Global Economy
Markel Puts CATCo into Run-Off, Launches New Retrocessional ILS Platform
Markel Corp. announced it is putting its Bermuda insurance linked securities unit Markel CATCo into run-off and also launching a new retrocessional ILS fund platform that will be ready to write ...
Executives See the Pace of Change as a Significant Emerging Risk: Gartner
Executive in multiple industries are anxious about keeping up with change, even as they struggle to take significant action to address this concern. In fact, they rank keeping up with the pace of ...
Global Insured Losses From Natural Disasters Reached $20B in H1: Aon
Global insured losses from natural disasters during the 2019 first half reached an estimated $20 billion, according to Aon's "Global Catastrophe Recap: First Half of 2019." The report noted that the ...
European Heatwave Smashes Records, Foreshadowing a Possible New Normal
Belgian zookeepers fed chickens in giant ice cubes to tigers on Wednesday as northern Europe baked in record temperatures during another heatwave that climate experts believe could become the new ...
French Reinsurer SCOR Generates Substantial Q2 Net Profit
French reinsurer SCOR, which was the target of a failed takeover attempt last year, said its net profit for the second quarter rose 62% from the same period a year ago, helping the company meet ...
A Hardening P/C Insurance Market Has Accelerated and Gone Global: Chubb CEO Greenberg
It is becoming increasingly clear that a hardening property/casualty insurance market has accelerated and gone global after initial signs first materialized earlier in 2019, Chubb Chairman and CEO ...
Facebook Agrees to Pay Record $5B to Settle Privacy Violation Claims
Facebook Inc. agreed to pay a record $5 billion to resolve a U.S. investigation into years of privacy violations, a settlement that increases the board of directors' responsibility for protecting ...
Europe Braces For Second Historic Heatwave
Europe is facing a second heatwave this summer, just weeks after the hottest June on record, intensifying concern over climate change and the rise in extreme weather events. Swathes of northwest ...