Brooklyn is an underwriting agency in Australia and a Lloyd’s approved coverholder, that has been operating in the Australian market for more than two decades, Brooklyn …
American International Group Inc. has agreed to sell its interest in Ascot Underwriting Holdings Ltd. (AUHL) and related syndicate-funding subsidiary Ascot Corporate Name Ltd. to Canada Pension Plan Investment Board (CPPIB) for $1.1 billion. Total consideration for the deal is …
At least six people died and six are missing as Typhoon Meranti, the strongest storm in the world this year, passed through China. The storm, which earlier killed one person and injured several in Taiwan, claimed three lives and left …
Deutsche Bank said it would fight a $14 billion demand from the U.S. Department of Justice to settle claims it missold mortgage-backed securities, a shock bill that raises questions about the future of Germany’s largest lender. The claim against Deutsche, …
Super Typhoon Meranti delivered very strong wind, high storm surge, and flooding precipitation to southern Taiwan as it passed through Luzon Strait near noon local time Wednesday. According to catastrophe modeling firm AIR Worldwide, the strongest storm in the world …
Tesla Motors Inc. said it has no way of knowing whether its Autopilot system was involved in a crash in China that killed the driver because the car was too damaged to transmit data. A court in Beijing’s Chaoyang district …
The Lloyd’s of London insurance market has a queue of companies wanting to join, Chairman John Nelson said on Monday, even as Britain’s vote to leave the European Union casts doubt over its European business. Nelson said last week that …
Reinsurers, forced to cut prices for four years in a row, should target brokers’ fees as the industry seeks to reduce costs, according to Lloyd’s of London Chairman John Nelson. The brokers need to cut profit margins as the industry …
Re/insurers have released redundant liability reserves into their earnings for the past eight years as a result of favorable loss development. This practice has worked well to compensate for low investment yields and soft market prices. But have carriers gone …
