It’s a climate deal that has Europe feeling left out in the cold. The continent that used to take the lead in advocating climate action is now taking the lead in climate complaining. And it’s not just upset with the …
XL Re, the global reinsurance operations of XL Capital Ltd., announced changes in the management and underwriting structure of its Latin America operations, effective immediately. The operations continue to be led by Stephen Outerbridge, Chief Underwriting Officer and Chief Operating …
U.N. climate talks ended with a bare-minimum agreement Saturday, Dec.19, when delegates “noted” an accord struck by the United States, China and other emerging powers that falls far short of the conference’s original goals. “Finally we sealed a deal,” U.N. …
China and other big developing nations rejected core targets for a climate deal such as halving world greenhouse gas emissions by 2050 just five days before talks start in Copenhagen, diplomats said Wednesday. China, the world’s top emitter, together with …
The Bermuda-based Max Capital Group Ltd. announced the establishment of a Latin American reinsurance operation and the appointment of two senior managers for the region. Carlos Caputo will serve as CEO of Max’s Latin American business, and Sonia Galvis will …
Swiss Re’s Economic Forum, held today at the reinsurer’s iconic London headquarters, presented a far more encouraging picture of the world’s financial condition than a year ago. However, there may be light at the end of the tunnel, but the …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Swiss-based Mondial Assistance International AG (MAI) and its U.S. subsidiary, New York-based Jefferson Insurance Company. The outlook for …
The Marine insurance market continues to face “choppy seas in the wake of the global economic crisis, with a sharp decline in international trade crippling certain sectors of the shipping community, piracy spreading to new regions, and stalled capital markets …
Tal P. Piccione, Chairman and CEO of international reinsurance brokerage firm U.S. RE Corp., announced that it “has formed a strategic, exclusive, and reciprocal alliance with San Segur, a prominent insurance and reinsurance broker in Buenos Aires, Argentina with access …
Political risk insurance premiums have risen across emerging markets in the last year, fuelled by rising resource nationalism and unrest linked to the financial crisis as well as a renewed concern over risk amongst investors. Foreign direct investors use the …
