Zurich Insurance Company Ltd. has completed the acquisition of a 70% stake in Kotak Mahindra General Insurance Co. Ltd. for US$670 million – marking the largest foreign investment in India’s general insurance market. “The transaction marks the largest foreign investment …
R&Q Insurance Holdings Ltd. announced it will file for a provisional liquidation in Bermuda – after it had it had exhausted strategic alternatives for a financial rescue. At the same time, R&Q said the proposed sale of 100% of its …
A vessel hit by a sea drone in the Red Sea last week has sunk, the UK Navy said, the second confirmed to go down since Yemen’s Houthi rebels began attacks on shipping in the region. The bulk commodity carrier …
Port strikes at five key five German ports may cost $6 billion (£4.71 billion) in lost trade according to analysis by Russell Group, a data and analytics company. There is a 24-to-48-hour strike by port workers across the five key …
This edition of International People Moves details appointments at Canopius and Swiss Re. A summary of these new hires follows here. Canopius Taps AXA XL’s Houghton as Product Leader, Specialty Canopius, the London-based global specialty and property and casualty re/insurer, …
Wildfires in Canada that burned continuously for over a year. Floods that brought Dubai to a standstill. Deadly heat blanketing the streets of New Delhi. The first half of 2024 has laid bare the catastrophic extremes that now characterize the …
A cohort of Russian-speaking hackers is demanding $50 million from a UK lab-services provider to end a ransomware attack that has paralyzed services at London hospitals for weeks, according to a representative for the group. Qilin, as the group is …
Europe’s ESG rulebook, which is seen as the benchmark for setting sustainability-disclosure requirements worldwide, keeps getting pushback from the regulators charged with enforcing it. In an opinion to the European Commission, regulators for the markets, banking and insurance industries called …
Zurich Insurance Group agreed to sell its iconic office building in downtown Madrid to a Spanish investment fund for about €100 million ($107 million), underscoring the robust demand for real estate in the city. Investment firm Besant Capital has made …
Constantine “Dinos” Iordanou, the chairman of Vantage Group Holdings and former chairman and chief executive officer of Arch Capital Group Ltd. has died. Described as “an industry legend,” as well as “a remarkable businessman, generous philanthropist, and devoted family man” …
