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Nigeria: National Assembly wants Shell to pay nearly $4 billion for 2011 oil spill

Published November 27, 2014 - 6:00am CST

The National Assembly of Nigeria has said that Royal Dutch Shell P.L.C. must pay $3.96 billion for a 2011 oil spill in the country, Reuters reported.

Damage from recent Japan quake unlikely to top $200 million: Catastrophe modeler

Published November 27, 2014 - 6:00am CST

CoreLogic Eqecat, a catastrophe modeler, has said that damage from the recent Japan earthquake is "unlikely to exceed $200 million," reported

Mexico: Lloyd's gets license to open representative office

Published November 27, 2014 - 6:00am CST

Mexican authorities have granted a license to Lloyd's of London to open its first representative office in the country, reports BNamericas citing local press reports.

China: Coal mine fire kills 26 in Liaoning Province

Published November 27, 2014 - 6:00am CST

A fire in a coal mine in China's Liaoning Province has claimed 26 lives, Xinhua reports.

India: 648,000 hectares of crop area damaged by recent Jammu and Kashmir floods

Published November 27, 2014 - 6:00am CST

Kiren Rijiju, a Home Affairs minister in India, has said that the recent Jammu and Kashmir floods damaged 253,000 houses and affected 648,000 hectares of agricultural land, Daily News & Analysis reports.

6.8-magnitude earthquake strikes off Indonesia

Published November 27, 2014 - 6:00am CST

A 6.8-magnitude earthquake has hit off the coast of eastern Indonesia, The Associated Press reported.

Jardine Lloyd Thompson to start business in India in December 2014

Published November 27, 2014 - 6:00am CST

U.K.-based insurance broker Jardine Lloyd Thompson Group P.L.C. will open its first office in India in next month, The Times of India reports.

U.K.: Central bank's plans rules to make senior insurance officials more accountable

Published November 27, 2014 - 6:00am CST

The Bank of England has announced plans to make senior officers at insurers in the United Kingdom more accountable for their decisions, reports Reuters.

Risk management an afterthought for many Brazilian firms: Speakers

By: Paul Bomberger

Published November 26, 2014 - 3:15pm CST

Rio de Janeiro, Brazil — Despite several major disasters since 2000, many companies in Brazil still aren't practicing smart risk management and don't buy insurance to cover most of their risks.

U.K. regulators approve Africa-focused reinsurer One Re

By: Matthew Lerner

Published November 26, 2014 - 11:45am CST

One Re Ltd., a nonlife Africa-focused reinsurer has been approved by U.K. regulators to do business in the United Kingdom, the company said Wednesday.

Georgia Tsiakki named head of risk management at ArgoGlobal

By: Sarah Veysey

Published November 26, 2014 - 9:19am CST

Georgia Tsiakki has been appointed head of risk management at ArgoGlobal, the Lloyd's of London arm of Hamilton, Bermuda-based Argo Group International Holdings Ltd.

Latin American insurance market likely to recover in 2015: Swiss Re

Published November 26, 2014 - 5:31am CST

Swiss Re Ltd. said in a recent report that the weak growth in the Latin American insurance market in 2014 is likely to be followed by a marked recovery in 2015, BNamericas reports.

Nigerian Liability Insurance Pool looks to provide coverage in new business areas

Published November 26, 2014 - 5:30am CST

Richard Borokini, chairman of Nigerian Liability Insurance Pool, has said in an interview that the organization is eyeing new areas of business to provide third party liability coverage, Nigeria's BusinessDay reported.

China: Shanghai plans advanced insurance market

Published November 26, 2014 - 5:29am CST

The municipal government of Shanghai, China, has said that it is looking to transform the city into an international insurance center by 2020, reports.

Reinsurance premium income in GCC region on the rise: Officials

Published November 26, 2014 - 5:27am CST

Experts say that reinsurance premium volume in the Gulf Cooperation Council region has been increasing, primarily because of big infrastructure projects in Saudi Arabia and Qatar, reported Gulf Times.

Air pollution-related issues cost Europe up to $235.15 billion in 2012: Agency

Published November 26, 2014 - 5:26am CST

The European Environment Agency said in a report that problems related to air pollution cost Europe up to €189 billion ($235.15 billion) in 2012, Reuters reports.

China: Sichuan province hit by earthquake

Published November 26, 2014 - 5:24am CST

An earthquake has hit Sichuan province in western China, affecting telephone services and prompting residents to leave their houses, The Associated Press reported citing media reports and officials.

Australia: Storm in Sydney leaves 15,000 properties without power

Published November 26, 2014 - 5:23am CST

A storm has hit Australia's Sydney city, leaving 15,000 properties without power, reported

E.U. approves sale of Banco Santander's insurance units to CNP Assurances

Published November 26, 2014 - 5:20am CST

A European Union executive said that the European Commission has approved the 51% stake sale of Spain-based Banco Santander S.A.'s insurance units to French insurer CNP Assurances S.A., reported

Best puts RenaissanceRe on negative review pending Platinum deal

By: Matthew Lerner

Published November 25, 2014 - 2:31pm CST

Financial ratings agency A.M. Best Co. Inc. has placed certain units of RenaissanceRe Holdings Ltd. under review with negative implications in the wake of its $1.9 billion offer to buy Platinum Underwriters Bermuda Ltd., saying RenRe's move into casualty lines is outside of its core competency.

Cooper Gay launches Latin American energy practice

By: Shelby Livingston

Published November 25, 2014 - 11:10am CST

Cooper Gay Miami, the Latin American headquarters of London-based reinsurance broker Cooper Gay Swett & Crawford Ltd., has created a Latin American energy practice to provide facultative and treaty reinsurance for regional businesses in the oil and gas exploration and power generation sectors.

Marsh unit sets up U.K. terrorism insurance facility

By: Sarah Veysey

Published November 25, 2014 - 9:59am CST

Bowring Marsh, the specialist international placement arm of Marsh L.L.C., on Tuesday launched a U.K. terrorism insurance facility.

Property catastrophe insurance rates to drop at Jan. 1 renewals: Swiss Re

By: Sarah Veysey

Published November 25, 2014 - 9:55am CST

LONDON — Property catastrophe reinsurance rates likely will continue to fall at the upcoming Jan. 1 renewals, but the rate of decrease at subsequent renewals is likely to slow, according to a report by Swiss Re Ltd.

Suzanne Cureton named RMIA general manager

By: Sarah Veysey

Published November 25, 2014 - 9:43am CST

Suzanne Cureton has been appointed general manager of the Risk Management Institution of Australasia, RMIA announced Tuesday.

Danish shipping firm Maersk sets up captive insurer

Published November 25, 2014 - 5:59am CST

Denmark-based A.P. Moller–Maersk Group has set up a captive insurer in order to manage its risks, reported The Copenhagen Post, citing Berlingske.

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