International & Reinsurance News

UK to Classify Data Centers as ‘Critical National Infrastructure’

Britain’s data centers will be classified “critical national infrastructure,” the government said on Thursday [Sept. 12], giving the servers and IT systems that underpin the country’s communications extra protection from cyberattacks. Britain said the move would reassure companies building data …

EU Navy Starts Towing Stricken Red Sea Oil Tanker Hit by Houthis

The European Union’s naval force said it managed to connect tug boats to a burning oil tanker in the Red Sea, and that the vessel is now being towed away. “The tug boats have successfully connected to the vessel and …

Shanghai Slammed by Strongest Typhoon to Hit City Since 1949

The strongest typhoon in more than seven decades has struck China’s financial hub, leading to widespread flight cancellations and disrupting holidaymakers at the start of a days-long national festival. Typhoon Bebinca — known as Beibijia in China — crossed the …

Update: Flood Death Toll Rises as Europe Counts Cost of Storm Boris

Floods ripped through central Europe killing at least 17 people, as governments across the region took emergency measures and prepared to spend hundreds of millions of euros on the cleanup. Flows in the Danube — Europe’s second-longest river — were …

Swiss Insurer Baloise Eyes Changes in Board of Directors, Chairman Says

Swiss insurer Baloise is considering changes in its board of directors, Chairman Thomas von Planta said on Thursday after the company revealed plans to boost returns to shareholders. “We want to strengthen the insurance expertise on the board,” von Planta …

Burning Houthi-Hit Oil Tanker Set for Fresh Rescue Effort

Specialist salvage teams are set to renew efforts to remove a blazing oil tanker that’s been stuck in the Red Sea for over three weeks after it was attacked by Houthi militants, the European Union naval force in the region …

PwC’s China Unit Suspended for 6 Months, Hit With Record Fine for Evergrande Audit

Chinese regulators on Friday hit PwC’s auditing unit in mainland China with a six-month business suspension and a record fine of 441 million yuan ($62 million) over the firm’s audit of troubled property developer China Evergrande Group. Delivering a strong …

Tokio Marine Kiln Launches Specialty Reinsurance Division

Tokio Marine Kiln (TMK), the international specialist insurer, announced the formation of a new Specialty Reinsurance division to support the company’s growth ambitions in the sector. The new division will be led by Phil Taylor who will be appointed head …

UK Retailer Tesco Loses Legal Battle Over ‘Fire and Rehire’ of Staff

Tesco was not entitled to terminate some employees’ contracts and offer to rehire them on less favorable terms, the United Kingdom’s Supreme Court ruled on Thursday. Shopworkers’ union Usdaw took legal action against Britain’s biggest retailer after Tesco sought to …

A Continent Ablaze: South America Surpasses Record for Fires

South America is being ravaged by fire from Brazil’s Amazon rainforest through the world’s largest wetlands to dry forests in Bolivia, breaking a previous record for the number of blazes seen in a year up to Sept. 11. Satellite data …

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