Business Insurance - Web News http://businessinsurance.com/section/news http://www.businessinsurance.com en-us Fri, 3 Jul 2015 10:10:43 EST 10 Aetna to buy Humana for $37 billion in largest insurance deal http://businessinsurance.com/article/20150703/NEWS03/150709930 20150703/NEWS03/150709930 (Reuters) — Health insurer Aetna Inc. said it would buy smaller rival Humana Inc. for about $37 billion in cash and stock, in the largest-ever deal in the insurance industry. Fri, 3 Jul 2015 06:47:19 EST Insurance cost for global aviation sector likely to decline in 2015: AIG official http://businessinsurance.com/article/20150703/NEWS09/150709932 20150703/NEWS09/150709932 Martin Stevens, an official at American International Group Inc., has said that insurance costs for the global airline sector is expected to fall in 2015 despite some huge claims, reports Moneycontrol.com citing the Press Trust of India. Fri, 3 Jul 2015 05:38:32 EST China floods cause nearly $6 billion in losses in first half of 2015 http://businessinsurance.com/article/20150703/NEWS09/150709933 20150703/NEWS09/150709933 Heavy rains, landslides and floods in China have resulted in direct economic losses of 35.3 billion Chinese yuan ($5.7 billion) in 2015 so far, reported The Star Online citing the Economic Information Daily. Fri, 3 Jul 2015 05:37:07 EST Several banks hit by DDoS cyber attacks http://businessinsurance.com/article/20150703/NEWS09/150709934 20150703/NEWS09/150709934 Many banks in the United Arab Emirates were hit by a coordinated distributed-denial-of-service attack on June 30, ITP.net reported. Fri, 3 Jul 2015 05:35:38 EST Ferry workers' strike at France's port of Calais costs U.K. $390 million a day http://businessinsurance.com/article/20150703/NEWS09/150709935 20150703/NEWS09/150709935 The Port of Dover in the United Kingdom has said that the country is losing 250 million ($390 million) a day due to the ongoing strike by French ferry workers at the port of Calais in France, The Telegraph reports. Fri, 3 Jul 2015 05:34:11 EST Alternative reinsurance capital grows to $66 billion: Aon Benfield http://businessinsurance.com/article/20150703/NEWS09/150709936 20150703/NEWS09/150709936 Aon Benfield has said in its latest reinsurance market outlook that alternative reinsurance capital increased over 3% to $66 billion in the first quarter of 2015, Artemis.bm reports. Fri, 3 Jul 2015 05:33:00 EST Hannover Re changes portfolio mix to be underweight catastrophe business: RBC analysts http://businessinsurance.com/article/20150703/NEWS09/150709937 20150703/NEWS09/150709937 Analysts at Canada-based RBC Capital Markets said that Hannover Re S.E. has changed its portfolio mix to be underweight catastrophe business as it finds property catastrophe reinsurance profits to be marginal, reported Artemis.bm. Fri, 3 Jul 2015 05:31:38 EST Enquiries for contaminated products insurance up in India http://businessinsurance.com/article/20150703/NEWS09/150709938 20150703/NEWS09/150709938 Both big and small firms in India are now interested in contaminated products insurance cover following the recent Nestle S.A.'s Maggi noodles controversy in the country, mydigitalfc.com reported. Fri, 3 Jul 2015 05:26:01 EST Volcanic eruption in Indonesia prompts Jetstar to cancel flights http://businessinsurance.com/article/20150703/NEWS09/150709939 20150703/NEWS09/150709939 An eruption of Mount Ruang volcano situated 150 km away from Indonesia's Denpasar city prompted Australian airline Jetstar Airways Pty. Ltd. to cancel its flights to and from Indonesia, Xinhua reported. Fri, 3 Jul 2015 05:24:11 EST Sri Lankan insurers' gross written premium up 5% in 2014 http://businessinsurance.com/article/20150703/NEWS09/150709940 20150703/NEWS09/150709940 The gross written premium generated by Sri Lankan insurers increased 5% year on year to 99.9 billion Sri Lankan rupees ($747 million) in 2014, reports Ceylon Daily News. Fri, 3 Jul 2015 05:21:34 EST