International & Reinsurance News for September 2021
- People Moves: Lockton Hires WTW’s Danyluk as Head Int’l Property, Wholesale; HSB Promotes Prentice in Cyber; Apollo’s Ker Becomes Castel’s Head of Performance
- Allianz Transfers Legacy Life Portfolio to Resolution Re, Using Quota Share Reinsurance
- Re/Insurance Cyber Rates Could Double Before 2023, as Attacks Skyrocket: S&P
- Willis Re Launches Flood Model for MENA Region
- Funds Demand Science-Based Emissions Targets From 1,600 Most Polluting Firms
- Hong Kong Firms, Including FWD, Are Flagging China Risks in U.S. IPO Filings
- UK Financial Services Sector Calls for Eased Visa Requirements to Keep Competitiveness
- MS Amlin AG Enters Agriculture Reinsurance Market, Hiring Bektleuov From PartnerRe
- Cash-Strapped China Evergrande Sells Bank Stake to Repay Loan
- Connected Motor Insurtech Ticker and Abacai Partner to Raise Capacity, Expand Offering
- ACORD Releases Re/Insurance Data Standards for Electronic Placing
- CNN Prevents Australians From Accessing Its Facebook Pages, Citing Defamation Risk
- Broker BMS Re Launches Operations in Brazil, Led by 2 Former Guy Carpenter Execs
- People Moves: Amwins Global Risks Launches Underwriting Portfolio Mgmt; AXA XL Promotes MacFarlane to Head of Climate; R&Q Names Pinkes CEO of Legacy Insurance
- Italian Insurer Cattolica Says Its Board Views Generali Takeover Offer as Fair
- Climate Change Ranks as Top Concern for Insurers, Replacing Pandemic
- Brit CEO Wilson on Leave of Absence for Health Reasons; Thompson Named Interim CEO
- People Moves: Mosaic Builds Out International Cyber Team; Howden Appoints 19 for Construction Division Across EMEA
- Australia Insurtech Startup Cover Genius Raises Funds, Boosting Valuation to A$1 Billion
- Allianz in Talks to Transfer Block of Life Assets to Free Up Regulatory Capital: Sources
- UK Accounting Firm Grant Thornton Fined for Audit of Café Chain Patisserie Valerie
- Investors in Insurance-Linked Securities Seek to Avoid Exposure to Secondary Perils
- UN Launches Disaster Insurance Program for Developing Countries
- Generali Board Backs Reappointment of CEO Despite Opposition of 2 Major Shareholders
- Mexican Insurtech Startup Offers Quick Claims Payments for Earthquake Damage
- Generali CEO Donnet Faces Key Test in Face of Opposition From 2 Leading Investors
- Markel Offers Accelerated Return of Capital to Investors in 2 CATCo Funds in Runoff
- Why China Evergrande’s Debt Problems Pose Systemic Risk
- Amazon to Offer Insurance to Small and Medium-Sized UK Businesses: Broker
- Debt-Laden China Evergrande Could Raise $600M by Selling Life Insurance Stake
- Russia’s Renaissance Insurance Plans to Raise Up to $290M in IPO on Moscow Exchange
- Hong Kong Tycoon Richard Li’s Insurer FWD Makes U.S. IPO Filing Public
- Insured Price Tag for Canada’s Summer Storms and Wildfires Nears C$200M
- Flood Modeler JBA Collaborates With South African Broker, Reinsurance Solutions
- Evergrande’s Problems Prompt China’s Banks, Insurers to Pull Back on New Credit
- Mediobanca Boosts Stake in Generali as Battle Over Leadership Heats Up
- 50 Companies Worldwide Are Highly Exposed to Physical Climate Risks, Say Investors
- People Moves: Insurer Aviva Names Montague, Cummings to Exec Committee; Wood to Launch Captive Operation for Price Forbes Bermuda; Wagstaff Is CEO of LMG
- Global Reinsurers Could Be Greatly Underestimating Exposure to Climate Risk: S&P
- People Moves: Howden Names Swiss Re’s Cochrane for Energy Transformation; Apollo Hires Sandi for Casualty Treaty; AXA XL’s MacColl to Atrium to Lead Hull & War
- ‘Attribution Science’ May Help Plaintiffs Push Climate Suits Ahead
- Is Climate Litigation Covered by Insurance?
- Social Inflation or Science: What Is Fueling Climate Litigation?
- Volante Receives ‘In-Principle’ Nod From Lloyd’s to Launch Asta-Managed Syndicate
- Fortegra Europe Opens Branch in Czech Republic
- India Likely to Block Chinese Investment in IPO of Insurance Giant LIC: Reuters
- Russia’s Largest Online Insurer Weighs Acquisitions Ahead of Possible IPO
- People Moves: Beazley Promotes Turk to Head of Strategy; Everest Hires Chubb’s McBride as Head of Claims; Pen Names Hiscox’s Dixon as Head of Tech
- EU Plans to Ease Capital Rules for Insurers to Provide €120 Billion Economic Boost
- HSB Canada Introduces Cyber Coverage for Small Businesses
- Swiss Re Partners with Insurtech Claim Genius for Efficient Motor Claims Using AI
- Cyber Insurtech BOXX Raises US$10M From Zurich Insurance and 2 Other Investors
- China Will Not Build Coal-Fired Power Plants Abroad, Says Xi, in Climate Pledge
- New Zealand Raises Fines for People and Companies that Break COVID-19 Rules
- Analysis of German Activists’ Climate Lawsuit Against BMW and Daimler
- Aston Lark Buys 2 Brokers: Abbey Murphy Insurance and The Health Insurance Co.
- People Moves: AXA XL’s Harth to Liberty Specialty in Germany; Amwins Global Hires Ed Broking’s Keenan for Construction & Engineering; Marsh’s Tigleanu to Lockton Re Cyber
- H.W. Kaufman Group Acquires Chile-Based Prospect Brokers
- Brit Launches Machine Learning Algorithm to Accelerate Catastrophe Claims Response
- MS Amlin AG Appoints Swiss Re’s Wiest as CEO, Stepping Into Role Vacated by Beazley
- Insurtech bolttech Extends Funding Round to $210M, Adding 2 New Investors
- People Moves: Acrisure Re Appoints 4; Amwins Global Risks Hires Beazley’s Hensman, Davies From Lloyd’s; Favre Joins SiriusPoint for Credit, Bond & Political Risk
- UK Insurers Cautiously Willing to Underwrite Fire Safety Risks for High-Rise Recladding Projects: Survey
- Insurtech Foxquilt Raises $8M to Expand Small Business Offering in U.S. and Canada
- Speciality Re/Insurer Convex Launches European Subsidiary With A- Rating From S&P
- Italian Tycoons Seek Allies in Battle Over Choice of Generali’s Next CEO
- Workers in London’s Financial Services Industry Are Returning to Their Desks in Droves
- Fukushima Plant Officials Admit Failure to Probe Cause of Faulty Filters
- Lloyd’s Urges Insurance Workforce With Ethnic Minorities as One-Third of New Hires
- Financial Services Firms Beware, Outsiders Are Cracking the Code
- Zurich Insurance Weighs Selling Some Australian Non-Core Assets
- People Moves: Beazley Names Sanchez to New Cyber Role; AGCS Promotes Vassallo for Energy & Construction; Dyer and Adams Join Marsh’s UK Marine & Cargo Practice
- Reinsurers Face Major Claims Uncertainties, but Reap Benefits of Pricing Tailwinds
- Australia’s Commonwealth Bank Apologizes for Misleading Insurance Sales
- Jensten Group Completes Acquisition of London-Based Tasker Insurance Group
- Dale Partners Receives ‘In-Principle’ Approval to Launch Lloyd’s Managing Agency
- People Moves: Claims Leaders Hired at Generali GC&C; D&O Specialist Rising Edge, and Hamilton Re
- UK COVID-19 Business Insurance Payouts Top One Billion Pounds
- The MGA Market Is Back, Confident and Ready to Expand
- People Moves: AXA XL Promotes Innes to Lead Product & Airports, Aerospace; QBE Hires Besant for New Customer Officer Role; IGI Names Kaur Gill as APAC Financial Lines U/W
- Canada Permits TC Energy to Keep Insurers Secret From Pipeline Activists
- Israeli Fintech Pagaya Agrees to Go Public via $8.5B SPAC Deal
- Generali Says Directors Support Keeping Donnet as CEO
- Climate Change Could Force 200 Million People to Leave Their Homes by 2050
- London Financial Employees Return to Offices Despite Rising Virus Cases
- Cyber Re/Insurance MGA, Envelop Risk, Announces $130 Million Series B Financing
- Gallagher Re Touts Advanced Integrated Reinsurance Analytics Platform
- Foreign Investors Favor India Utilities, Financial Services, Healthcare: Deloitte survey
- People Moves: BMS Australia Hires Gallagher’s Van Dugteren, Aon’s McKenzie; elseco’s Warren to Oneglobal; Miller Appoints WTW’s Goreham to Lead Construction
- Aon Combines Facultative Reinsurance Broking Teams in APAC, Led by Lambrou
- Writing Cyber Is Key to Survival, Munich Re Exec Says
- KCC Estimates Sept. 7 Mexico Earthquake Insured Losses at $200M
- U.S. Hurricane Ida, Haiti Quake, Multiple Major Wildfires Among August’s Disasters: Aon
- Typhoon Chanthu’s Rains, Winds Threaten China Coastal Regions
- Dutch Court Rules Uber Drivers Are Taxi Employees, Not Contractors
- Insurers, Banks See London Remaining a Leading Financial Center
- Volatile Cyber Market Struggles to Boost Reinsurance Capacity
- Two Leading Investors Could Seek New Generali CEO: Reuters
- P/C Reinsurers Maintain Underwriting Discipline, Despite Rising Capacity: Guy Carpenter
- Germany’s Allianz Facing U.S. Justice Probe of Fund Managers, Investors’ $6B Lawsuit
- Britain Looks to Revisit Data Privacy Regulations
- A 9/11 Remembrance From Former Carpenter Chairman Newhouse
- Willis Towers Watson’s New CEO Says It Has $5 Billion for Possible Acquisitions
- Russia’s Tech Giant Yandex Says It Repelled Biggest DDoS Attack in History
- Lloyd’s Reports H1 2021 Profit of £1.4B ($1.9B), with 92.2% Combined Ratio
- For Now, No Need for Federal Cyber Reinsurance Backstop: Experts
- Global Reinsurers Shoulder ‘Considerable Burden’ of COVID-19 Claims
- Atomic Energy Agency Seeks Japan Transparency on Release of Fukushima Water
- Australia’s High Court Rules Publishers Liable for Facebook Comments
- People Moves: FM Global Names Broad, Johnson to New Roles; Koller Joins Amlin From Prudential
- South Africa’s State Insurer Sasria Looking for Bigger Bailout
- World’s Largest Carbon Capturing Technology Plant Starts in Iceland
- Global P/C Premiums Likely to Double by 2040, but Motor Growth Will Slow: Swiss Re
- After Huge Wildfires, Greece Creates Climate Crisis Ministry
- Marshmallow, Black-Founded Insurtech, Is Now a Unicorn
- Credit Suisse Begins Filing Insurance Claims Over Greensill-Linked Funds
- Global Reinsurance Rates, Demand to Continue Rising in 2022
- German Regulators Begin Investigation Into Allianz U.S. Investment Funds
- German Climate Groups Plan Legal Action Against Automakers, Wintershall
- Trinidad and Tobago Gets CCRIF Payment of $2.4M for August Heavy Rains, Flooding
- Vantage Expands Into Healthcare, Excess Casualty in Bermuda, U.S.
- Russia’s Renaissance Insurance Plans $1 Billion IPO in Moscow: Reuters
- People Moves: AXA XL’s Coletti Heads Swiss Re’s New Cyber U/W Team; Zurich Promotes Mantero to Chief Strategy Officer; Everest Names Citigroup’s Modin Pres., Mt. Logan Re
- Enstar Completes Purchase of Controlling Interest in Enhanzed Re From Hillhouse
- Facebook’s WhatsApp to Appeal Ireland’s €225 Million Data Privacy Fine
- Willis Towers Watson Revamps Global Leadership
- India’s Data-Sharing System Promises to Open Finance to Millions
- Reinsurer SCOR Restructures Group Leadership Team
- Analysis: A Divided London? City Tackles Brexit With Twin-Track Finance Revamp
- Aon Acquires Remaining 51% of Aon India Insurance Brokers, Formerly Anviti
- Munich Re Moves Ahead of Swiss Re as Reinsurer With Most GPW: AM Best
- South African Insurer Discovery Says Ping An Investment Costs May Mean Capital Raise
- Singapore Exchange Looks to Tap Into SPAC Trend by Relaxing Rules
- German Insurers’ 2021 Claims Could Reach €11.5B ($13.6B) After Floods, Hail
- People Moves: Former Hamilton Execs Glover, White to Mosaic; Alta Signa Hires AIG’s Lange as Snr. U/W; BHSI Names QBE’s Gállegos as Mgr. for Spain
- Horton Becomes QBE’s CEO; SiriusPoint’s Gibbons Named Head of QBE Re Bermuda
- Ardonagh Advisory Acquires UK Medical Insurance Broker, Usay Group
- Beazley Out as Reinsurer MS Amlin’s CEO; Successor CEO Selected But Not Named
- Milan’s 20-Story Building Blaze Recalls London’s Grenfell Tower Cladding Questions
- Securities Regulators Join Global Network to Explore SPACs
- Chilean Court Approves Caserones Mine Environmental Damage Remediation Plan
- German Labor Chief Says Employers Can’t Ask About Employees’ Vaccine Status
- Arch Capital Closes Acquisition of Westpac Lenders Mortgage Insurance
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