Global Economy
Zurich Insurance Declines to Renew Cover for Controversial Trans Mountain Oil Pipeline
Insurer Zurich has decided not to renew cover for the Canadian government's Trans Mountain oil pipeline, said a spokeswoman for the project, which is opposed by environmental campaigners and some ...
W.R. Berkley’s CEO: Workers Comp Rates Could Start Climbing in 2021
For W.R. Berkley Corp. and most other workers compensation carriers, rates have declined for some time. That trend could start reversing itself starting in 2021, CEO W. Robert Berkley Jr. predicted ...
Swiss Re’s First Half Loss Soars to $1.1B, Driven by COVID-19 Costs
Reinsurance company Swiss Re said on Wednesday that claims and reserves of $2.5 billion related to COVID-19 will lead to a net first half loss of about $1.1 billion. The company, which reported the ...
QBE Expects $750M H1 Loss, With COVID-19 and Cat Claims Mostly to Blame
QBE Insurance Group expects to report a first-half, after-tax loss of around $750 million, mainly due to COVID-19 claims and natural catastrophes, which included Australia's bushfires and hailstorms ...
Inconsistent Data Hampers Climate Risk Assessment in Finance
Comparing how banks and insurers from different countries cope with climate change is being hampered by a lack of consistent data, the Financial Stability Board said on Wednesday. Regulators are ...
Chubb Makes North America, Overseas Executive Promotions
Chubb made a few new executive promotions affecting its North America and overseas operations. Tim Stapleton has been named Executive Vice President, Financial Lines, Overseas General Insurance – ...
Hurt by COVID 19, W.R. Berkley’s Profit Plunges
Larger investment losses and COVID-19 took a substantial bite out of W.R. Berkley's 2019 second-quarter net income, but the specialty insurer and reinsurer still stayed in the black overall. Net ...
France Explores Ways to Shield Companies From Impact of Future Pandemics
The French government is looking at ways to shield companies from the impact of future pandemics. The goal is to protect companies and jobs from the damage that major events such as pandemics can ...