London-based Amlin plc, one of Lloyd’s and the UK’s best known insurers, has announced plans to establish a reinsurance company in Switzerland to serve European clients. Amlin said it believes that the company “will provide the European insurance market with …
Airports in Ireland and parts of Britain were closed again for some hours on Tuesday because of the cloud of volcanic ash drifting south from Iceland that wreaked havoc on European air travel last month. Flights in much of continental …
Bermuda-based Aspen Insurance Holdings Limited reported a net profit after tax for the first quarter of 2010 of $18.3 million and operating earnings of $0.01 per diluted ordinary share, compared to a net profit after tax of $91.4 million, and …
Last week’s volcanic ash cloud cost European Union airlines €1.5 to €2.5 billion ($1.98 to $3.3 billion), the European Union executive said as it proposed a series of actions to help the cash-strapped industry. Governments will be able to waive …
European airports started to return to life on Tuesday after five days cut off from the rest of the world by a volcanic ash cloud, but some countries were more cautious after reports a new cloud might be on its …
Flights from large parts of Europe are set to resume on Tuesday under a deal agreed by the European Union to free up airspace closed by a cloud of ash hurled into the sky by an Icelandic volcano. However, with …
The economic impact of the volcanic cloud halting flights across Europe will increase sharply the longer disruption continues, forcing holiday cancellations, delaying deliveries and reducing jet fuel demand. African exporters of flowers and vegetables by air to European supermarkets, technology …
Airlines which stand to lose millions of euros from a cloud of Icelandic volcanic ash disrupting flights and closing airports across northern Europe are expected to have little recourse to recoup losses from insurance companies. “Normally, the airlines are not …
A major eruption of Italy’s Mount Vesuvius could result in 8,000 fatalities, 13,000 serious injuries and total economic losses of more than $24 billion, says a new study. According to the Willis Research Network (WRN), Vesuvius now ranks at the …
A cloud of volcanic ash drifting eastward from Iceland has halted flights across northern Europe, causing widespread disruption. Below are some questions and answers on the aviation risk. What is volcanic ash? Plumes of dust spewed out by volcanoes usually …
