India’s Hindustan Petroleum Corp. (HPCL) canceled the purchase of an Iranian oil cargo earlier this month after its insurance company refused to provide coverage for the crude because of U.S. sanctions, three sources with knowledge of the matter said. HPCL, …
Qatar Reinsurance Co. Ltd. has announced that, with effect from 20 July 2018, it has ceased writing new and renewal business from its branch office in Singapore. The company will work closely with its Singapore-based staff, its clients and broking …
Global insured losses from natural disasters for the first half were preliminarily estimated at US$21 billion, which is 40 percent lower than the 10-year average of US$35 billion and 19 percent lower than the 18-year average of US$26 billion, according …
The Bank of England is war-gaming with lenders and insurers for potential market turmoil on Brexit day. Sam Woods, the central bank’s top supervisor, said contingency planning for Britain’s withdrawal from the European Union will be similar to its preparations …
French reinsurer SCOR said its net profit in the second quarter of this year fell 37 percent to 96 million euros ($112.58 million) because of an accounting charge related to tax reforms in the United States. Excluding the 62 million …
Sciemus, a specialty managing general agency (MGA), is undertaking a series of changes starting with a new name, Occam Underwriting. “Taking its name from ‘Occam’s razor,’ the problem-solving principle that the most straightforward solution is best, Occam Underwriting will bring …
Brexit is the greatest structural challenge facing the London company market, said the chairman of the International Underwriting Association, Malcolm Newman. The UK’s break from the EU is affecting insurers, brokers and clients in varying ways, but none felt as …
Extreme weather that’s gripping northern Europe and parts of Asia may persist through early August, prolonging a deadly heatwave that’s parched crops and sparked devastating forest fires. Temperatures have risen to a record from Japan to Norway because of a …
Seeman Holtz Property & Casualty, Inc. has acquired Lakes Insurance Group, a South Florida agency specializing in commercial insurance serving thousands of South Florida business owners. With this acquisition, Seeman Holtz Property & Casualty continues to strengthen its commercial insurance …
There’s a village in Florida where self-driving cars rule the road, and a Canadian insurance firm wants to come along for the ride. Toronto-based Intact Financial Corp. is investing $3 million in startup Voyage as the companies seek to shape …
