International & Reinsurance News

Typhoon Gaemi Lashes Southeast China After Pounding Taiwan, Flooding Philippines

Typhoon Gaemi lashed towns on China’s coastal Fujian province on Friday with heavy rains and strong winds as the most powerful storm to hit the country this year began its widely watched trek into the populous interior. The storm, which …

Devastating Wildfire Burns Down Almost 50% of Western Canadian Tourist Town

A raging wildfire has devastated the western Canadian tourist town of Jasper, potentially destroying up to 50% of structures, and firefighters were trying Thursday to save as many buildings as possible, authorities said. Jasper is in the middle of mountainous …

Russian Commodities Aren’t Safe in Red Sea as Houthis Attack

Yemen’s Houthi militants have attacked more merchant ships hauling Russian commodities than products from anywhere else in the world, highlighting the limits of safe-passage assurances that the rebels gave Moscow earlier this year. Back in January and March, the Houthis …

AM Best Puts SCOR’s Credit Ratings Under Review After L&H Reserve Announcement

AM Best has placed the credit ratings of SCOR, the Paris-based reinsurer, under review with developing implications. The ratings were placed under review as a result of SCOR’s July 15 publication of an update on its second-quarter 2024 and full-year …

People Moves: Marsh Promotes McKay as UK Advisory Leader; BHSI Launches Surety in Spain, Led by Barbero; IQUW Promotes MacDonald to Head of Property

This edition of International People Moves details appointments at Marsh, Berkshire Hathaway Specialty Insurance (BHSI) and the re/insurer IQUW. A summary of these new hires follows here. Marsh Promotes McKay as UK Advisory Leader Marsh, the insurance brokerage business of …

Explosion and Fire Hit Tequila Factory in Mexico, Killing at Least 5 Workers: Officials

An explosion and fire erupted inside a tequila factory Tuesday, killing at least five workers and injuring two others at the site in the liquor’s namesake town in Jalisco state, Mexican authorities said. The state Civil Protection agency announced late …

WTW Reports 48% Hike in Q2 Net Income With Organic Growth of 6%

WTW reported second quarter net Income of $142 million, an increase of 48% compared to net income of $96 million in the prior-year second quarter. Q2 adjusted net income rose 20% to $263 million, from $219 million reported in the …

Philippines Rushes to Contain Oil Spill From Sunken Tanker

Philippine authorities are rushing to contain an oil spill from a tanker that sank early Thursday, killing one crew member, after Typhoon Gaemi battered the nation. A Philippine-flagged tanker carrying 1.4 million liters of industrial fuel oil capsized 3.6 nautical …

Typhoon Gaemi Aims for China, Leaves Vessels Capsized

Authorities in Taiwan raced to find crew missing from a ship that capsized in bad weather after Typhoon Gaemi ripped through the region before losing strength as it heads toward China. Nine Myanmar nationals were missing from a cargo vessel …

Japanese Population Falls at Fastest Pace in Demographic Crisis

The number of Japanese citizens fell at the fastest clip last year since data collection began in the 1960s, adding pressure on the nation’s social security system and shrinking labor market. The population of Japanese nationals dropped by more than …

International & Reinsurance News Archives by Month