International & Reinsurance News for July 2021
- Reinsurers Show Strong Profits During 2nd Half, Rebounding from 2020’s Challenges
- UK’s Managing General Agents’ Association (MGAA) Expands to Republic of Ireland
- Occam Underwriting Promotes Fisher to CEO, Succeeding Gibbins Who Becomes Chair
- ‘Talent War’ Forces Companies Across Globe to Pay Higher Salaries to Woo Workers
- Global Warming Could Kill 83 Million People by Turn of Next Century: Study
- Ireland to Introduce Laws to Make Insurers, Bankers Accountable for Corporate Failings
- Anti-Fraud Tech Company FRISS Raises $65 Million to Fund Expansion
- China Regulator Urges Insurers to Expand Natural Disaster Coverage
- CFC Underwriting Names Newman CEO as Walsh Becomes Group CEO
- Liberty Global Transaction Solutions Group Reorganizes EMEA Team, Led by Messinger
- Insurtech Investment Reaches Record $7.4B for First Half 2021
- Howden Acquires Independent Italian Broker Andrea Scagliarini SpA
- British On-Demand Drone Insurer Flock Raises $17 Million in Funding
- Lloyd’s Plans Insurance for Electric Vehicles, Hydrogen Fuel, in Climate Change Fight
- Aon Launches New Executive Committee Following Decision to Terminate Willis Merger
- Peak Re to Buy Remaining 50% Stake in Caribbean Insurance Group NAGICO
- Claims Adjuster Global Risk Solutions Appoints 4 to Complex Claims Unit in London
- NFP in Canada and Aviation Broker Piiq Risk Form Exclusive Partnership
- World Faces Shortage of Sailors for Commercial Ships, Risking Supply Chains: Report
- Insured Losses from July Floods in Germany Could Approach $6B: AIR Worldwide
- Global Commercial Insurance Price Hikes Moderated Further in Q2: Marsh
- London Court of Appeal Agrees to Reopen $7B Brazil Dam-Collapse Lawsuit Against BHP
- People Moves: Covéa Insurance Names Furness CEO; BHSI Hires Chubb’s Alder-Smurthwaite; Pritchard Promoted at Swiss Re Corporate Solutions
- Arthur J. Gallagher Ends $3.6B Deal to Buy Willis Re, After Aon-Willis Merger Scrapped
- Broker Ardonagh Group Launches Ardonagh Europe to Expand Buy-and-Build Strategy
- Trans-Siberian Railway Bridge Resumes Operations After Repair of Flood Damages
- Disruptions from Cyber Attack Force S. Africa Port Operator to Declare ‘Force Majeure’
- Chubb Launches Insurance for Offshore Wind Farms
- People Moves: ArgoGlobal’s Birtwistle to Howden’s New Reinsurance Casualty Team; Riddell Promoted to CEO of Berkley Re Australia, Succeeding Piper
- Update: Aon and Willis Terminate $30B Merger; Aon to Pay $1B Break-up Fee
- Global Supply Chains Driven to Breaking Point on New COVID Wave, Natural Disasters
- Climate Models May Have Underestimated Impact of Extreme Weather Events
- Update: China’s Financial Hub of Shanghai at Virtual Standstill as Typhoon Makes Landfall
- Insurance Industry Heading to Faster Recovery than After 2008 Financial Crisis: Swiss Re
- Swiss Re Corporate Solutions Bolsters International Programs’ Team with 2 Promotions
- Flooding Damages Bridge on Russia’s Trans-Siberian Railway, Blocking Traffic
- London Staff Want Big Pay Raises Before Returning to Their Desks Full-Time: Survey
- VW Investors Approve $339M Deal to Settle Diesel-Scandal Claims Against Former Execs
- Insurtech bolttech Acquires i-surance to Help Accelerate Expansion Across Europe
- Lloyd’s Council Appoints Guy Carpenter’s Carter as 1st Female Deputy Chair
- Chubb Canada Launches Hub for General Aviation and Non-Major Aerospace Insurance
- Cyber Attack Disrupts Container Operations at Major South African Port
- Germany’s Floods Will See ‘Sizable’ Protection Gap. Could Insurance Demand Increase?
- Major Generali Shareholders Plan to Ask CEO Not to Present New Business Plan: Report
- Hiscox CEO Masojada to Retire at Year End, Succeeded by CFO Hussain
- Deadly Floods in China, Europe Send Stark Reminder of Climate Change Vulnerabilities
- China’s Henan Province Braces for More Rain After Severe Floods Kill at Least 33
- W.R. Berkley-Backed Vehicle Inspection Firm UVeye Raises $60M in New Round
- Casualty Proves to Be a Good Diversifier for Reinsurers: Aon
- Munich Re Reports Q2 Profit Increase of 90%
- Update: China Province Deluged by 1,000-Year Flood, with Rising Death Toll
- Shell to Appeal Landmark Climate Ruling in Dutch Court
- Medical & Commercial International Gets ‘In-Principle’ Nod to Form Lloyd’s Syndicate
- Former Aon Executive Mahoney Named Chairman of Oneglobal Bermuda
- UK Broker Price Forbes Acquires 100% Stake of Chile Business
- UK’s Q2 Auto Insurance Premiums Drop to Lowest Level Since Early 2016: Survey
- UK’s Aviva Calls for Urgent Action to Protect Homes, Businesses from Climate Change
- UK Risk Management Group Airmic Names Combes as Chair
- Africa Specialty Risks Secures $10M of PVT Capacity from Atrium at Lloyd’s
- People Moves: Miller’s Higgins Joins New Broker Inver Re; Hartford Hires AXA XL’s Brodzinski for Global Specialty; Bayman to MS Amlin for Aviation Reinsurance
- German Floods Will Be Expensive but Unlikely to Burn Through Insurers’ Earnings: Fitch
- U.S. Firms Operating in Hong Kong Face Risks, Warns American Chamber of Commerce
- Final Settlement for Brazil’s Samarco Mining Dam Disaster Could Reach $19 Billion
- Britain’s Largest Pub Group Launches Billion-Dollar Suit over COVID-Related BI Claim
- Liberty Mutual Looks to Acquire Malaysian P/C Insurer AmGeneral
- China Plans to Sell Controlling Stake of Revamped Anbang (Now Called Dajia) for $5.2B
- TransRe Reorganizes Global Underwriting Structure, Promoting Key Leaders
- Zego, Supported by Swiss Re, Teams Up with bp to Insure Electric Vehicles in London
- Number of Women on Boards of UK’s Top Financial Firms Rises to 32%: Report
- Death Toll from European Floods Rises Above 180
- S. African Riot Insurer to Shoulder Bulk of Claims After Days of Violent Civil Unrest
- Enstar to Repurchase Hillhouse’s Equity Stake, Buys Controlling Interest in Enhanzed Re
- People Moves: Aon’s EMEA Promotions; Lockton Re Hires Charit from Aon; Miller Names Hobbs as Head of Cyber
- Global P/C Industry Sees Strongest Rate Hikes in 20 Years but Inflation Headwinds Loom
- Fintech and On-Demand Insurer N26 Eyes Value of About $10B in New Fundraising
- Germany Reels from Flood ‘Catastrophe’; Insurers Expect Costly Claims for 2021
- Update: India’s Digital Payments Startup Paytm Seeks to Raise $2.23 Billion in IPO
- People Moves: Everest Re Promotes Moskowitz & Bell; AXIS Re Promotes Stirnemann, Janisch & Phillips; Sompo Hires ArgoGlobal’s Serra
- Storms Cause Heavy Flooding Across Parts of Western and Central Europe
- Uninsured South African Businesses, Wrecked by Civil Unrest, Struggle to Recover
- P/C Insurers Plan to Boost Their Use of Automation: Willis Towers Watson
- Howden Launches Climate Risk and Resilience Division
- Apollo Gets ‘In-Principle’ Approval from Lloyd’s to Create Standalone Syndicate 1971
- Allianz Restructures UK Operations into Distinct Commercial and Personal Businesses
- Coalition Enters Canadian Excess Cyber Insurance Market
- Beazley Renews Capacity Support for Spring Partners’ Financial Institutions Business
- Individual Results of Climate Stress Tests Should Not Be Disclosed: Oversight Group
- Travelers Makes ‘Strategic Minority Investment’ in Fidelis Insurance Holdings
- IGI Launches European Subsidiary in Malta, Led by Mallia-Milanes from MAPFRE
- Marsh Launches Saudi Arabia Engineering Hub
- UK Government’s Safety Plan for High-Rise Buildings Could Push Away Investors: Aviva
- South Africa Develops Public-Private Scheme to Provide Drought Insurance for Farmers
- Mega IPO Planned for India’s Biggest Insurer
- People Moves: AXA XL Hires AXIS’ Watson as Snr U/W; Hartford’s Pallett to Tegron; Chubb’s Bagaric to BHSI; MGA Spring Hires AXA XL’s Stanford
- Remote Working Causes Cyber Attacks to Skyrocket, Says Financial Stability Board
- Broker Ardonagh Opens Data and Risk Management Center in Ireland, Bringing 60 Jobs
- Swiss Markets Watchdog FINMA Names Angehrn from Zurich Insurance as Next CEO
- Ever Given Container Ship Resumes Trip to Rotterdam After 112 Days in Egypt’s Waters
- Rising COVID Outbreaks on Ships Endanger Maritime Workers, Risk Trade Disruptions
- Canadian Municipalities Face Surging Liability Insurance Costs
- Canada Orders Rail Transport Restrictions in Areas with High Wildfire Risk
- Shell Abandons Push to Get Oil Spill Lawsuit to Be Heard in Nigeria
- Goldman Sachs-Backed Broker Aston Lark Acquires UK Golf Club Specialist Linkscover
- MGA Rokstone Receives Coverholder License to Underwrite in Africa
- German Cyber-Security Watchdog Confirms Country’s First ‘Cyber-Catastrophe’
- Europe, U.S. and Canada Slammed by Record Weather Catastrophes in June: Aon
- Daily Mail in Negotiations to Sell Catastrophe Modeling Subsidiary RMS
- Eight Leading Insurers and Reinsurers Launch Net-Zero Climate Alliance
- People Moves: LoPiccolo Takes on Client Engagement at AXIS Re; WTW’s Layton Joins Lockton Re; Futers Returns to RMS in UK
- Consilium Unveils Delegated Underwriting Authority Services for Re/Insurance Market
- Guy Carpenter Launches Suite of Climate Advisory and Modeling Services
- EU Approves Aon-Willis Towers Watson Merger, but Other Roadblocks Remain
- Allianz’ Investment Arm Plans to Cut Holdings in Coal Businesses
- Lloyds Bank Fined $125M for Inaccurate Communications over Home Insurance Renewals
- VW to Appeal Italy Court Decision Ordering $236M Payment in Dieselgate Class Action
- EU Fines VW, BMW $1B for Colluding to Curb Use of Emissions Cleansing Technology
- People Moves: Chubb’s Thanduparakkal to Hiscox, SCOR’s Prabis to Hiscox ILS; Tokio Marine HCC Int’l Hires 3 for Professional Risks
- SiriusPoint Launches Specialty MGA Banyan Risk, Focusing on D&O Insurance
- UK’s Pool Re Launches Advisory Group to Develop Public-Private Solutions for Systemic Risks
- German Consumer Group Files Lawsuit Against Daimler over Diesel Emissions Scandal
- Does It Ever Make Sense for Firms to Pay Ransomware Criminals?
- People Moves: Newland Joins Miller as Head of Renewable Energy; Aon’s McKenzie to BMS in Australia; Dasgupta to Lockton Re
- Ever Given Container Ship Resumes Journey from Suez, 106 Days After Getting Stuck
- Global Financial Regulators Seek Coordinated Response to Climate Change Risk
- Argentinian Satellite Data Company to Go Public with Cantor Fitzgerald SPAC
- British Airways Settles Class Action with 2018 Data Breach Victims
- Record High Temperatures Hit Nordic Region, Arctic Circle, Adding to Wildfire Dangers
- People Moves: Allianz’ Ress to AXA XL; Tye Succeeds Card as Carbon’s CEO; Woodhams Promoted at iprism
- NN Group to Acquire MetLife’s Polish and Greek Businesses for $693 Million
- Aston Lark Acquires UK Broker ES Risks
- Kaseya Ransomware Attack by REvil Gang Is Global in Scale
- Arch Capital Group Closes $700 Million Acquisition of Watford Holdings
- MGA Rokstone Launches US$18M Marine Cargo Facility, Hiring Lloyd’s Veteran Birchard
- As UK Eases COVID Rules, Businesses Concerned About Legal Liability
- Polluters, Not Taxpayers, Should Pay to Clean Up Environmental Damage: EU Auditors
- Update: Ship that Blocked Suez Canal to Be Released; Formal Settlement Is Agreed
- People Moves: PartnerRe’s Hanhart to AXIS Re; Zurich Names Verkerk to New Role of Chief Platform Officer; PwC’s Maxwell to MS Amlin as CRO
- South Korean Insurtech Carrot Doubles Capital with $90 Million Rights Offering
- Tech Giants’ Move into Indian Financial Services Poses Stability Risk: Central Bank
- Indian Fintech Startup Aims to Win Insurance Clients with Fresh $200M Funding Round
- Gallagher Acquires 100% Stake in India’s Edelweiss Gallagher Insurance Brokers
- Howden’s Data Analytics Unit, HX, Launches Insurance Market Information Platform
- People Moves: 3 Promoted at Carpenter and Marsh; Chesman to McGill & Partners; Millwater Heads Global Insurance at Acrisure
- DARAG Sells Non-Legacy Italian Business to NOBIS
- Global Cyber Reinsurance Rates Soar by as Much as 40% During July Renewals: Willis Re
- Update: Britain Unveils Blueprint to ‘Sharpen’ London’s Post-Brexit Competitive Edge
- Insurtech Startup bolttech Raises $180 Million, Valuing Firm at More Than $1B
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