International & Reinsurance News for June 2021
- People Moves: Willis Re’s Johns and Aon’s O’Donoghue to Carpenter; Garzon Succeeds Laidlaw at McLarens’ LatAm Business
- Google Vows to Target Online Financial Scams in Britain
- French Court Refuses to Dismiss Fire Charges Against Buffett-Owned Lubrizol
- Denmark’s Central Bank Compromised by SolarWinds Cyber Attack: Media Report
- EU Weighs Measures to Bring Financial Sector into Line with Its Climate Plans: Sources
- QBE Re Opens Office in Colombia, Hiring Hofmann from Howden
- UK Government Expected to Back Insurance Scheme for Live Entertainment
- Central London Could Lose as Many as 835,000 Jobs to Remote Working: Report
- People Moves: Swiss Re’s Render to Peak Re; Aon’s Denbigh to TigerRisk’s Retro Unit; Price Forbes’ Fox to Oneglobal
- BHSI Introduces D&O Liability and Professional Indemnity Policies in Ireland
- Wilson to Succeed Stovin as President of Markel International
- Swiss Re’s iptiQ and German Real Estate Platform Launch Digital Loss-of-Rent Cover
- EU Permits Free Flow of Data with UK to Avoid Violations of Its Strict Privacy Rules
- EU to Update Workplace Safety Rules, Reflecting Shift to Home Working During COVID
- People Moves: Liberty Mutual’s Streeton to Aon Reins Solutions; Guerin Promoted at Marsh UK Corporate; Ed Broking’s Parker and Lech to Alesco
- French Mutual Insurer Covéa Eyes Purchase of AXA XL’s Reinsurance Business: Reports
- Insured Losses for March’s New South Wales, Queensland Floods Estimated at A$916M
- Update: Hurricane Enrique Brushes Past Mexico’s Pacific Coast
- Dutch Insurer NN Group Offers to Buy Part of MetLife’s European Businesses
- UK Accounting Regulator Probes Greensill and Wyelands Bank Auditors
- Hiscox Agrees to Arbitration Settlement with UK Policyholders over COVID-19 BI Losses
- People Moves: Arch’s Kashuba, TransRe’s Robinson to Ascot; Marsh’s Little to MS Amlin; Allianz’ Schaefer to Howden
- Former Atlantia Execs Face Trial over 2018’s Fatal Genoa Bridge Collapse: Sources
- UK Court of Appeal Confirms Riders for Food Delivery Firm Deliveroo Are Self-Employed
- Update: Deadly, Rare Tornado Devastates Towns in Southern Czech Republic
- Japanese Insurers Struggle with Climate Change Cost Estimates
- Explaining Climate Change and Financial Disclosure for Insurers
- Prince Charles Launches Partnership with Insurance Industry to Tackle Climate Change
- Egypt Expects to Finalize Ever Given Compensation Deal Next Week
- Arch Reinsurance to Acquire UK’s Somerset Bridge Group
- Chaucer Forms Lloyd’s Consortium for Firms Working on China’s Belt & Road Initiative
- Singapore Reinsurers’ Association Re-elects Executive Committee
- EY and Germany’s Finance Minister Blamed for Oversight Failings in Wirecard Collapse
- People Moves: Willis Re’s Loggie to TigerRisk; Aon’s Lee to Lockton Re; Wakam’s Mebarki to Miller
- European Commission to Form Cyber Unit to Fight Growing Online Crime
- Swiss Re Sells Half Its Stake in Phoenix Group for $608 Million
- Insurers, Owners of Seized Ship Reach Agreement in Principle with Suez Canal Authority
- People Moves: Howden Australia Hires 3 from Marsh; Strategic Risk Solutions Appoints Schons in Luxembourg; Quinn Promoted at Liberty Specialty
- Europe’s Insurers Expect Robust M&A Activity and Strong Earnings in 2021: Moody’s
- Budweiser Insurance, Eh? Beer Maker Taps Into Canadians’ Love for BBQs
- BHSI Launches Energy & Technical Lines Casualty Products in UK with Dedicated Team
- Accenture Invests in Swiss Digital Payments Company Imburse
- AXA Partners with Hong Kong Broadband Network to Offer Homeowners Insurance
- Generali Agrees to Buy AXA’s Malaysian P/C and Life Insurance Units
- Sri Lanka Ship Disaster Causes ‘Significant Damage to the Planet’: UN
- CFC Underwriting’s Lloyd’s Syndicate Opens for Trading
- UK Financial Services Sector Cautions About Legislating Work-from-Home Options
- Czech Utility CEZ Manages to Find Insurance After 2 Providers Exit from Coal Coverages
- CEO Views: Successes and Failures in Dealing with Pandemic Challenges
- 8 Reinsurers Provide $897M Cover for Lloyd’s Central Fund with Aon as Placing Broker
- Owners of Ship that Blocked Suez Make New Compensation Offer with Canal Authority
- Ship Carrying Chemicals Sinks Near Sri Lanka Capital, Prompting Pollution Fears
- People Moves: Carpenter’s Schwebach to Aon’s Reinsurance Solutions; Mellor to Credit and Political Risks Team at Miller
- Aon-WTW Merger Would Help Boost Industry’s Innovation. Aon CEO Makes the Case.
- Banning Spectators Is ‘Least Risky’ Option for Tokyo 2020 Games: Medical Experts
- UK Struggles to Adapt to Impact of Climate Change
- Paris-Based Insurtech Akur8 Raises $30 Million for International Expansion
- French Chef Seeks $1.9M from Allianz for Biz Income Losses During COVID Lockdowns
- Goldman Sachs-Backed Broker Aston Lark Buys Premier Insurance Consultants
- People Moves: Howden Hires Sturani and Nanni from Aon; WTW’s Young to Head M&A at Hamilton; Ballantyne Brokers Adds 2 More Senior Roles
- Major Reinsurers Look to Exclude Coal from Treaty Policies, as Climate Pressure Grows
- U.S. Pet Insurer Trupanion Plans Overseas Growth, Hiring Agria’s Wheeler to Lead Expansion
- Court Orders IKEA to Pay $1.2M Fine for Spying on French Employees
- Investigation into Collapse of Mexico City Metro Rail Line Blames Structural Fault
- U.S. Justice Department Files Suit to Block Aon’s Purchase of Willis Towers Watson
- Credit Suisse Begins Filing Insurance Claims Over Greensill Capital Collapse – FT
- A.J. Gallagher Acquires Ontario’s Excess Underwriting Co.
- COVID Crisis Cuts Global Macro Resilience, Raises Insurance Protection Gap: Swiss Re
- Lockton Re Launches Bermuda Office Led by Former Aon Executive Davies
- PwC to Create 100,000 New Jobs to Help Clients Grappling with ESG Reporting
- Britain Calls on EU to Open Financial Services Talks, Urging Bloc to Avoid Protectionism
- People Moves: Carpenter Hires AXA XL’s Gressier; Aon’s Bisset to Lockton Re’s Global Retro Unit; BHSI Canada Promotes Knight
- Broker Verlingue Consolidates European Brand by Launching in Switzerland and Portugal
- Gas Buildup at China Nuclear Plant Prompts Questions from Part Owner EDF
- Danish Wind Giant Finds Unique Solution for Cable Problem Affecting Offshore Farms
- Arthur J. Gallagher Buys Remaining Stake in Hesse & Partner and Hesse Consulting
- Major UK Asset Manager Divests from Insurer AIG over Climate Policies
- Russia Fights Wildfires in Siberia and the Far East
- Acrisure Re Launches Cyber Reinsurance Division in Partnership with Kovrr
- People Moves: Hiscox’s Barriol to Liberty Specialty; Howden MGA DUAL Offers Forestry, Hiring White Oak’s Steward
- Sri Lanka Seeks Interim Claim of $40M from Operator of Wrecked Cargo Ship
- Intact Financial, Tryg Agree to Sell Danish Unit to Alm. Brand for Total of US$2.52 Billion
- Insurance Broker Aston Lark Ireland Buys McMahon Galvin Ltd. in Dublin
- UBS, DWS Move to Submit Final Bids for NN Group’s Asset Management Arm: Sources
- Insurance Council of Australia Declares Flood Catastrophe for Regions of Victoria
- Ransomware Is Key Online Threat Facing UK, Says Cyber Security Chief
- People Moves: Peak Capital’s Manning to Miller; Carpenter’s Jones to Lockton Re, and Aon’s Mula to McGill and Partners
- We Can Work It Out: Negotiations Likely on COVID-19 Reinsurance Losses
- May’s Global Disasters Include Hailstorms, Floods, Cyclones, Quakes, Volcanic Eruption
- SCOR and Covéa Lay Down Legal Swords in Return to ‘Mutually Beneficial Relationship’
- Keystone XL Oil Pipeline Is Terminated After Years of Climate Activism
- Brazil Judge Orders Vale to Pay Damages to Families of Victims of 2019 Mining Disaster
- Deloitte Sued for Allegedly Failing to Find ‘Irregularities’ in Audits of Singapore Oil Trader
- Tysers’ Aylward to BMS’ Delegated Underwriting Authority Division; JLT/Marsh’s Beere to Aston Lark Unit Incepta; Howden’s Jenner to Oneglobal
- AXA Offers €300M to Settle COVID-19-Related BI Claims for French Restaurant Owners
- Floods Could Threaten Denmark’s Financial System: Central Bank
- Volkswagen’s D&O Liability Insurers Agree to Pay €270M of Diesel Emissions Payout
- China Regulator Orders Large Insurers, Banks to Prepare ‘Living Wills’ to Handle Risks
- Tokio Marine Restructures Contingency Team, Promoting Paddon, Refreshing Capacity
- People Moves: Garside Named CUO at Liberty Specialty Markets Bermuda; RSA’s Perry Hired at Hiscox UK’s Art & Private Client Division
- Swedish Activist Investor Cevian Buys 4.95% Stake in UK Insurer Aviva
- Hong Kong Insurance Broker Azure Risk Expands Product Range
- Generali Drops Out of Race to Buy NN’s Asset Manager Arm: Sources
- Forgotten Your Passwords? They Soon May Be Lost Altogether – with Insurers’ Help
- EU Cautions Against Rushing into Public-Private Pandemic Insurance Scheme
- Global Insurers Face Hefty Costs of $15B-$20B to Implement IFRS 17: WTW
- Bank of England Launches Climate Change Stress Test for Insurers, Banks
- Contaminants from Sri Lanka Ship Wreck Could Cause Wide-Reaching Damage
- Failure of Many ‘Zombie’ Companies Likely to Keep Insurance Rates Rising: Swiss Re
- Italian Insurer Cattolica Delays €200M Cash Call due to Generali’s Recent Takeover Offer
- Argo Group to Stop Insuring Canada’s Trans Mountain Pipeline, Joining Other Carriers
- Busier-Than-Normal Cyclone Season Predicted for East Asian Nations
- People Moves: Aon’s Wakefield to Gallagher Re as CEO, Succeeding Behagg; Arch’s Rippert as Head of Mortgage at Aspen; Desmond Promoted at Marsh UK & Ireland
- German Insurtech ELEMENT Raises $19.5M to Continue Growth
- New Global Board for Corporate Sustainability Standards Gets Heavyweight Advisers
- VW Nears Claims Settlement with Former CEO over Dieselgate Scandal
- Families of MH17-Crash Victims Prepare for Painful Phase of Dutch Trial
- Data Recorder Recovered from Ship Carrying Chemicals Sinking Off Sri Lanka
- Canada’s Economical Insurance Launches Platform to Simplify Brokers’ SME Placements
- Key Stage of Nord Stream 2 Gas Pipeline Completed but Insurance Needed
- People Moves: AXA’s Sayce to AGCS as Head of Cyber; AGCS’ Drubhra to HDI; Amwins Hires Miller’s Johnson, AFL’s Ritson, Nationale Nederlanden’s Dekker
- Canadian Fintech Company Ratehub Launches Insurance Brokerage
- Generali, Allianz Are Among Suitors for NN Group’s Asset Manager Arm: Sources
- Willis Towers Watson Collaborates on Hurricane Insurance for Endangered Coral Reef
- Winners Announced for 6th Annual Efma-Accenture Innovation in Insurance Awards
- ‘We Cannot Postpone Again,’ Says Tokyo Olympics Games Boss
- World’s Largest Insurers ‘Failing’ to Address Climate Change, Biodiversity Loss
- Brit Launches Consortium to Simplify Underwriting of Marine War Breach Call Risks
- Hub International Acquires Canada’s Global Credit Risk Management Inc.
- SCOR Canada Reinsurance Appoints Gay as President and CEO, Succeeding Christoff
- Hiscox Completes Legacy Reinsurance Deal with Enstar Group
- Fire-Gutted Container Ship Raises Oil Spill Concerns for Sri Lanka
- BHP to Spend Up to $93M for Environmental Repairs, Reparations in Chile
- Broker Howden Launches World’s 1st Fully Sustainable Insurer, Parhelion
- People Moves: Aon’s Bonner to TigerRisk; Trivitt Promoted at AXIS, RSA’s Birre Julvécourt to BHSI in France
- Fitch Affirms Intact’s Ratings After RSA Acquisition; RSA Subsidiary Upgraded to ‘AA-‘
- Climate Change Protesters Set Off Stink Bomb at Lloyd’s of London in Ongoing Activism
- Russia-Linked Hacking Group Is Behind JBS Cyber Attack: Sources
- Banco do Brasil’s Insurance Unit BB Seguridade to Get New CEO: Report
- Willis Towers Watson Launches Sports and Entertainment Industry Group
- Generali Completes Purchase of AXA’s Greek Units, Forms Bancassurance Agreement
- Intact Financial Corp. and Tryg Complete Acquisition of UK’s RSA Insurance
- Australian, North American Units of World’s Largest Meat Supplier Hit by Cyber Attack
- Heavy Rain Causes Floods in New Zealand’s Canterbury Region, Forcing Evacuations
- Swiss Financial Watchdog Requires Insurers, Banks to Disclose Climate Change Risks
- German Insurtech Wefox Raises $650M in Funding, Valuing Firm at $3B
- Generali Launches $1.4 Billion Bid to Buy Remaining Shares of Italy Rival Cattolica
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