International
UBS Buying Credit Suisse; Assuming More Than $5B in Losses
UBS agreed to buy rival Swiss bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) in stock and agreed to assume up to 5 billion francs ($5.4 billion) in losses in a shotgun merger ...
Intangic MGA Launches Cyber Parametric Policy With Backing From AXA XL
Intangic MGA, a London-based cyber managing general agent (MGA), has been launched with capacity backing from AXA XL, offering new cyber insurance cover for large public corporations headquartered in ...
As the insurance market continues to stabilize, the next phase of the market will reward independent agencies that can respond...
China’s Ping An Insurance Reports 17.6% Drop in 2022 Profit
Ping An Insurance Group Co. of China Ltd., China's largest insurer by market value, reported a 17.6 percent drop in its 2022 annual net profit on Wednesday due to a slump in investment gains. Its ...
Insured Losses From New Zealand Floods Estimated at $1.02B, With Profit Hit Expected
The initial insured losses for the recent floods in the North Island of New Zealand are estimated at NZ$1.65 billion ($1.02 billion), according to PERILS, the independent Zurich-based organization ...
What’s Happening at Fukushima Nuclear Plant 12 Years After Meltdown?
Twelve years after the triple reactor meltdowns at the Fukushima Daiichi nuclear power plant, Japan is preparing to release a massive amount of treated radioactive wastewater into the sea. Japanese ...
Aon Updates Europe Windstorm, Severe Convective Storm Models
Aon plc, a leading global professional services firm, updated its Impact Forecasting Europe Windstorm and Severe Convective Storm (SCS) catastrophe models to incorporate emissions scenarios that ...
War, Inflation, Polarization Driving Global Increase in Political Risk
Inflation, social inequality, environmental concerns, political polarization and the Russia-Ukraine war are among factors that are leading to an increased risk of civil unrest around the world, ...
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 ...