International & Reinsurance News for February 2021
- Specialty Re/insurer SiriusPoint Launches with More Than $3 Billion in Capital
- Ascot Promotes Thompson to CEO, Bermuda, as Berger Retires
- Beazley Forms Digital Business Unit to Transform Tech Strategy, Led by Fantozzi
- D&O-Focused MGA, Rising Edge, to Launch in 1st Half
- AI-Driven Insurance Distribution Platform Wins $11 Million Financing Round
- EU Seeks More Protection from Climate Risks by Increasing Resilience, Insurance Cover
- Canadian Insurtech Farmers Edge Raises $100 Million in IPO
- UK Insurer RSA Reports 15% Hike in 2020 Operating Profit
- Irish Insurer FBD More Than Doubles Money Set Aside for Lockdown-Related Claims
- Legacy Specialist Enstar Provides $2.3B Adverse Development Cover for AXA XL
- Munich Re’s 2020 Profit Drops 55% on COVID-19-Related Reinsurance Claims of $4.1B
- Zurich North America Names Aviva’s Kundi as Canada Chief Risk Officer
- Kenya Seeks More Crop Insurance to Cover Small Farms from Climate Change Risks
- Britain Reviews Rulebooks to Keep Financial Services Sector Competitive After Brexit
- AXA Reports 18% Drop in Net Income During 2020 with COVID Claims of $1.8 Billion
- UK Prime Minister Warns Climate Change Is Threat to World Security
- Aviva Pushes Back Deadline for Final Offers for Polish Operations: Sources
- 15 Insurers Stop Doing Business with Nord Stream 2 Pipeline to Avoid Sanctions: Reuters
- French Privacy Watchdog Probes Massive Leak of Sensitive Health Data
- Finland’s Sampo Steps Up Move to Become Pure Insurance Group, Cutting Nordea Stake
- Furtschegger Appointed Global Head of Entertainment Line of Business at AGCS
- AXA, Other Mega-Investors Seek to Avoid Portfolios with Global Warming Potential
- Italy’s Top Insurer Generali to Invest €3.5B in COVID-Hit European Countries
- Plans to Reform UK Insurance Capital Rules Not Part of ‘Deregulatory Agenda’: Minister
- UK, EU to Create Financial Services Cooperation Forum for Market Access Talks
- Lloyd’s Survey Results Show More Inclusive Culture, but Improvement Still Needed
- Munich Re Stops Insuring Nord Stream 2 Pipeline on Fears of U.S. Sanctions
- Lloyd’s Insurer Brit to Stop Insuring Australia’s Adani Coal Mine
- BHSI Appoints MSIG’s Neumann as Head of Casualty in Germany
- UK’s Aviva to Sell French Business for $3.9 Billion, Continuing Core-Market Strategy
- QBE Reports Full-Year 2020 Loss of $1.5 Billion; No Final Dividend Declared
- Third Point Re Announces Appointments to SiriusPoint Leadership Team
- Debris Could Threaten Operations in Space – as Well as Earthbound Activities
- About 1,000 EU Finance Firms, Such as Insurers, Eye Post-Brexit Outposts in UK
- Uber’s UK Court Loss Likely to Trigger More Complaints from Gig Workers Across Europe
- Israeli Insurtech Earnix Reaches $1 Billion Valuation After Financing Round
- Zurich Insurance Appoints De Nil as CEO of Nordics
- Lloyd’s Expects to Reopen Underwriting Room in April or May
- UK to Set Up Green Finance Hubs to Encourage Banks, Insurers to Invest in Renewables
- UK Court Rules Uber Drivers Should Be Classed as Workers, in Blow to Business Model
- Caribbean Agricultural Workers Keep Fighting for Compensation from Pesticide Exposure
- Swiss Re Reports Larger-Than-Expected Annual Loss of US$878 Million
- Specialty Lines MGA Ensurance Completes New Capacity Deal with AXA
- Allianz’ 2020 Operating Profit Drops 9.3% in First Decline Since 2011
- Global Insurance M&A Activity Expected to Soar in 2021
- Global Risk Partners Agrees to Acquire Marsh’s UK Networks Business
- Boeing Issues Global Safety Warning to Pilots in Wake of Indonesian 737 Crash
- France to Boost Cyber Security Defenses After Attacks
- Collapse of Stack at ArcelorMittal South Africa’s Steel Plant Kills 3
- HDI Global Resets International Strategy for Liability Line, Expands Management Team
- Australia Regulator Raises Antitrust Concerns over $30B Aon-Willis Towers Watson Deal
- Internet of Things Devices Increase Risk of Cyber Attacks on Industrial Sector: Lloyd’s
- Spain Prepares Labor Laws that Could Force Food Delivery Apps to Employ Gig Workers
- Ex-UniCredit CEO Teams Up with France’s Richest Man to Form SPAC for Financial Deals
- UK Highlights Rising Political Risk in New Business Guidance on Hong Kong
- Swiss Re Corporate Solutions Appoints Neon’s Dougall as Global Head Casualty
- Uber Urges EU to Recognize Gig Business Model as UK Court Is Set to Rule
- UK Judge Rules Newspaper Violated Duchess Meghan’s Privacy in Publishing Letter
- Macif Seen as Favorite to Buy $3.6B Aviva France; Talks to Sell Italian Unit Advance
- Fire at Indian Firecracker Factory Kills at Least 12, Police Report
- UK High Court Allows Suit Against Shell by Nigerian Farmers, Fishermen Over Oil Spills
- UK Supreme Court to Rule This Week on Workers’ Rights for Uber Drivers
- Investors Eye Windfall From Denied COVID-19 Insurance Claims
- Germany’s Cabinet Advances Bill to Ban Farmers’ Use of Glyphosate by 2024
- Irish Regulator Presses Insurers to Pay COVID-19 Claims Following Court Ruling
- Finnish Insurer Sampo Books Q4 Loss on Banking Group Stake
- Zurich 2020 Profit Drop of 8% Reflects Pandemic, Catastrophe Claims
- EU Experts Hit Roadblock in Trying to Resolve Tech, Carmakers’ Patent Dispute
- In Succession Move, Canopius Names AXA XL’s Robertson Deputy CEO
- Securities Regulators Back International Climate Risk Disclosure Body
- Brexit Boosts Amsterdam Ahead of London as Europe’s Top Stock Trading Center
- Preliminary Report Finds Throttle Problem in Sriwijaya Air Jet That Crashed
- German Court Says EY Auditors Must Testify Before Parliamentary Panel About Wirecard
- A Snowstorm that Cost Nearly $2.2B and Other January Natural Catastrophes: Aon
- UK Insurers Not Likely to See Cuts in Capital Requirements After Brexit: Bank of England
- AI Startup that Uses AI and Partners with Re/insurers, Now Is Seeking Canadian IPO
- UK Broker Specialist Risk Group Buys Trade Credit Specialist, The Channel Partnership
- Chubb Global Markets Creates New Energy Underwriting Team
- Facebook Faces 2nd UK Class Action Lawsuit over Data Harvesting Scandal
- Construction of Controversial UK Coal Mine Now Under Review After Climate Backlash
- Brazilians Bring Lawsuit Against Norsk Hydro over Alleged Pollution
- Fossil Fuel Pollution Kills 8.7 Million People Annually Across the Globe: Research
- EC Pauses Investigation; CEO Says Aon-Willis Merger Still on Track to Close in 1st Half
- UK Insurtech Zego Partners with Irish Mobility Startup Brite to Offer Electric Fleet Cover
- Learning Technologies Group Buys Diversity & Inclusion Specialist PDT Global in UK
- Polish Game Maker CD Projek Hit by Cyber Attack
- Third Point Re Hires 3 Senior Leaders Ahead of Anticipated Merger with Sirius
- Rescuers Search for Workers Trapped at Hydropower Site in Flood-Hit North India
- N. Zealand Stock Exchange Cyber Attack also Targeted Insurers, Banks, Financial Firms
- Climate Models Are Not Designed for Use by Financial Markets, Scientists Warn
- Lloyd’s Launches Global Platform to Drive Resilience to World’s Systemic Risks
- UK Company Directors Could Become Personally Liable for Financial Statements
- Willis Towers Watson to Pay $2.1M Cash Retention Agreements for 4 Executives
- Berkshire Hathaway Specialty Insurance Promotes Blas to Head of Property, Spain
- Arthur J. Gallagher & Co. Completes Acquisition of UK’s Bollington Wilson Group
- UK Lawmakers to Investigate Bain Capital’s Bid for LV= Businesses: Guardian
- Many UK Companies Report Difficulties with Post-Brexit Trade Arrangements: HSBC
- Russian Mining Giant Nornickel Fined $2 Billion for Huge Arctic Fuel Spill
- How a 2020 Cyber Attack Brought the New Zealand Stock Exchange to Its Knees
- Irish Pubs Entitled to Get Lockdown Insurance Payments from FBD: High Court Ruling
- Australian Insurers Declare Catastrophe for Perth Hills Bushfires
- Ex-CNA Hardy Executive Brosnan Named CEO of W. R. Berkley Syndicate Management
- Vale Agrees to Pay Settlement of $7 Billion for Brazilian Mine Disaster in 2019
- Property Catastrophe Bond Placement Reaches Record in 2020 and Q4: Aon
- Quotech and Tenefit Form Partnership to Expand Industry’s Global Risk Intelligence
- Hiscox Appoints Flaquet to Newly Created Role of Chief Transformation Officer
- Applied Underwriters to Acquire UK Yacht Insurance MGA, Concept Special Risks
- Mosaic Launches Bermuda-Based Specialty Insurer, Along with Lloyd’s Syndicate 1609
- Commercial Insurance Prices Rose 22% in Q4, but Some Lines Began to Plateau: Marsh
- Olympic Officials Unveil Rules on Masks, Singing, Transport for COVID-19 Games
- McLarens Acquires Dutch Engineering Claims Company Vanderwal & Joosten
- Hiscox Appoints Nolan from Canopius to Lead Cargo Underwriting Team
- Argo’s Q4 2020 Losses from Natural Disasters and COVID-19 Estimated at $51M
- Croatian Residents Rush to Buy Earthquake Cover After Destructive Quakes in 2020
- Ant Group and China Regulators Agree to Restructuring Plan
- China’s Ping An Insurance Reports First Annual Drop in Profit Since 2008
- Brazilian Dam Claimants to Take BHP Class Action to English Court of Appeal
- Fagan to Step Down as Chief Executive of Catalina Holdings, Succeeded by Hemphill
- Hub International Buys Canada’s John Galon Insurance Services and Galon Management
- As Insurers Exit Coal Underwriting, They May Find It’s Good for Stock Valuations
- Repair Your Damaged Reputations, AM Best Tells UK Insurers
- Climate Change Is Causing Sea Levels to Rise Faster than Most Forecasts
- Sampo Should Sell Holding in Lender Nordea to Focus on Insurance: Activist Investor
- India’s New Rules for Insurance Investments Could Attract U.S., European Insurers
- Aviva Investors Weighs Ditching Holdings in Biggest Carbon Emitters for Climate Inaction
- P/C Insurtech Funding Reaches $4.7B Record in 2020 – A Story in Charts
- UK Businesses Are Being Hit with Post-Brexit Delays, Bureaucracy – And Higher Costs
- International Underwriting Association Elects Zurich’s Kuchinski as Chairman
- Swiss Re Corporate Solutions Names Slack as Head UK, Ireland, S. Africa & EMEA Wholesale
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