International
Insurers Face $500M in Claims for Ships Stuck in Ukraine — a Year After Start of War
Insurers are facing half-a-billion dollars in claims for up to 60 commercial ships still stuck in Ukraine a year after the start of the war with Russia, industry sources said. When the conflict ...
Moody’s RMS Estimates $5B Insured Losses From Turkey Quake
The economic and insured losses from the earthquakes that hit southern Turkey on Monday, Feb. 6 continue to escalate as damage information and data keep pouring in. The catastrophe risk modeling firm ...
Post-Brexit Insurance Reform Expected Before December: BoE’s Woods
The Bank of England sought on Monday to allay fears among insurers that it was dragging its feet over a long-trailed and disputed reform of their capital rules, saying a "very good sense" of the ...
Markets/Coverages: Brit Renews and Expands Flagship Cyber Consortium
Brit Ltd. announced the renewal and planned expansion of its leading cyber consortium, Brit Cyber Attack Plus (BCAP), a cyber product designed to protect clients from the impact of physical damage ...
AXIS Capital Commits to Greenhouse Gas Reduction Goals
AXIS Capital Holdings Ltd. announced its commitment to a 50 percent absolute reduction of Scope 1 and 2 greenhouse gas (GHG) emissions by 2030 across its global operations. The action is the ...
Earthquakes in Turkey to Cost Insurers More Than $1 Billion, Verisk Estimates
Economic losses for the Feb. 6, 2023, earthquakes in Turkey will likely exceed $20 billion, while insured losses will likely be more than $1 billion, according to Extreme Event Solutions at Verisk ...
Zurich Insurance Net Income Fell 12%, Internal Profit Rose 12% in 2022
Zurich Insurance Group reported net income attributable to shareholders of $4.6 billion in 2022, a 12 percent decrease from $5.2 billion in 2021, which was driven mainly by a lower level of capital ...
Group of Institutional Investors Back Lawsuit Against Shell’s Board Over Climate Risk
A group of European institutional investors is backing a novel London lawsuit against energy giant Shell's board over alleged climate mismanagement in a case that could have far-reaching implications ...