International & Reinsurance News

Four Suspected Houthi Attacks Target Ship Off Yemen, Authorities Say

Four suspected attacks by Yemen’s Houthi rebels targeted a Liberian-flagged oil tanker in the strategic Bab el-Mandeb Strait linking the Gulf of Aden to the Red Sea, including one that saw private security guards shoot and destroy a bomb-loaded drone …

Ukraine Boosts Grain Exports Despite Intensified Russian Attacks

Ukraine is scrambling to ship as much grain as it can this summer, taking advantage of military gains it has made in the Black Sea area to boost exports even as Russia has attacked its ports. Ukraine is a major …

Generali Profit Falls as Europe Flooding Hurts Non-Life Results

Assicurazioni Generali SpA’s second-quarter profit fell 24% from a year earlier, as claims from storms and flooding in Europe weighed on results. Net income in the three months through June declined to €797 million ($870 million) missing the €881 million …

Germany Is Europe’s Prime Target for Audacious ATM Bombings

In the early morning hours of May 6, 2023, an explosion occurred in a bank in the German town of Bad Homburg, sending shattered glass as far as 30 meters away. Two men had broken into the building and filled …

Flight, Voice Data From Brazil Plane Crash Extracted in Probe

Flight and voice data boxes from a plane that crashed in Brazil have been extracted with “100% success,” a government aviation official said, as investigators probe the cause of an accident that killed everyone on board. A preliminary report will …

Australian Pensions Industry Boosts Investments in Natural Catastrophe Reinsurance

The risks from the growing number of natural disasters offer Australia’s largest pension funds a chance to boost returns. Colonial First State, one of the nation’s biggest pension and wealth managers, is looking to add natural catastrophe reinsurance to its …

Japan Issued Its First ‘Megaquake’ Warning After Powerful Tremor

An earthquake off the coast of Japan’s southern island of Kyushu prompted the government to issue its first-ever warning for a megaquake from an undersea trough running along a swath of the country’s coast. Prime Minister Fumio Kishida called off …

Taylor Swift Cancellations Deal Blow to Insurers: Sources

Insurers face millions of dollars in claims after a foiled attack forced three Taylor Swift concerts in Austria to be canceled, though several providers will share out the hit, two people involved in insurance for her tour told Reuters. The …

Update: Australia’s QBE More Than Doubles First-Half Profit, but Misses Estimates

Australia’s QBE Insurance Group on Friday reported a more than twofold jump in its first-half profit, boosted by higher income from premiums, but missed analysts’ view, sending its shares to over a six months low. The company’s gross written premiums …

Hong Kong’s Insurance Boom Lures Job-Seeking Mainlanders

Hong Kong is seeing an influx of professionals from mainland China’s finance and tech sectors who are disillusioned with their career and salary prospects across the border. Many are trying to make a living and stay in the city by …

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