A powerful earthquake in Italy on Wednesday is not likely to force a 200 million euro ($225.56 million) bond issued to cover such risk into default as the bond has low exposure to the affected region, investors said. The earthquake devastated a string of mountainous towns in central Italy, trapping residents under piles of rubble, killing at least 38 people and leaving thousands homeless. Issued last year by insurer UnipolSai, the Azzurro Re bond was the first so-called catastrophe bond to cover earthquake risk in Italy.
A serving member of the British armed forces was arrested in England on Wednesday as part of an investigation into Northern Ireland-related terrorism, London's Metropolitan Police said. The 30-year-old was arrested in Somerset, southwest England, on suspicion of being involved in preparation for acts of terrorism, police said in a statement. "Today's arrest was pre-planned and intelligence-led as part of an investigation into Northern Ireland related terrorism," the statement said, adding that no armed police were involved in the arrest.
NEW DELHI (AP) — The Indian government plans to ban foreigners, single parents and gay couples from using India's surrogacy services under a proposed law intended to protect poor women from exploitation.