International & Reinsurance News for February 2022
- Riskonnect Acquires UK Risk Management Software Firm Sword GRC
- Facing Antitrust Charges, Irish Insurer Group to Unlock Platform for Nonmembers
- People Moves: Rosa Appointed CEO of Euler Hermes Agency; Gallagher Re Adds Aon’s LaPalme; Marsh Hires Lipinska, Cobb
- Insurtech Descartes Partners With Modeling Firm Reask to Expand Parametric Cover
- AM Best: Ukraine Invasion to Likely Have ‘Substantial Impact’ on Insurance Industry
- India Approves Up to 20% Foreign Direct Investment in Giant Insurer LIC: Source
- VW Fears Most of Its Cars on Cargo Ship ‘Felicity Ace’ Are Beyond Salvage
- Fire on Massive Car Transport Ship, Felicity Ace, Is Likely Extinguished
- Insured Losses for 2 Recent European Windstorms Estimated at €3B-€5B: Verisk
- Insurers Raise Costs of Shipping Through Black Sea for Vessels Still Willing to Sail
- Canada’s Trucker Protests Cost Businesses Tens of Millions in Lost Sales
- W. R. Berkley Corp. Agrees to Sell London Building Known as ‘The Scalpel’ for £718M
- Global Firms Shut Ukraine Operations, as They Weigh Impact of Sanctions on Russia
- Global Aviation Industry Assesses Growing Risks of Doing Business With Russia
- Flash Floods Threaten 126,000 Commercial Buildings in London, and Risk Will Worsen
- AXA Doubles 2021 Net Income to €7.29 Billion
- Swiss Re Corporate Solutions to Open New Canada Branch as Part of N. America Restructuring
- Nigeria Accuses JPMorgan of Ignoring Red Flags for Fraud, Seeks Damages of $1.7B
- Brazilian Hospital Chain Rede D’or Acquires Insurer SulAmerica for $2.6 Billion
- Update: Ukraine Closes Airspace to Civilian Flights as Russian Military Action Begins
- Extreme Wildfires Expected to Increase 30% by 2050
- Startup MGA Rising Edge Targets Low-Layer D&O Business
- People Moves: Beazley’s Eaton to Retire at End of 2022; BHSI Promotes Flesch to Head of Marine in Germany; Oneglobal Latin America Taps Generali’s Silva to Lead Regional Team
- Aston Lark Ireland Buys Marine & General Insurances DAC
- Aging Oil-Storage Ships Pose Safety, Environmental Risks Around the World
- IMF Warns Britain About Relaxing High Regulatory Standards for Insurers, Banks
- Nexus Underwriting Management Ltd. to Be Renamed Kentro Capital Ltd.
- Fire on Car Transport Ship Felicity Ace Continues After One Week
- Munich Re Forecasts 14% Jump in 2022 Profit as It Reports Bounceback From Pandemic
- EU Orders Hungary to Cancel Its Veto of Sale of Aegon Unit to Vienna Insurance
- People Moves: Insurtech BOXX Canada Hires Beazley’s Baker as President; Williams Takes Role of M.D., Hiscox Guernsey; AXA XL Names Wells U/W, Marine – UK & Lloyd’s
- Chinese Authorities Tell Banks, State-Owned Firms to Report Exposure to Ma’s Ant Group
- Prospective Investors in Giant LIC IPO Worried About Gov’t Control of Insurer: Sources
- Allianz Fires 2 Asset Managers Who Ran Group of Collapsed Investment Funds
- UK to Ease Solvency II Insurance Capital Rules to Unlock ‘Billions of Pounds’
- Porsches and Lamborghinis Lost at Sea in Cargo-Ship Fire Could Cost $155 Million
- Update: Ship Carrying Porsches, Audis and Bentleys Catches Fire Near Azores
- Storm Eunice Batters Britain and Ireland With Record Winds Hitting 122 Mph
- People Moves: AXA XL Promotes De Rosa to Head of Construction & Engineering, Reinsurance; IGI Taps Arch’s Tsielepis as CRO; Aqueous Hires 3 Underwriters
- Beware of ‘Zero-Click’ Hacks That Exploit Security Flaws in Phones’ Operating Systems
- ED&F Man Wins Claim Against Singapore Commodities Trader in $283M Metals Fraud
- India’s State-Run Insurer LIC Set to Launch Record $8 Billion IPO on March 11: Sources
- Canada’s Crackdown on Trucker-Protest Funding May Be Challenge for Insurers, Banks
- Update: Devastating Mudslides, Floods Bring Rising Death Toll in Brazil
- Allianz Sets Aside $4.2B to Handle Probes, Lawsuits After Collapse of Investment Funds
- UK Braces for ‘Storm Eunice’ and Hurricane-Strength Gusts on Friday
- Asta and JPO Consulting Launch ARTes, an MGA Specializing in U.S. Inland Marine
- HDI Global Restructures Asia-Pacific Operations, Simplifying Reporting Structures
- Canadian Pension Fund CDPQ to Buy Stake in Cyber-Security Firm ESentire: Sources
- People Moves: BHSI Promotes Alder-Smurthwaite, Emson for UK Casualty; Marsh Names Faull Head of Climate & Sustainability Risk; MS Amlin Appoints 4 for Risk Team
- French Insurer CNP to Stop Financing New Oil/Gas Projects to Help Limit Global Warming
- Former CEO of Allianz UK Appointed as CEO of Hiscox UK
- Generali Chairman to Step Down Amid Investor Tensions That Are ‘Source of Regret’
- AXA Insurance UK Buys Ageas UK’s Commercial Business Renewal Rights
- Argo Group Completes Sale of Brazilian Business to Spice Private Equity
- AXA Consortium in Talks to Buy Stake in Orsted’s UK Offshore Wind Farm
- Insurtech bolttech Buys Singapore-Based Specialist Broker AVA Insurance
- Storms With Hurricane Gusts Set to Batter NW Europe, Driving Wind Power Generation
- Crypto Market Risks Should Be Priority for Global Regulators: Financial Stability Board
- Generali Activist Investors Urge ‘Open Dialog’ to Overcome Perceived Growth Issues
- People Moves: Conduit Re Names Roberts CUO; Brit Appoints Hodgkins as Cyber Underwriting Consultant; Oneglobal Hires Gallagher’s de Lima as CEO, Andean Region
- Insurance Broker Hengguang Among Chinese Firms Filing Small New York IPOs
- Sompo International Opens German Headquarters in Cologne
- Global Insurance M&A Rises in 2021, Despite Pandemic Pressures: Clyde & Co. Report
- Insurer Beazley Partners With Insurtech Gaia to Offer Coverage for IVF Treatment
- Just 3% of White Collar Workers Want to Return Full-Time to Their Offices: Survey
- UK Fintech Vitesse Raises $26M With Participation From Hannover Digital Investments
- People Moves: Fairfax Financial Promotes Clarke to President; AXA XL Names Lee as Head of Claims, Canada; Zurich’s Price Joins SiriusPoint as Head of Travel A&H
- Drought in Spain and Portugal Empties Reservoirs, Ruins Crops
- German Fuel Storage Firm Mabanaft Still Unable to Restore Operations After Cyber Attack
- More Airlines Avoiding Ukraine Airspace Amid Insurance Issues
- India’s Life Insurance Corp. Files IPO Papers to Potentially Raise $8 Billion
- Catholic Church Sex Abuse Panel in Portugal Receives 200 Allegations in First Month
- Parametric Insurtech Startup FloodFlash Raises $15M for International Expansion
- Google’s Online Ad Business Targeted in European Publishers’ Antitrust Complaint
- Greenlight Re Innovations Invests in Cargo Insurtech Startup Redkik
- AXA Completes Sale of Singapore Business to HSBC
- Cyber Criminals Nabbed $1.3B in Ransom Payments Over 2 Years: Report
- People Moves: Liberty Specialty Mkts Names Beattie Head of War & Terrorism; New Dawn Risk Hires Aon’s Khan for Professional Risks, Lothbury’s Vernon for Healthcare/Life Sciences
- Brazilian Miners Likely to Miss Legal Deadline for Removal of Tailings Dams
- UK Insurer Beazley Sees Opportunity (and Risk) in Cyber Market
- 10 Cyber Attacks in 2021 Cost $600M With 40,000 Businesses Put at Risk
- Corporate Climate Targets to Have Limited Impact on Greenhouse Gas Emissions: Report
- Zurich Insurance Reports 35% Increase in 2021 Operating Profit to $5.7 Billion
- Team of Nuclear Experts to Visit Wrecked Fukushima Plant to Check Water Release Plan
- Pan-Nordic Insurer Sampo Reports Stronger Than Expected Q4 Earnings
- People Moves: BHSI Promotes McGriskin to Lead UK FI; Former Enstar Exec Rocke Heads RiverStone Int’l in Bermuda; Tysers Hires Aon’s Lucas for Political Violence & Terrorism Team
- Tokio Marine Invests in Satellite Imaging Specialist ICEYE, Enters NatCat Collaboration
- Vantage Group Raises Additional Capital, Acquires U.S. Admitted Carrier
- Banks Warned to Prepare for Possible Russian-Sponsored Cyber Attack
- Cyclone Batsirai Kills 20 in Madagascar, Weakens Quickly as It Hits Land
- SCOR Reports 19% Premium Growth in January Renewals, Average Price Hikes of 4.9%
- One in Four UK Properties at Risk of Flood, New JBA Model Reveals
- People Moves: QBE Promotes Shallow as Head of Marine; Beazley Names MS Amlin’s Hunter for Open Mkt. Property; TigerRisk Hires Liberty’s Hodges for Analytics, Int’l
- Aston Lark Acquires UK Employee Benefits Specialist, Healthwise Group
- Cyber Attack Targeting German Fuel Storage Stretches to 6th Day
- Credit Suisse Faces Charges It Let Alleged Bulgarian Cocaine Traffickers Launder Money
- COVID-19 Cases Are Dropping, but Many UK Employees Still Opt to Work From Home
- Britain Names Lloyd as Interim Chair of Financial Conduct Authority at ‘Pivotal Time’
- Insurance Services Provider McLarens Opens Madrid Office
- EU Regulators Call for Action to Catch Up to Potential Systemic Risk of Digital Finance
- People Moves: Howden Appoints Former WTW Executive Aubert as CEO of France
- Google Sued by Price Comparison Provider, PriceRunner, for $2.4 Billion
- Cost of UK Auto Insurance in 2021 at 6-Year Low, but Cost Pressures Begin to Bite: ABI
- Shares in French Care Homes Company Korian Drop as It Faces Group Lawsuit
- Cybercrime Gang Tied to Ransomware Attacks in Germany, Colonial Pipeline Hackers
- Beazley’s Digital Division Launches, Aiming to Transform Brokers’ Access
- People Moves: Liberty Specialty Promotes 2, Hires Political Risk U/W; HDI Global Names Röllecke Head of Cyber/Financial; Ex-Lloyd’s CEO Ward Becomes CFC’s Non-Exec. Chair
- Natural Disasters Cost Insurers $116B in 2021, or 63% Higher Than Average: Gallagher Re
- LMA Announces ‘At-the-Box’ or ‘In-the-Office’ Availability for Lloyd’s Underwriters
- Giant Maersk Container Ship Towed Free After Running Aground in North Sea
- KPMG Sued for £1.3B in UK Over Allegations Carillion Audits Were Negligent
- Threat of War in Ukraine Biggest Risk for Insurers of Beijing Winter Olympics
- Oil Production Vessel Explodes Off Coast of Nigeria
- People Moves: Catalina Appoints ERS’ Parker as CEO; WTW Hires Aon’s Grimwade for D&F Team; BMS Names Former Aon Exec Matheson as Canada Chairman
- UK Snack Company Hit by Ransomware Attack, Which Could Cause Delivery Delays
- Crypto Platform Wormhole Says ‘Funds Are Safe’ After Hackers Steal $320M
- Giant Maersk Container Ship Runs Aground in North Sea
- Life Insurance Corp. of India’s Embedded Value Set at More Than $66.8B: Gov’t Official
- Hackers Target Key Fuel-Distribution Firms in Europe
- Generali Asks Italian Regulators to Review of Tycoons’ Stake-Building
- Global Commercial Insurance Rates Keep Moderating, With Exception of Cyber: Marsh
- UK Banks Face Surge in Equal Pay Claims After Landmark Ruling Against BNP Paribas
- Climate Change Litigation: Why Better Disclosure Is Vital as Cases Rise
- Toyota Settles Lawsuit That Blamed Employee’s Suicide on Overwork, Harassment
- Swiss Re Corporate Solutions Promotes 2 in Engineering & Construction; Chubb Names Houghton Head of Distrib., UK & Ireland; Marsh Hires AXA XL’s Latham to Lead ART, UK&I
- Credit Suisse Faces $45.5 Million Claim in Swiss Money-Laundering Trial
- Chile Insurtech Startup Betterfly Plans Overseas Expansion After $125M Funding Round
- MGA Aqueous Secures New Professional Indemnity Capacity From Great American Int’l
- Greenlight Re Innovations Gets ‘In-Principle’ Nod to Launch Lloyd’s Syndicate
- Arthur J. Gallagher & Co. Acquires UK Broker Devitt Insurance Services Ltd.
- People Moves: Chubb Hires Global Aerospace’s Abbott; Brit Names Chaganty as Chief Data Officer; WTW Taps Marsh’s Gardner for GB Renewable Energy & Power Team
- Chaucer Forms Renewable Power Team in Move to Expand Energy Division
- Twitter Files Lawsuit Against German Rule for Online Reporting
- ‘Disturbing’ Culture of Sexual Harassment, Racism, Bullying Found at Rio Tinto: Report
- Cyber MGA Resilience Forms Captive Insurer in Bermuda
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