International & Reinsurance News for March 2022
- People Moves: Former Pool Re CEO Enoizi Named Carpenter’s Head of Public Sector; AGCS Hires BHSI’s Maxwell as Global Head of Financial Lines
- Qatar Airways Says A350 Surface Flaws Cause Risk of Fuel Tanks Igniting
- Lloyd’s Lab Selects 11 Insurtechs to Test Decarbonization, Climate Change Solutions
- Generali Investor Del Vecchio Backs Change in Insurer’s Leadership
- Occam Completes Purchase of Terrorism-Specialist MGA Beech Underwriting
- Ukraine Urges Marine Insurers to Withdraw Coverage for Russian Shipping Companies
- UK Expands Sanctions That Target Russian Oligarchs’ Jets and Yachts
- Analysis – Cyber Insurers Face Large Ukraine War-Related Claims Despite Exclusions
- Beazley Restructures Its Underwriting Team to Support Growth Ambitions
- Aircraft Leasing Firm AerCap Files $3.5B Insurance Claim for Jets Stuck in Russia
- People Moves: TigerRisk Boosts Delegated Authority Offering; Mosaic Expands M&A Liability Team With 4 Hires; MGU Carbon Names Chubb’s Turner as Property U/W
- Zurich Removes ‘Z’ From Social Media Branding as Russia Uses Symbol in Ukraine War
- UK Cyber Agency Warns Organizations About Use of Russian Computer Technology
- Update: Heavy Rains Deluge Australian Towns for 2nd Time in a Month
- Chubb Buys Renewal Rights of DUAL Asia’s Financial Lines Portfolio
- Credit Suisse Faces $500M-Plus Bill After Ex-Georgian PM Wins Bermuda Court Case
- Jet Leasing Firms Tally Up Losses Stemming From Russia-Ukraine War
- AM Best and S&P Ratings Suspend All Commercial Operations in Russia
- Russian Airlines Could Be Frozen Out of Aircraft Leasing Market After Ukraine War
- Hannover Re Opens Access to Insurtech Innovation Platform, ‘hr | equarium’
- People Moves: WTW Promotes Richardson to Europe Leader for Ins. Consulting & Tech; Miller Launches French Cargo Team; Tamesis DUAL Hires Argenta’s Toth as Dir. of U/W
- Russian Tankers Are Going Dark, Raising Concerns of Sanctions Evasion
- Orsted Sells 50% of British Wind Farm to French Consortium That Includes AXA
- Lloyd’s CEO Neal Hospitalized After Serious Bike Accident
- Irish Lessors Terminate All Russian Airline Leases
- March 2021 Floods in New South Wales, Queensland Cost Insurers A$688M: PERILS
- Trade Credit Insurer Euler Hermes Rebrands as Allianz Trade
- China Examines 2 Black Boxes of Crashed China Eastern Jet as Investigation Continues
- France’s AXA Stops Re/insuring Russian Insurers, Assets
- Generali Fires CEO Donnet’s Internal Rival as Power Struggle Continues
- Analysis – Aircraft Lessors Lose Hope of Getting Back Russian Planes Worth $10B
- Some Credit Suisse Investors Do Not Want to Absolve Execs for Greensill Losses: FT
- London Insurance Brokers Probed for Bribery and Corruption by UK Serious Fraud Office
- Greenlight Re Innovations Invests in Australia’s Audit Insurance Startup AuditCover
- British Police Arrest 7 Suspected Members of Lapsus$ Hacking Group
- Update: Challengers to Generali’s Management Target Higher Growth, Bigger M&A
- Arthur J. Gallagher & Co. Acquires Canada’s PCI Compensation Consulting
- UK’s Asset Freeze of Russian Shipping Firm Sovcomflot Causes Problems for Re/Insurers
- Generali Investor Wants Insurer to Be Multinational ‘With Italian Sovereignty’: Report
- Istanbul-Based Broker GrEC Joins Assurex Global as Partner
- People Moves: Aon Names WTW’s Forrest as CEO of Insurance Consulting, Reinsurance Solutions; Pool Re Hires Former MS Amlin Exec Clementi as CEO, Succeeding Enoizi
- Aston Lark Acquires UK Specialist Broker Braddons
- Bank of England Begins Developing Regulatory Framework for Cryptoassets
- Japan’s Powerful Earthquake Estimated to Cost Insurers $2 Billion-$4 Billion: Verisk
- Lloyd’s Expects ‘Major Claim’ From Russia-Ukraine War, Reports ‘Strong’ Profit in 2021
- Generali Suspends CEO Donnet’s Internal Rival in Ongoing Power Struggle
- Vienna Insurance Group Completes Purchase of Aegon’s Hungary Business for €620M
- Russia’s Seizure of Foreign Jets Triggers Wave of Insurance Claims From Leasing Firms
- People Moves: TigerRisk Hires Aon’s Tuttle as Sr. Reinsurance Broker; HDI Promotes 3 for UK, Ireland Teams; BMS Taps Howden’s Powell as Chief Commercial Officer
- Acrisure Acquires MGA Platform Volante Global From Markel’s Nephila
- Update: One of Two Flight Recorders Located From China Eastern Plane Crash
- European Union Lawmakers Agree to Force Foreign Firms to Comply With ESG Rules
- Russia Offers to Compensate Foreign Lessors of Commandeered Jets
- Will Companies Exiting Russia Be Able to Recoup Losses With Insurance?
- Russia Court Finds Meta Guilty of ‘Extremist Activity’; Ruling Will Not Affect WhatsApp
- People Moves: McGill and Partners Names Aon’s Mignon Deputy CFO; Lockton’s Pye Joins Miller’s Solicitors PI Team; HDI Promotes Dave as UK Head of Aviation & Space
- Russia Says 78 Planes Have Been Seized Abroad After International Sanctions: Report
- EU Proposes Cyber-Security Rules for EU Institutions Amid Rising Cyber Attack Worries
- Update: Japan Warns of Blackouts After Earthquake Causes Major Power Shortage
- Aviation Re/insurers Face Claims as High as $10B From Planes Grounded in Russia
- Financial Market Volatility From Russia-Ukraine War Likely to Affect European Insurers
- Rescuers Hunt for Victims, Flight Recorders After China Eastern Plane Crash
- Former Ethos Broking Executive Tuplin Becomes CEO of Towergate as Thelwell Departs
- People Moves: Zurich Names UK Chief Sustainability Officer; HDI Appoints de Varax to Interim Role to Lead French Branch; Fusion Bolsters APAC M&A Team With 3 Hires
- Miller Acquires Paris-Based Henner Sports
- Marsh Launches ESG Risk Rating to Assess Companies’ ESG Performance
- Paris Taxi Driver Files Legal Complaint Against Tesla After Fatal Crash
- Update: China Eastern Airlines’ Boeing 737-800 Crashes; 132 People Feared Dead
- Norway’s Equinor Shuts Oil Platform as Precaution After Earthquake in North Sea
- World’s Cargo Ships Are Sailing Into Supply Chain Disruptions via Climate Risks: Report
- Bangladesh Files $22.4M Insurance Claim After Missile Hits Ship in Ukraine
- India’s Accidental Missile Launch Endangered Dozens of Passenger Jets
- People Moves: Swiss Re Names Gonzalez as CEO Reinsurance China, McGrath Becomes Regional CEO for Corporate Solutions in N. America
- Mosaic Creates Cyber Underwriting Hub in Bermuda
- Miller Launches Online Platform for High-Net-Worth Clients
- Aircraft Insurers Brace for Barrage of Russia Claims in Possibly Biggest Aviation Loss
- China Vows to Roll Out Market-Friendly Policies, Boosting Battered Shares
- Ping An Insurance Profit Falls 29%
- Swiss Re to Reduce Cover for Oil, Gas Operations
- People Moves: AXA XL Promotes Europe Managers; WTW Names Bassi for Insurance Consulting & Tech; Sedgwick Appoints Horrocks UK Head of Fraud Tech, Intelligence
- Thailand Regulator Orders 2 Non-Life Insurers to Stop Accepting New Clients
- Consumers Risk Losing All Their Crypto Investments, EU Regulators Warn
- Oman Insurance Co. Receives Nod to Underwrite via Lloyd’s Syndicate-in-a-Box
- Burn the Client or Burn the Carbon? Insurer AXA Grapples With Clean Energy Transition.
- Leadership Conundrum: Can Corporate Culture Survive Remote Work Models?
- New Russian Law on Leased Jets Could Help in Claiming Insurance, Air Lease Says
- Update: Magnitude 7.4 Earthquake Hits Near Japan’s Fukushima
- Lloyd’s Slaps Record Fine on Atrium Underwriters for Bullying, Harassment
- Munich Re Exits From Russian, Belarusian Business
- Tussle Over Connected Vehicle Data Moving Into High Gear
- Bermuda Suspends Permits for Russian Planes
- Leading Generali Investor Proposes Insurer’s Austria Chief as New CEO
- Group Vows to Hold Shell Directors Personally Liable for Alleged Climate Plan Failure
- Generali CEO Confident of Closing on Additional Stake in Its Indian Joint Venture
- China Battling Multiple Coronavirus Outbreaks; Shuts Business Hub Shenzhen
- Australian Court Overturns Ruling Requiring Mine Regulator to Weigh Climate Harm to Children
- People Moves: Crawford Names Bart CEO, Int’l Operations; Marsh Appoints Delchar as Head of Placement, UK & Ireland; Pütz to Become Echo Re’s CEO as Meyer Retires
- Gallagher Rebrands India Business After Edelweiss Acquisition
- Russia, Belarus Represent Less Than 1% of Business Transacted by Lloyd’s
- Generali Reports Record Operating Profit in 2021, as Board Battle Looms
- WTW Is Latest Big Insurance Broker to Withdraw From Russia
- Russia Dropped From World’s Top Association of Ship Certifiers as Sanctions Deepen
- People Moves: Latitude Brokers Names Cannock Managing Director, Singapore; Howden M&A Bolsters Asia Pacific Team; Markel Int’l Bolsters Media/Entertainment Team
- India Plans to Launch Life Insurance Corp.’s Delayed IPO in April: Sources
- Australia, Netherlands Start Legal Proceedings Against Russia for Crash of Flight MH17
- Inside Allianz’s $4B Structured Alpha Fund Blowup: Red Flags and Fat Fees
- Swiss Re, Allianz, Other European Financial Services Firms Turn Their Backs on Russia
- Canada’s Definity to Acquire Minority Stake in Broker Apollo Insurance
- People Moves: Sompo Int’l Restructures Insurance Business With 4 Teams; Miller Hires Martin for Sports & Entertainment; CFC Promotes Berry to Cyber Product Leader
- Norwegian Ship Certifier DNV Winds Down Russia Business
- Insurtech MGA Loadsure Raises $11M to Expand Cargo Insurance Technology Platform
- Aircraft Lessors Face Legal Quagmire on Russia Jet Repos. Will Insurers Provide Relief?
- Kazakhstan’s Flagship Air Carrier Suspends Flights to Russia Amid Insurance Issues
- Top Ship Certifier Lloyd’s Register Withdraws Services to Russia
- Mosaic to Buy Sirius Int’l Lloyd’s Managing Agency; SiriusPoint to Be Mosaic Investor
- Update: Marsh McLennan to Exit Businesses in Russia; Aon Suspends Operations
- People Moves: AXA XL Names Bewlay Chief Exec Reinsurance, Replacing Cooper; Marsh Promotes 3 for Affinity; Hartford Hires Generali’s Mather to Lead Int’l Financial Lines
- Russia’s Invasion of Ukraine to Spur More Claims Inflation: Moody’s
- Managers at UK Firms Expect to Dial Back Pandemic-Era Flexible Work Arrangements
- AM Best Raises Country Risk Level for Russia
- Howden Makes Changes to Executive Committee as It Prepares for Aston Lark Purchase
- Private Jet Linked to Russian Billionaire Impounded as UK Deepens Aviation Sanctions
- People Moves: WTW Hires MS Amlin’s Singh; Optio Names Hartford’s Robinson as MD; MS Amlin Adds Sirius’ O’Donnell to Property
- Climate Change Is Making Australia a More Difficult Place to Live: Prime Minister
- Sanctions Against Russia ‘Manageable’ for UK Insurers, Banks: Regulator
- London’s Marine Insurers Widen High-Risk Shipping Areas as Ukraine Conflict Escalates
- Britain Unveils New Aviation Sanctions Against Russia
- U.S. Broker Brown & Brown Agrees to Acquire UK’s Global Risk Partners Ltd.
- Sydney Faces ‘Tough 24 Hours’ as Floods Force Evacuations
- UK’s Specialist Risk Group Becomes Member of Worldwide Broker Network
- Gallagher Launches Insurance Business in Dubai International Financial Centre
- As Foreign Seafarers Are Evacuated From Ukraine, Mariners Count Cost of War
- Russia’s Sovcomflot Re-routes Tankers to Bahamas Amid Growing Sanctions
- EXPLAINER – How Sanctions Against Russia Are Hitting Global Aviation Industry
- How Cloud Downtime Insurance Became a Thing
- Argo Group CEO Rehnberg Takes Health Leave; Bradley Assumes Role for Interim
- Environmental Groups Sue TotalEnergies Over Climate Marketing Claims
- People Moves: Lockton Hires Starr Cos.’ Shephard for Aviation; Arch Promotes Bonneau; AXA XL Names Zhou, Lui as Energy U/Ws in Canada
- Japan’s Top Court Orders Damages of $12M for Fukushima Victims in Landmark Decision
- Re/Insurance Group Aventum Acquires Actuarial Consultant Mulberry Risk
- AIA Group Agrees to Buy Bank of East Asia’s Non-Life Insurance Businesses for $278M
- Property, Motor Vehicle Insurance Claims From Severe Australia Floods at A$900M and Rising
- China Instructs State Insurers to Review Exposure to Russia, Ukraine
- London Halts Stocks, Trade Insurers Withdraw Cover as Isolation of Russia Intensifies
- Ukrainian Cyber Group to Target Russian Power Grid, Railways
- Italian Insurer Generali to Pull Out of Russia, Give Up Seats on Russian Insurer Board
- ANALYSIS-Who Pays? UN Climate Report Reignites Global Fight for Compensation
- DARAG Acquires Guernsey Reinsurance Captive in Run-Off
- Record Floods on Australia’s East Coast Have Cost At Least 14 Lives
- UK to Ban Russian Companies From London Aviation Insurance Market
- Cyberattack on Toyota Supplier Shows How Small Firms Can Pose Big Threat
- Acrisure Continues Global Expansion With Acquisition of Spain’s Summa Brokerage
- Ship Insurer West Withdraws Cover on 2 Russian Ships Over U.S. Sanctions
- Many Boardrooms Still Fail to Grasp ESG Risk, Marsh Review of Annual Reports Finds
- People Moves: Lloyd’s Names Gomez People Officer; McMillan Joins Brace Specialty From Canopius
- Shipping Firm Warns Delays May Damage Perishable Cargo Shipments to Russia
- China Will Not Impose Sanctions on Russia for Ukraine Invasion
- Analysis: Russian Ransomware Attacks on Ukraine Muted by Leaks, Insurance Exclusion
- Insured Losses From February’s Windstorms in Europe Could Reach €4.5 Billion: RMS
- Burnt-Out Cargo Ship With Luxury Cars Sinks Off Portugal’s Azores
- Major Investors to Settle, End Suits Against Allianz Over Losses in Funds Collapse
- Indian Court Blocks Struggling Future Enterprises Sale of Stake in Insurer Generali
- UK’s Howden to Acquire Major Italian Broker Assiteca
- Aon Acquires Tyche Actuarial Platform to Expand Insurance Consulting
- ‘Delay Means Death’ – UN Report Warns Window for Climate Action Is Rapidly Closing
- Toyota Suspends Tokyo Factory Operations After Suspected Cyber Attack
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