International & Reinsurance News for August 2022
- Exxon Begins Legal Action After Putin Blocks Its Final Russian Exit
- People Moves: TigerRisk Hires Aon’s Rosenberg for ILS Team; Gallagher Re Appoints Delacroix in France; BMS Re Taps Carpenter’s Torres-Ortíz for Caribbean Fac
- Reinsurers Adopt Divergent Strategies About Natural Catastrophe Exposures: S&P
- Insurtech Accelerant Launches $175M Sidecar Investment Vehicle Flywheel Re
- Greenland’s Melting ‘Zombie Ice’ Will Raise Global Sea Level by 10 Inches: Report
- People Moves: Liberty Specialty Promotes Clark for Financial Risk Solutions; BHSI Promotes Hannoun for Middle East Casualty; CNA Canada Names DeBruyn Regional VP
- UN Issues Flash Appeal for $160 Million to Help Pakistan With Floods
- Generali Completes Acquisition of AXA’s Malaysian P/C and Life Businesses
- Reuters: Attacks on Gasfield in Northern Iraq Drive Out U.S. Contractors
- China’s Drought-Hit Regions Now Face Heavy Rains, Flooding
- Win for Qualcomm as No EU Appeal Court Ruling Against $991M Fine
- Zelenskiy Says Crisis Averted as Russian-Held Ukraine Nuclear Plant Regains Power
- ILS Investors Could Help Fill Cyber Re/Insurance Protection Gap if Hurdles Are Overcome
- Droughts, Floods, Other Water-Related Disasters Could Cost Economy $5.6T by 2050
- Britain’s Beaches Face Growing Problem With Sewage Discharges
- Deaths From Pakistan Floods Top 1,000 in ‘Climate Catastrophe’
- Forget Showering, It’s Eat or Heat for Shocked Europeans Hit By Energy Crisis
- People Moves: Liberty Specialty Taps Zurich’s Dutta for Financial Risks; Canopius Hires WTW’s Saville for Cat Research; HDI UK & Ireland Promotes Lavey in Liability Team
- Swiss Health Insurer Under Fire for Offering Discount to Members of Pro-Life Group
- Why Are the World’s Rivers, Canals and Reservoirs Turning to Dust?
- Swiss Re Underwriter Wins Sex Discrimination Suit After Boss Joked About Her Breasts
- Europe’s Record-Breaking Summer Heat Wave Will Be the Norm by 2035: Report
- People Moves: CNA Hardy Taps Zurich’s Crew, Chubb’s Devenish for Mgmt Liability; Aon Strengthens Capital Advisory Unit to Drive Legacy Reinsurance Growth
- Gas Producer Santos Faces New Climate Claim in Landmark Greenwashing Case
- Indian Ocean Off Coast of Somalia to Lose ‘High-Risk Area’ Designation as Piracy Drops
- Russian Coal Exports Effectively Halted by EU Ban, With Re/Insurance as Key Factor
- Rising Premiums, Low Catastrophe Losses Boost U.S., Bermuda Reinsurers’ H1 Profits
- Aston Lark Acquires UK Broker AJ Insurance Service
- Cocktail of Chemicals Contributed to Massive Fish Die-off on Oder River: German Official
- Ukraine Grain Corridors Need More Ships, Affordable Insurance to Accelerate Exports
- Worst Drought in Decades Threatens China’s Economic Recovery
- Tropical Storm Ma-on Takes Aim at Hong Kong, Guangdong Province
- Fox Corp. CEO Lachlan Murdoch Sues Australian News Site for Defamation
- China’s Ping An Insurance H1 Profit Rises 3.9%
- People Moves: Liberty Specialty Markets Promotes Edwards to Lead New Delegated Authority Practice; BHSI Promotes Claims Execs Barker and Kelleher in UK
- Rising Inflation to Hit Profits of European P/C Insurers: GlobalData
- Europe’s Drought May Be Worst in 500 Years: Report
- Allianz in Talks With Chinese Banks to Launch Asset Management Venture: Sources
- PwC Sued by Auditor Over Head Injury Suffered During ‘Pub Golf’ Work Event
- Lloyd’s Insurer Ascot, Marsh Provide Coverage for Grain Ship Sailing From Ukraine
- Reinsurance Capital To Drop $40 Billion at Year-End 2022: AM Best
- Confusion About ESG Prompts EU Watchdog to Urge Rethinking of Rulebook
- Cyber MGA At-Bay Acquires Tech-Solutions Provider Relay
- China Extends Industrial Power Cuts as Drought, Heatwave Threaten Wider Disruptions
- Japanese Chemical Tanker Crashes Into Cargo Ship off Coast of Japan
- Toyota’s Hino Suspends Small Truck Shipments as Data Falsification Scandal Deepens
- New Zealand Weighs Damage After Floods Batter South Island
- People Moves: Moody’s, RMS Names Hare Managing Director of APAC; Catalina Hires Diaz-Matos as Chief Commercial Officer and Chief Legal Officer
- War-Damaged Ukraine Nuclear Plant Could Threaten Europe’s Energy Grid
- Lloyd’s Insurers Must Exclude Catastrophic State-Backed Cyber-Attacks
- Insured Losses From February’s European Windstorms Estimated at €3.7B: PERILS
- Heavy Rain Continues to Flood New Zealand, Forcing Evacuations
- China Sentences Tycoon Xiao to 13 Years, Fines His Financial Services Group $8.1 Billion
- U.S. Businesses in Taiwan See Limited Impact From Tensions With China
- MGA Euclid Transactional Opens Stockholm Office
- Killourhy to Take Helm at QBE Re, Succeeding Postlewhite; Liberty Mutual GRS Taps CRO From Aspen, CUO From Liberty Specialty
- Costa Rica Weighs Raising $2.7 Billion via Sale of State-Owned Insurer, Banks’ Assets
- Front Runner to Be Next UK PM Wants to Review Financial Watchdogs’ Roles: Source
- UK Water Supplier Hit by Cyber Attack, Highlighting Critical Infrastructure Vulnerabilities
- Peoples Moves: AXA XL Promotes Lahrmann as Senior Property U/W, UK & Lloyd’s; Chubb Global Markets Hires Audis From Nexus as General Aviation U/W
- Ocean Re Buys UK-Based Oceva Risk Solutions
- Munich Re Keeps No. 1 Spot in Ranking of 50 Global Reinsurers, With Swiss Re at No. 2
- Beazley’s Smart Tracker Syndicate 5623 Gets Lloyd’s ‘In Principle’ Approval
- Run-off Specialist Premia Completes Loss Portfolio Transfer With Hiscox
- London Workers Could Save Money by Returning to Offices as Bills Soar: Research
- Australia’s Extreme Climate Risks Threaten to Make Home Insurance Unaffordable
- Jensten Group Buys UK-Based Broker J. Bennett & Son
- Financial Services Companies Urged to Hire More Working-Class Managers
- IRB Brasil Re Weighs New Share Offering After Warnings About Capital Adequacy
- Rhine River Water Level Hits New Low, Forcing Some Barges to Halt Transport
- Brazil Fines Vale $16.9M for Lack of Reliable Details About Collapsed Tailings Dam
- Scope of EU Ban on Russian Coal and Fertilizers Jolts Insurers
- People Moves: Hong Kong Reinsurer Peak Re Appoints Nowakowski as CUO
- Hong Kong’s Hang Seng Bank Seeks New Bancassurance Partner After QBE Deal Expires
- Security Firm Finds Cyber Vulnerabilities at Indian Online Insurance Aggregator
- Credit Suisse Steps Up $440M Legal Dispute With SoftBank Over Greensill Funds
- Reinsurance M&A Slows Amid Macroeconomic Risks, Higher Natural Disaster Claims
- Hub International Acquires Canada Broker Jaimac Risk Management
- Dutch Insurer NN Group’s H1 Profit Slips on Impact of Storm Claims
- Wildfires Burn, Farmers Struggle as Another Heatwave Bakes Western Europe
- Weakening UK Regulators Would Undermine Financial Services, Bank of England Warns
- Britain’s Proposed Post-Brexit Financial Reform Explained
- Dissatisfied Claimants Put Carriers at Risk of Losing $170B in Premiums: Accenture
- Update: Zurich Reports 25% Increase in H1 Operating Profit, Beating Expectations
- UK’s Aviva Gives Lower-Paid Staff £1,000 to Help Pay Soaring Energy Bills
- BHSI Hires Kammermann for Exec & Professional Lines in Switzerland; Apollo Taps Beazley’s Foster as Head of Property; MGA Aqueous Hires Hall as Development U/W
- Historic Drought, Low River Levels Threaten to Cripple Trade Across Europe
- UK Insurer Aviva Posts 14% Rise in H1 Operating Profit
- Wildfires Rage in France, Destroying Homes, Forcing Evacuation of Residents
- Amazon Warehouse Walkouts Over Pay Seen Spreading Across UK
- Admiral Sees Cost of Motor Claims Running High in Britain and U.S.
- Litigation Funders Are Fueling a Rise in UK Class Actions
- Worst Storm in Century Floods Seoul, Killing at Least 9, With More Rain Expected
- Ex-Workers at Malaysia Supplier Sue Kimberly-Clark, Ansell Over Alleged Forced Labor
- UK Financial Services Firms Suffer From Record Skills Shortage
- Munich Re’s Profit Slumps as It Takes $1 Billion Hit to Investment Portfolio
- CNA Hardy Online Raises Attachment Points for Excess-of-Loss Cover to £150M
- People Moves: BHSI Enters Commercial Hull in Australasia, Hiring Hesson From QBE; Hannover Re Appoints Swiss Re’s Ooi to Oversee P/C Growth in APAC
- Argenta Ceases Underwriting New and Renewal Business in Singapore
- Brazil’s BB Seguridade Posts 86.6% Rise in Q2 Net Profit
- Argo Group Hands Board Seat to Activist Hedge Fund Firm Voce Capital
- Allianz Weighs Sale of Stake in Saudi Arabia Unit
- Insurers Get Safety Assurances for Ships Exporting Ukraine Grain Through Black Sea
- Rhine River Water Levels in Germany Keep Falling, Forcing Ships to Sail Partly Loaded
- More Grain Ships Safely Depart From Ukrainian Black Sea Ports
- Arthur J. Gallagher & Co. Acquires UK Risk Management Consultant, Another Day
- Insurtech Startup Quotech Announces £1 Million Investment Led by Re/insurer Convex
- Lloyd’s Launches 2nd Protected Cell Company to Provide Greater Flexibility for Investors
- AIA Weighs Purchase of Billion-Dollar Shanghai Tower as Its Expands Business in China
- Ukraine Nuclear-Plant Disaster Is ‘Real Risk,’ IAEA Warns
- Malaysia to Offer Crop Insurance to Strengthen Food Security
- Russia Finds New Route to Get Oil to Market Via Tiny Egyptian Port
- Russian E-commerce Firm Ozon Assesses Damages After Massive Warehouse Fire
- Japan Truck Manufacturer Hino Admits It Faked Emissions Data for 20 Years
- Ukraine Wants Ship Safe Passage Deal Extended Beyond Grain to Other Cargoes
- UK’s Solvency II Reforms Could Open Door to Share-Buyback Bonanza for Insurers
- UK Insurer Aviva Builds Private Client Business With Azur Acquisition
- MGA Incubator NuVenture Launches Product Recall MGA BluNiche
- Cyber Attacks Plague Taiwan After Pelosi Visit Enrages Beijing
- China’s Military Drills Force Shippers to Reroute Vessels to Avoid Taiwan Danger Zones
- Global Insurtech Investment Down 50% in Q2: Gallagher Re
- London Insurance Sector Readies $50M Ukraine Grain Cargo Cover
- BHSI Hires Liberty Specialty’s Ferrari as Head of Transactional Liability in Australasia; AM Best Appoints Curtis for Market Development, Asia-Pacific Region
- Brown & Brown Completes Acquisition of Specialist Wholesale Broker BdB
- Lloyd’s Insurer Hiscox to Provide Insurance for Ukraine Grain Shipments
- Europe’s Rhine River on Brink of Becoming Impassable as Water Levels Drop
- Landfills Soon Could Be Inundated With Thousands of Wind Turbine Blades: Study
- N. Koreans Steal LinkedIn Resumes to Get Remote Work at Crypto Firms: Researchers
- G7 Nations Mull Options to Deprive Moscow of Bumper Oil Profits
- French Insurer AXA Posts 3% Rise in H1 Net Profit
- Floods, Storms Drive Global Insured Catastrophe Losses of US$38B in H1 2022: Swiss Re
- Howden’s Aston Lark Ireland Acquires Sparrow Insurances
- Jensten Group Acquires UK MGA Origin UW
- England Records Driest July Since 1935 Amid Searing Heat Wave
- UK Motor Insurer Direct Line to Raise Premiums After H1 Profit Hit
- Generali Beats Forecasts With H1 Net Profit of $1.4 Billion
- Ardonagh’s Arachas Corporate Brokers to Acquire Glennon Insurances in Ireland
- Climate Change Made Deadly UK Heat Wave at Least 10 Times More Likely: Study
- Global Commercial Insurance Rates Rise 9%, Continuing Moderating Trend: Marsh
- Ukraine Makes 1st Grain Shipment Since Russia’s Invasion in Key Milestone
- Fidelis’ Credit Ratings Under Review After Announcing Plan to Create MGU: AM Best
- Liberty Mutual Insurance Acquires Malaysian Insurer AmGeneral
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