The ACE Group of insurance and reinsurance companies today announced the appointment of David Jones to the newly created position of Head of Power for its international property and casualty insurance business. He will be responsible for the continuing growth …
Australia’s Macquarie Group Ltd. is in talks to acquire Fox-Pitt Kelton Cochran Caronia Waller, a small investment bank owned by its management and private equity firm J.C. Flowers & Co LLC, a person familiar with the matter said Thursday. Macquarie …
A major inquiry into Australia’s wildfire disaster earlier this year has found that warning systems are dangerously flawed, and residents in vulnerable areas need better, faster information to escape quick-moving infernos. In its interim report, the government-appointed commission into the …
Greensburg, Kan., which was nearly wiped off the map by a tornado two years ago, is famous for having the world’s largest hand-dug well and the world’s largest pallasite meteorite. Now it’s another tourist attraction, not those claims to fame, …
The UK-based broker Miller Insurance Services Limited announced that it will now be offering facultative reinsurance capability out of its Singapore office following the additions of Nigel Cross and Adam Fuller. Cross joins Miller Singapore as Head of Asia Facultative …
Some Asia-Pacific nations criticized U.S. and other developed world protectionism on Tuesday at a meeting aimed at spurring a global trade pact and revitalizing the global economy. Thai Commerce Minister Pornthiva Nakasai, meeting her Asia-Pacific Economic Cooperation counterparts including the …
According to catastrophe risk modeling firm AIR Worldwide, a major earthquake struck off the southwestern coast of New Zealand on Wednesday July 15 at 8:22 p.m. local time (9:22 a.m. UTC). The United States Geological Survey has issued a preliminary …
Most bond insurers are headed for liquidation or run-off as losses from troubled assets linger, an analyst at independent research firm CreditSights said Tuesday. While some insurers, such as MBIA and Ambac , are stronger than others, “we think the …
El Nino weather anomaly has developed and it may not be as strong as the killer which struck more than a decade ago, the U.S. Climate Prediction Center said Thursday. The CPC, an office under the National Oceanic Atmospheric Administration, …
The development of an El Nino weather pattern is increasing and at this stage may be a medium-strength event, but it could take months for it to be officially declared, Australia’s weather bureau said. “We are warming reasonably rapidly. The …
