International & Reinsurance News for November 2021
- MGA CFC Underwriting Launches Tool That Calculates Ransomware Costs
- People Moves: QBE Names Liberty Mutual’s Hunter as Dir. of Canada; Amwins Global Risks Hires Apollo’s Graham for Casualty; Ardonagh Promotes 2 Snr. Leaders
- China’s Regulator Issues New Rules for Risk Management of Insurance Groups
- Convex Gets NAIC Approval to Operate as Reciprocal Jurisdiction Reinsurer in U.S.
- Bain Capital Makes Final Pitch for UK Mutual Insurer LV=
- China Sets Rules to Protect Drivers’ Rights in Ride-Hailing Industry, Requiring Insurance
- Australia’s Westpac Bank to Pay $80.6M in Penalties, Admits Charging Dead People
- Owners of Thai Insurer Syn Mun Kong Explore Sale of Majority Stake
- Definity Financial’s CEO Plots Acquisitions After Insurer’s Canadian IPO
- Moody’s Analytics Launches Asset-Liability Management Tool for Insurance Investment
- Chubb Promotes Rayan and Edey for Consumer Lines Distribution and Financial Lines, Respectively; Hiscox Hires Hartford’s Pearsall as Line U/W for D&O
- As COVID Spread, European P/C Insurers Took Hits but Remained Resilient: AM Best
- Activist Group Calls on Insurers to Sue Oil Companies for Climate Damages
- Travelers Weigh Canceling, Delaying Trips as Countries Tighten Rules on Omicron Fears
- Flood-Stricken British Columbia Weighs Cost of Climate-Proofing Infrastructure
- Insurtech Startup Kettle Raises $25M to Expand Wildfire Reinsurance Protection
- Thai Activists’ iPhones Targeted by ‘State-Sponsored Attackers,’ Warns Apple
- IncubEx, Led by Industry Veteran Eckert, Buys UK Insurtech Platform Insurwave
- Claims Services Provider McLarens Forms Strategic Alliance With Polish Firm Saltex
- Investor Warburg Cuts Valuation of Ant Group by 15% to Below $200B: Source
- People Moves: Mosaic Launches London M&A Team, Hiring From Liberty Mutual, AIG; BHSI Promotes 2 in UK; Marsh’s Dubreuil to MGA Alta Signa in Brussels
- Guy Carpenter and Marsh to Combine South Africa Facultative Reinsurance Businesses
- Guyana Weighs Raising Requirements for Insurance Cover for Oil Spills: Official
- Uber UK Accused of Undermining Court Ruling on Worker Rights
- Generali in Preliminary Talks to Buy Credit Agricole Subsidiary La Medicale
- Australia’s Weather Bureau Declares La Niña for 2nd Consecutive Year
- Generali Investor De Agostini to Sell Stake, But Will Vote at AGM
- Apollo’s Syndicate 1971 to Open for Trading in 2022
- Climate Change Could Fuel Atmospheric Rivers, Which Caused Recent Canada Floods
- Fertilizer-Maker Yara to Debut World’s 1st Autonomous Electric Container Ship
- Wind Turbine Maker Vestas’ Shares Drop as Cyber Attack Risks Output Delays
- UK Competition Regulator Ends Probe Into Gallagher’s Planned Purchase of Willis Re
- People Moves: Hiscox Hires Starr’s Buchanan as Casualty Dir.; Sharpe, Griffiths to Inver Re’s Exec Team; Plumptre, Fox Join Blenheim Underwriting’s Political Risk Team
- Brit Completes $380M Loss Portfolio Transfer With Legacy Specialist RiverStone
- Swiss Re and China Tech Giant Baidu Partner to Advance Autonomous Driving Industry
- Australia’s Corporate Regulator Sues MLC Life for Causing Financial Harm of $13M
- Canada Insurer Definity Surges on Market Debut After $1.6B IPO Backed by Swiss Re
- Insurers Cut Their Appetite for Cyber Cover as Ransomware Losses Mount
- Russia Missile Test Creates New Belt of Space Junk, Escalating Threat to Satellites
- Willis Appoints 4 Directors, Including Former Lloyd’s CEO Beale, After Activist Pressure
- People Moves: SiriusPoint Appoints Bernina Re’s Kull as CRO; Hiscox Names Breeze Interim CFO; Tysers’ Simpson Leads BMS’ Terrorism, Political Violence Team
- China’s Ant Group Reports 39% Rise in Profits on Investment Gains
- Finance System Is Getting More Dangerous, Not Safer: Allianz CEO
- ‘Extraordinary’ Storms Cut Off Road, Rail Access to Vancouver
- India’s Paytm Tumbles in Market Debut, as Investors Question Lack of Profits
- Update: Zurich Insurance Will No Longer Underwrite New Oil Exploration Projects
- P/C Insurer Definity Raises $1.1B in Largest Canadian IPO of 2021
- Rise in Insurance Demand Likely to Break Premium Records in 2022: Swiss Re
- Allianz Becomes First Wholly Foreign-Owned Life Insurer in China
- South Africa Sued Over Plans to Construct New Coal-Fired Power Plants
- ‘Storm of Century’ Halts Traffic at Canada’s Biggest Port, Adding to Supply Chain Woes
- People Moves: Sompo Names QBE’s Reid Head of Casualty Int’l; AXA XL Promotes Shing to Lead U/W Mgmt, UK & Lloyd’s; Jensten’s Siggery to Oneglobal for Risk & Compliance
- Willis Towers Watson to Acquire Israeli Broker Leaderim
- India Shuts 5 Coal-Fired Power Plants to Combat Air Pollution in New Delhi
- SoftBank-Backed Fintech Raises $761M in India IPO. Now Comes the Hard Part.
- Working From Home Could Hurt Women’s Careers: Bank of England’s Mann
- Canadian Storms Force Shut-Down of Trans Mountain Oil Pipeline
- Swiss Re CEO Mumenthaler Appointed Chairman of Geneva Association
- People Moves: WTW Names Aon’s Wegbrans as Head of Broking; EmergIn Risk Hires Occam’s Paraskeva; Aon’s Norris to Gallagher Re as Cyber ILS Broker
- Shipowners Make Payments to Free Vessels Detained by Indonesian Navy: Sources
- Markel Corp. Puts Retrocessional ILS Fund Manager Into Run-Off
- People Moves: Allianz Global Corporate & Specialty Appoints 5 to Leadership Team
- U.S. Severe Weather Insured Losses Surpassed $20B After Rough October: Aon
- Aston Lark Continues Buying Spree With Purchase of UK Broker Philip Williams & Co.
- Big Europe Reinsurers See Strong 9M Earnings Despite High Natural Disaster Losses
- COP26 Climate Agreement Targets Fossil Fuels as Key Driver of Global Warming
- Insurers to Hike Private Market Investments; Environmental Focus Grows: BlackRock
- Berkshire Hathaway General Reinsurance Unit Launches Mideast Office in Dubai
- Paytm’s IPO Oversubscribed but Doesn’t See Blow-out Demand From Investors
- Aston Lark Acquires UK-Based Innovation Broking
- Draft COP26 Climate Deal Tries to Balance Demands of Developing and Richer Nations
- People Moves: Chubb Promotes Walker to Head of Aerospace; Fidelis Names Stewart, Davern as Co-Deputy CUOs, Bellamy as Head of Property Reinsurance
- KPMG Sued for $600M Over Role in Insolvency of Dubai Private Equity Firm Abraaj
- NFP Acquires Western Canada’s Foster Park Brokers Inc.
- Berkshire Hathaway Specialty Insurance Opens Third Office in Germany
- Hannover Re Sells Stake in HDI Global Specialty to Position Itself as Pure Reinsurer
- Chinese Insurer Ping An Plans to Sell $2.1B Stake in Autohome: Sources
- Shipping Firms in Crosshairs as Investors, Insurers Shun Coal
- Google Data Privacy Suit Dismissed After Top UK Court Rules Against Class Action
- Lloyd’s Broker MNK Re Launches Specialty Wholesale and Retail Unit
- ICEYE, McKenzie Intelligence Form Partnership Offering Enhanced Flood Hazard Analysis
- Insurtech Arbol Launches Bermuda MGU, Focusing on Parametric Reinsurance
- AXIS Insurance Enters North American Pet Insurance Market With MGU Petplan
- Asian Insurer FWD Group Weighs Shifting U.S. IPO to Hong Kong: Reuters
- Allianz Posts Better-Than-Expected Q3 Net Profit as It Emerges From COVID Pressures
- U.S. Court Rejects Israeli Firm’s Immunity From Facebook Suit Over Malware
- Xenia Acquires Financial and Specialty Business of London Broker Parker Norfolk
- Greenpeace Germany Sues Volkswagen, Demands Tougher Climate Measures
- Telehealth Firms See Post-COVID Mental Health Crisis as Priority
- Canadian P/C Insurer Definity Seeks to Raise $1 Billion in IPO
- Reinsurance Pricing Technology That Works During Hard and Soft Markets
- Why Reinsurance Prices Are Wrong—and How to Fix Them
- Chaucer, Parametric Insurtech Yokahu Offer Product to Cut Caribbean Protection Gap
- Compre Completes Acquisition of SiriusPoint’s Legacy Liability Portfolio
- People Moves: Acrisure Re Appoints Wicks From Ed Broking, Arnott From Securis ILS
- AXIS Enacts Policy to Ensure Diverse Supplier Networks for Its Operations
- Allianz, European Investment Bank Back €500M Public-Private Climate Fund
- AXA’s Investment Arm to Divest Oil and Gas Climate Laggards After Three Years
- Business Execs Optimistic COP26 Will Bring Changes Needed to Tackle Climate Change
- AIG Europe’s Chief Executive Expects Slowdown in Insurance Rate Rises
- People Moves: Markel CATCO’s Moore and Aon’s Boon Join Lockton Re; Fidelis Names Lancashire’s Russell as Head of Marine
- Vietnam Negotiates With Iran for Release of Seized Oil Tanker
- Japan’s Fukushima Farmers Fear Contaminated Water Release Will Hit Produce Prices
- UK Warns Facebook Executives to Keep Users Safe or Risk Criminal Charges
- COP26 Coal Pledge Falls Short on Support From Big User Countries as Emissions Surge
- Death Toll Rises to 23 From Collapse of High-Rise Building in Nigeria
- Canada Insurers, Banks Can Resume Dividend Hikes as Regulator Lifts COVID-Era Curbs
- Arch Rebrands Watford Re as Somers Re, as It Ushers in New Reinsurance Strategy
- EU Regulator Says Insurers Could Face Climate Stress Tests as Soon as 2023
- Insurtech Startup With Claims Monitoring Platform Raises $30M
- Howden Broking Launches New Zealand Operations
- Climate-Fueled Disasters Spur UN Plan to Fund Weather Forecasting in Vulnerable Nations
- Coal in Crosshairs as UN Climate Summit Brings Raft of Clean Energy Pledges
- Canada Employers Shed Unvaccinated Workers With Legal Challenges Expected
- Hong Kong Insurer FWD Adds Warnings About China Risks in SEC Filings for IPO
- Finnish Insurer Sampo Sees 30% Jump in Profit During Q3
- Willis Towers Watson Agrees to Acquire Remaining 51% Stake in WTW India
- Banks, Asset Managers, Representing 40% of World’s Assets, Vow to Meet Climate Goals
- Vantage Names AXA XL’s Blanco CEO of Insurance
- Lagos Building Collapse Kills at Least 10; Scores Reported Missing
- WTW’s Smith to Lead Chaucer’s Marine Specialty Division; NFP Names Beauchamp VP Commercial Lines; Insurtech BOXX Hires Steptoe as Global Chief Product Officer
- Norway Faces Hard Choices After Wind Turbines Ruled Threat to Reindeer Herder Rights
- Update: Leaders at COP26 Climate Conference Pledge to Cut Methane and Save Forests
- Berkshire Hathaway, Other Foreign Firms to See Payoffs From India’s Fintech Revolution
- Insurer Hiscox Sets Aside $150M for Hurricane Ida, European Flood Losses
- Russia Tech Giant Yandex Uses AI to Reward Safe Drivers With Insurance Discounts
- Ardonagh Group Closes on Acquisition of BGC Partners Insurance Units
- Aquiline Capital Partners to Acquire Majority Stake in UK Insurtech Ripe Thinking
- Aon Founder Ryan Retired at 71, Then He Built a New $10B Business
- UK Baker Greggs Files $137M Claim Against Zurich Over COVID-19 Payout
- AXA Tightens Policy for Insuring, Investing in Oil & Gas Ahead of COP26 Summit
- Generali Acquires Italy Insurer Cattolica to Boost Domestic Market Leadership
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