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International & Reinsurance News

Zurich’s First-Quarter P/C Revenue Rises on Higher Premiums

Zurich Å˽ðÁ«´«Ã½Ó³»­ Group AG said revenue from property and casualty insurance rose 12% in the first quarter on a like-for-like basis, helped by higher premiums. Gross written premiums in the business rose 9% from a year earlier, as Asia and …

Oil-Sands Capital of Canada Now Grappling With Second Wildfire

The unofficial capital of Canada’s oil-sands industry is now facing a second wildfire that’s north of the city and closer to major energy operations. The new blaze near Fort McMurray, Alberta, is about 3 hectares (7 acres) in size, and …

Ardonagh Specialty Rebrands Reinsurance Business as ‘Price Forbes Re’

Ardonagh Specialty announced it is naming its reinsurance business Price Forbes Re. The renaming of Inver Re in London and Bermuda and Equinox Re in the US follows the simplification of Ardonagh Specialty’s multiple brands in 2023, with Price Forbes …

Before Global Scrutiny, Indian Spice Maker MDH Faced Many US Rejections

Popular Indian spice brand MDH, under scrutiny for alleged contamination in some products, has since 2021 seen an average 14.5% of its US shipments rejected due to the presence of bacteria, a Reuters analysis of US regulatory data found. Hong …

EU Finalizes Investment Fund Labels to Combat Greenwashing

The European Union’s securities watchdog confirmed on Tuesday final guidelines on when investment funds can label themselves as being “sustainable” without being accused of greenwashing. Trillions of dollars globally have flowed into investments that promote their green attractions, but regulators …

Markets/Coverages: Coalition Enters Excess Cyber Å˽ðÁ«´«Ã½Ó³»­ Market in Australia

Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced it entered the excess cyber insurance market in Australia, enabling businesses to add a layer of risk management to their cyber towers. Australian brokers can now sell coverage …

Update: Wildfire Threat to Oil-Sands Capital Expected to Ease as Winds Shift

The threat of a wildfire bearing down on the unofficial capital of Canada’s oil-sands industry is expected to lessen as temperatures cool and winds shift, though the prospect of rains dousing the flames entirely remains remote. The blaze near Fort …

South Africa’s President Approves Major Health Reform Law; Legal Challenges Expected

South Africa’s President Cyril Ramaphosa signed into law on Wednesday a bill that aims to provide universal health coverage, hailing it as a major step in the journey towards a more just society although critics say they will challenge it …

Brazil States Ask Court to Double Amount Vale, BHP Should Pay for Mining Disaster

Two Brazilian states have asked a court to more than double the amount that miners Vale and BHP, plus a jointly owned tie-up, must pay in damages for a 2015 deadly tailings dam failure, according to a legal document seen …

Britain Rejects Call to Ban Gagging Orders in Financial Services Sector

Britain’s Finance Ministry on Tuesday rejected a call to ban non-disclosure agreements (NDAs), which can be used to silence victims of sexual harassment and abuse, arguing that such clauses do not stop staff reporting concerns to authorities. A report on …

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