News
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 ...
ACE Doubles Terrorism, Political Violence and War Insurance Capacity
ACE Ltd., which recently announced a $28.3 billion deal to acquire The Chubb Group, is doubling its terrorism, political violence and war insurance capacity. The plan is for ACE to boost its ...
Report: AXIS, PartnerRe May Sweeten Their $6.2B Merger Agreement
Reinsurers AXIS Capital Holdings Ltd and PartnerRe Ltd are considering tweaking their $6.2 billion merger agreement in a bid to fend off a $6.8 billion offer for PartnerRe by EXOR SpA, people ...
Munich Re America Teaming Up With Robotics Firm on Autonomous Vehicle Feasibility Study
Munich Reinsurance America announced Wednesday that it is teaming up with Comet, a developer of ground mobile robotics pilot projects, to conduct a feasibility study focused on autonomous vehicle ...
China Monsoon Economic Loss Near $4B: Aon Benfield
Impact Forecasting, Aon Benfield's catastrophe model development team, reported June figures for catastrophe losses on opposite sides of the global, with China monsoon losses coming in highest at ...
U.S. Power Grid Attack Could Cause $70B Insurance Losses: Lloyd’s Report
A cyber attack on the U.S. power grid in the Northeast would have far-reaching implications including the loss of lives, economic losses of as much as a trillion dollars, the disruption of water ...
W.R. Berkley Forms Colombia Unit; ACE Names Philippines Executive
W.R. Berkley Corp. announced the formation of Berkley International Seguros Colombia S.A., which it said would sell construction all risk, surety, general liability, directors and officers liability, ...
Berkshire Hathaway’s MedPro to Buy Oklahoma Insurer
Berkshire Hathaway's MedPro Group has agreed to acquire Oklahoma healthcare liability insurer PLICO Inc., which is owned by the Oklahoma State Medical Association (OSMA). The boards of each entity ...