Emerging Markets
AXIS CEO: Layoffs, Australia Retail Change Part of Ongoing Revamp
AXIS Capital Holdings is cutting 100 jobs and winding down its retail insurance business in Australia, two months after cancellation of its planned merger with PartnerRe. The Bermuda-based specialty ...
China Explosion and Chile Quake Cost Validus an Estimated $64M
Validus Holdings Ltd. believes it lost just under $64 million from the Port of Tianjin explosion and recent earthquake in Chile, a number that matches its Q2 net income. The Bermuda-based insurance ...
Cyber Attacks Increase, but Boards and Businesses Are Fighting Back
A majority of businesses admit that they experienced at least one cyber attack in the last year; companies also increasingly see these risks as a major threat to their operations. Faced with these ...
Global Capital Standards Finalized For AIG and 8 Other Insurers
The world's nine biggest insurance companies will have to hold more capital under new rules just finalized by global regulators that aim to prevent taxpayer bailouts of the industry in a crisis. ...
Zurich’s Losses Lead to ‘Negative’ Ratings Outlook from A.M. Best
Zurich Insurance Company Ltd.'s A.M. Best ratings outlook is revised from stable to negative, following the company's disclosure of $275 million in losses from explosions at the Port of Tianjin in ...
ACE Launches Debuts VC Liability Coverage in Hong Kong, Singapore
Ace Group unveiled "bespoke" private equity and venture capital liability insurance in Hong Kong and Singapore, reflecting a continued focus on growing its customer base in Asia. The ...
ACE/Chubb Merger Plan Clears Federal Antitrust Regulatory Hurdle
ACE's planned $28 billion acquisition of Chubb cleared a major milestone necessary to meet a hoped-for completion of the deal in the 2016 first quarter. Specifically, the U.S. Federal Trade ...
Hurricane Joaquin’s Emergence Creates Massive East Coast Risk Potential
The weather outlook for the eastern U.S. is starting to resemble the plot of a 1970s disaster movie in which everything that could go wrong did. From the mid-Atlantic to the Northeast, the coastal ...