International News

London company market premium grows by 10 % to £27.633bn in 2019

Eco/Invest/Demography, Non-Life       Oct 09, 2020

  London: Premium income for the London company market grew by 10% last year with £21.436bn of large commercial and wholesale risks underwritten by firms in the City. A new report from the International Underwriting Association’s also shows a further £6.197bn was written in other offices...

Lloyd’s launches new report on cities at risk from global threats

  London: Lloyd’s, the world’s leading specialist insurance and reinsurance market, today announced a new report: Cities at risk – Building a resilient future for the world’s urban centres, published in association with Urban Foresight and Newcastle University.  Using four global trends, the report analyses the...

Markel consolidates all Property CAT Reinsurance business under Nephila

Reinsurance       Oct 09, 2020

  RICHMOND, Va Markel Corporation  announced today that it is creating one center of expertise for the global property catastrophe (CAT) reinsurance market by closing its Markel Global Reinsurance property CAT unit and having Nephila become Markel's single point of entry for serving the property CAT...

China joins COVAX initiative for COVID-19 vaccine distribution

Eco/Invest/Demography, Health, Pandemic       Oct 09, 2020

BEIJING China said on Friday it has joined a global COVID-19 vaccine initiative co-led by the World Health Organization (WHO), becoming the biggest economy to date to pledge support to help buy and distribute the shots fairly. The move by China, where the new coronavirus...

AXA XL announces appointments for Asia & Europe Business Unit

Eco/Invest/Demography, Non-Life, Reinsurance       Oct 09, 2020

  Hong Kong: AXA XL Insurance today announced appointments for its Asia & Europe Business Unit, following the implementation on October 1st of its new insurance operating model. The appointments include: •    Marine Charbonnier, Global Programs & Captives Director, Asia & Europe •    Mathieu Daubin, Chief...

U.S. forecaster sees 85% chance of La Niña through winter

A U.S. government weather forecaster on Thursday said there is an 85% chance of La Niña conditions continuing through the upcoming Northern Hemisphere winter. The chance of the weather pattern continuing into the spring of 2021, from February to April, was pegged at 60%.Last month,...

Ant Group's $35 bln IPO unlikely to be hurt by possible U.S. curbs

  HONG KONG: Ant Group's $35 billion initial public offering (IPO) is unlikely to suffer from any U.S. restrictions on the Chinese financial technology giant due to its very limited overseas presence, potential investors and analysts said. U.S. President Donald Trump is considering curbs on Ant,...

Hedge funds make pandemic bet on insurance

Eco/Invest/Demography, Health, Non-Life, Pandemic       Oct 08, 2020

LONDON: Five years after London-based hedge fund Toscafund ditched the shares it held in insurance companies, the $3.5 billion firm and its peers are flocking back, drawn by sharp premium increases which are lifting the sector’s post-coronavirus prospects.Insurers faced a surge in claims spanning trade...

WHO reports record one-day rise in global coronavirus cases amid European outbreak

Eco/Invest/Demography, Health, Non-Life, Pandemic       Oct 08, 2020

  The World Health Organization reported a record one-day increase in global coronavirus cases on Thursday, with the total rising by 338,779 in 24 hours led by a surge of infections in Europe.Europe reported 96,996 new cases, the highest total for the region ever recorded by...