Global Economy
Dislodged Ship Kept in Suez Canal as Compensation Claims Talks Continue
A ship that blocked the Suez Canal for almost a week in March has not been given clearance to leave the waterway as discussions continue over a compensation claim made to the vessel's owner Shoei ...
Watford Holdings Closes Purchase of French P/C Insurer
Bermuda-headquartered Watford Holdings Ltd. closed its purchase of Axeria IARD, a French property/casualty insurance company. Watford has acquired 100 percent of the capital stock of Axeria IARD from ...
As La Nina Fades, U.S. Gulf Coast Still Faces Robust Hurricane Risks
La Nina, the cooling of the equatorial Pacific that shifts weather patterns the world over, is fading away. But California may still be prone to dryness, and the U.S. Gulf Coast faces the risk of ...
Chinese Online Insurance Tech Firm Facing Domestic Pushback Over Planned IPO
Chinese online insurance technology firm Waterdrop Inc is receiving pushback from domestic regulators on its planned U.S. initial public offering as its business model is seen as risky, four people ...
Aon Offers Concessions to Win EU Antitrust Approval for $30B WTW Bid
Insurance broker Aon has offered concessions to gain EU antitrust approval for its $30 billion bid for rival Willis Towers Watson, a European Commission filing showed on Monday. The sector's biggest ...
March U.S. Storms Caused More than $1B in Insured Losses: Aon
An onslaught of U.S. storms and flooding in March caused as much as $2 billion in economic damage. Public and private insurers were likely to see losses surpass $1 billion, Aon plc said in its ...
Global Shipping Backlog Continues Even as Suez Blockage Cleared
A backlog of container ships carrying consumer goods has grown in some key strategic ports after a near week-long blockage in the Suez Canal, adding to ongoing disruptions to global trade, industry ...
U.S. Weather Forecasters Predict Sixth Year of Above-Average Atlantic Storms
The United States should prepare for a sixth year of above-average number of Atlantic hurricanes, Colorado State University (CSU) forecasters said in the first official 2021 outlook on Thursday. The ...