Global Economy
Bermuda Adopts Solvency II ‘Equivalency’ Measures
A bulletin from Bermuda notes that the island's parliament took regulatory action this week to align its regulatory insurance procedure. The goal: recognition by the European Commission as being ...
W.R. Berkley Launches Specialty Arm Focused on Construction Professional Liability
W.R. Berkley Corp. is launching Berkley Construction Professional Liability Underwriters, yet another expansion of its specialty coverage offerings. The new unit will offer professional liability, ...
Guy Carpenter Division Places First Cat Bond For China Perils
GC Securities said it has placed a newly formed catastrophe bond shelf program with China Re - the first of its kind to benefit Chinese insurers/reinsurers and perils. The announcement of the Guy ...
Greek Economic Turmoil May Kill Munich Re Unit’s Acquisition Plan
Munich Re's Ergo Insurance unit may cancel its planned 90.1 million-euro ($100 million) acquisition of Greece's ATE Insurance SA if the country doesn't return to stability. "Depending upon how the ...
Eurozone Insurers Can Withstand Greece’s Instability: A.M. Best
The impact of Greece exiting the eurozone is likely to hit market confidence in the region, although insurers and reinsurers operating in the economic bloc are well positioned to withstand a ...
Hackers, Hitting U.S. Govt., Stole Personal Data From 22.1 Million People
Hackers stole Social Security numbers and other personal data for about 22.1 million people in breaches of the U.S. government's personnel office, the Obama administration said. The total includes ...
Guy Carpenter: July 1 Re Renewals Display More Moderate Decline
July 1 reinsurance renewals show continued price declines, but the downward trend moderated, especially for U.S. wind-exposed programs, Guy Carpenter said in its latest briefing. The Marsh & ...
Bank of England to Give December Verdict on Solvency II Insurer Risk Models
The Bank of England will issue its verdict in December on the models insurance companies use to quantify risk and determine capital requirements as the industry prepares for the new European Union ...