International News

XL Group Completes Catlin Acquisition, Launches New Brand

Following the completion of XL Group plc’s acquisition of Bermuda-based Catlin Group Limited on May 1, XL and Catlin have officially joined operations and launched a new brand, XL Catlin. A new global marketing campaign, reflecting the greater scale, ambition …

Swiss Re Warns That Catastrophe Bonds Risk Subprime Slice-Up

Swiss Re AG, Europe’s second-biggest reinsurer, said regulators should prevent catastrophe bonds from being repackaged like subprime mortgages. “It’s important for traditional players like us and regulators that we make sure we don’t get into a situation where you start …

Global Warming Blamed for 75% of Very Hot Days

If you find yourself sweating out a day that is monstrously hot, chances are you can blame humanity. A new report links three out of four such days to man’s effects on climate. And as climate change worsens around mid-century, …

EU to Require All New Cars be Equipped With Auto Emergency Call Systems

All new vehicles in the European Union will have to be fitted as of 2018 with a system that automatically calls the emergency services in case of an accident. EU lawmakers on Tuesday decided to make the eCall system mandatory …

Endurance Specialty Holdings Appoints Engel as Chief Claims Officer

Endurance Specialty Holdings Ltd., a Bermuda-based specialty provider of property/casualty insurance and reinsurance, appointed James Engel as chief claims officer with responsibility for the overall strategic direction of the company’s global claims operation. Engel joins Endurance with significant experience leading …

Aon Releases Latest Top 10 Global Risk Survey Results

Cyber risk lands in the top ten for the first time in Aon’s latest global risk survey, according to Aon Risk Solutions. Damage to brand and reputation was cited as the top overall concern facing global organizations, further underscoring the …

Experts Gathered in Nepal to Discuss Quake Prep A Week Before it Hit

Nepal’s devastating earthquake was the disaster experts knew was coming. Just a week ago, about 50 earthquake and social scientists from around the world came to Kathmandu, Nepal, to figure out how to get this poor, congested, overdeveloped, shoddily built …

Nepal Earthquake Causes Deadly Mount Everest Avalanche

Mountaineers, guides and porters streamed from Mount Everest base camp on Sunday in the wake of a deadly earthquake-triggered avalanche that obliterated parts of the rocky village of nylon tents. Some warned that dozens of people may still be missing. …

RMS Estimates Insured Losses From Windstorm Niklas Could Hit $1.5B Euro

RMS, the a global catastrophe risk management firm, estimates that insured property losses from Windstorm Niklas will fall between 750 million and 1.5 billion euro. Losses in Germany will account for around three quarters of the total loss. The loss …

UN Weather Agency Scratches ‘Isis’ From Storm Name List

The United Nations’ weather agency has removed “Isis” from a list of future Pacific hurricane names, deeming it inappropriate given that the extremist Islamic State group has used ISIS as an acronym. World Meteorological Organization spokeswoman Clare Nullis in Geneva …

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