International & Reinsurance News for December 2021
- China Approves HSBC Acquisition of 100% of Insurer Joint Venture
- Trial Begins in January of Alleged Thieves of Dresden Jewelry, Worth $129M
- People Moves: Chubb Promotes 2 Senior Leaders in Canada
- Spain’s Volcanic Eruption Ends but Emergency Remains With Widespread Damage
- Top 10 International Insurance Journal Stories of 2021
- Run-Off Specialist Premia Acquires Navigators Holdings (Europe) from The Hartford
- SiriusPoint Invests in Canadian Digital Life Insurer PolicyMe
- Global COVID-19 Cases at Record High, as Omicron Variant Races Out of Control
- Apple Puts India iPhone Supplier, Foxconn, on Probation for Labor Violations
- Russian Nord Stream 2 Pipeline Faces Big Hurdles Amid Ukraine Tensions
- Found in Space: How Skytek Tracks Supply Chain Risks—and More
- Bird Flu Kills Thousands of Migratory Cranes in Israel; No Human Transmission Reported
- Global Shipping Industry Faces Growing Pressure to Cut Greenhouse Gas Emissions
- Brazil’s Dams Monitored for Risk of Bursting After Heavy Rains Kill at Least 18
- Sunken Ship’s Captain and 1st Officer Sentenced to 20 Months in Mauritian Prison
- Record Snowfall Disrupts Train, Air Travel in Western Japan
- Vienna Insurance Agrees to Share Ownership of Hungary Unit to Save Aegon Deal
- Australia’s Adani Coal Mine Nears 1st Shipment, Despite Climate Activists’ Campaign
- Canopius Completes Loss Portfolio Transfer Agreement With Legacy Acquirer Riverstone
- UK Broker Ardonagh to Acquire Portugal’s MDS Group
- Marsh Increases Shareholding in Marsh India from 49% to 92%
- Lloyd’s Asia Launches Renewable Energy Consortium
- This Year’s 10 Worst Climate Disasters Cost $170 Billion: Study
- Italian Judge Drops Case Against Unipol CEO Over Merger With Insurer Fondiaria
- Specialist D&O MGA Banyan Risk Expands Into Canadian Market
- Prosecutors Say Italian Supplier Produced 4,000 Flawed Parts for Boeing Over 5 Years
- People Moves: Definity’s Board Appoints Former Swiss Re Exec Schmid; SCOR Promotes Mumme-Young for Political & Credit Risk; Cathay Pacific’s Howell to Marsh Aviation
- Willis Towers Watson Launches Risk and Analytics Model for Trade Credit Insurance
- As Strongest Storm to Hit Philippines in 2021, Typhoon Rai ‘Exceeded All Predictions’
- Insurers Sanlam and Allianz Explore Options for Their African Businesses
- Nephila Capital’s New Syndicate 2358 Funded by Lloyd’s-Sponsored Investment Vehicle
- French Mining Group Eramet Identifies Potential $50.8M Financial Fraud
- COVID-19 to Cut UK Life Expectancy by 9 Months: RBC Analysts
- UK Businesses Brace for Great British Resignation in 2022
- Global M&A Activity Shatters Records, Topping $5 Trillion in 2021
- FWD Group Withdraws U.S. IPO Plan, Pivoting Instead to Hong Kong
- Record Rainfall, Floods Across Globe Generate Billions in Economic Damages: Aon
- Pro MGA Solutions Provides MGA Incubator Platform for Tierra Underwriting Ltd.
- Everest Re Extends President and CEO Andrade’s Employment Agreement
- Typhoon Rai Leaves Trail of Destruction in Southeast Asia, Killing More Than 200
- Insurer Storebrand to Buy Norwegian Pensions Unit From Danske Bank for $221M
- Argo Announces Sale of ArgoGlobal SE as Group Focuses on U.S. Specialty Insurance
- AM Best Upgrades Ratings of Canada’s Co-operators General and Sovereign General
- EXOR, Again, Agrees to Sell PartnerRe to France’s Covéa for $9 Billion (€7.8 Billion)
- People Moves: Aon Recruits WTW’s James as Chief Broking Officer, Commercial Risk UK; Allianz’ Strong to WTW as Head of Environmental; AGCS Promotes Yee for TMT
- Google Faces Heavy Fines in Russia After Court Rules in Favor of Putin Ally
- Bayer Faces Billion-Dollar Class Action Suit in Germany Over Monsanto Takeover
- Canada’s Desjardins Group Reaches Settlement Over Massive Data Breach in 2019
- Swiss Re Reorganizes Group Operations, Names Ladva Group CTO, as Bronder Exits
- Millions of Migrants Can’t Get COVID Vaccines Because of Drugmakers’ Liability Fears
- Zurich Insurance to Acquire Conversational AI Company AlphaChat
- Fairfax Completes Sale of Stake in Subsidiary Odyssey Group for US$900M
- Spanish City of Zaragoza Braces for Flooding From Ebro River
- Artful Mosaic Insurance Creates Global Agility for Specialty Startup
- London Turns Into Ghost Town as UK Faces Record-Breaking Wave of COVID Infections
- Typhoon Rai Threatens Philippines, Forcing Thousands to Flee Homes
- People Moves: AGCS Promotes Williams to CUO Corporate, Succeeding Buckle; Aon Names Irl to U.S. Reinsurance Treaty Team; AXIS’ Gorman to Arrow Risk Mgmt
- UK Broker Ardonagh Valued at $7.5B as Abu Dhabi Investment Authority Buys Stake
- KKR Nears Deal to Buy Stake in India’s Shriram General Insurance Ahead of IPO
- Arctic Region Broke Heat Record in 2020, U.N. Agency Confirms
- Leading Marine Re/Insurers Join Push to Decarbonize Global Shipping
- Update: Generali’s CEO Bets on Buyback, Dividend Hike, Bold Profit Goals to Keep Job
- People Moves: WTW’s Swift Joins London Market Group Board; Carbon Underwriting Hires Antares’ Coates; Dale Underwriting Names ArgoGlobal’s Turner for Property
- Extreme Weather in 2021 Brings Above-Average Claims to Global Insurers: Swiss Re
- Brit Pilots 1st Continuous Binder for Delegated Authorities, to Replace Annual Renewals
- Specialist Risk Group Launches MGA Called MX Underwriting
- Canada’s StoneRidge Insurance Brokers Acquires John Stark & Co.
- Swiss Re-Backed FWD Raises $1.4 Billion, Weighs Hong Kong IPO
- Insurance Losses for October Storms in Southern Australia Estimated at A$1.03B
- Extreme Winds in Ontario Knock Down Trees, Power Lines, Cutting Electricity for 80,000
- China’s Alibaba Fires Woman Who Accused Boss of Sexual Assault in #MeToo Setback
- From Wildfires to Floods, Climate Change Worsens Extreme Weather Across Globe
- Generali to Focus on U.S., Asia in New Strategic Growth Plan: Report
- Insurer Mapfre to Make $983.8M Pay-out for Construction Issues With Colombia Dam
- British Insurer LV= Rejects Bain Takeover Bid; Royal London Wants to Talk
- People Moves: Markel’s Hastings Named President of W. R. Berkley Syndicate Mgmt; Chaucer Promotes Sharp to Head of Political Violence & Crisis Mgmt
- M&A Insurance Rates Nearly Double After Explosion of Dealmaking During Pandemic
- Generali Joins Forces With Accenture and Vodafone to Provide Cyber Insurance Services
- Swiss Re to Sell elipsLife to Swiss Life, Enters Long-Term Reinsurance Partnership
- People Moves: WTW Promotes Rourke to UK Head of P/C Pricing, Product, Claims and Underwriting; Tysers Hires Lockton’s Appleford, Lonmar’s Jenkins
- Google Sues Russians for Alleged ‘Borderless’ Organized Cyber Crime Operation
- Rising Reinsurance Prices and Demand Help to Create Stable Sector Outlook: AM Best
- European Gig Workers Hail ‘Landmark’ Directive to Make Them Employees
- Canada’s CPP Investments to Sell Ascot Group, Wilton Re in Strategy U-turn: Sources
- These Workers Stand to Gain From Current UK Pay Surges. Time to Ask for Pay Raise?
- Allianz to Raise Dividends by 5% Each Year From 2021
- WTW Hires AIG’s Dasan for Construction, Natural Resources; Bogardus Named Chubb’s President for Singapore; AXA XL’s Muzeya Joins Mosaic as Financial Institutions U/W
- Argenta Syndicate Management to Withdraw from Lloyd’s China Platform
- Filhet-Allard Maritime Buys Majority Stake in Marine Specialist Latitude Brokers
- Life Soon Will Get a Lot Harder for Companies That Fail ESG Tests: Top Stock Owner
- Renault’s Zoe Electric Model Gets Zero-Star Safety Rating From Europe Safety Agency
- Malaysia’s Malene Insurance Brokers Renamed Howden Takaful Brokers
- BE Group Takes Fresh Look at Buying $10 Billion Insurer Ageas
- People Moves: Norgrove to Succeed Egan as RSA CEO, UK & International; Marsh Promotes 3 Senior Leaders for Financial and Professional Specialty
- Verisk’s Sequel Launches Hub to Simplify Product Distribution, Delegated Authority Biz
- Property Catastrophe Reinsurance Renewal Rates to Rise by More Than 10%: Fitch
- AGCS, Insurtech Visicover Launch Marine Insurance Service for UK Leisure Vessel Owners
- Ransomware Operators Expected to Become More Aggressive: Canada Spy Agency
- Ireland Braces for ‘Weather Bomb’ With Violent Winds and Rain From Storm Barra
- Hong Kong’s AIA Group Sells Nearly $10 Billion of Coal Investments
- Willis Towers Watson Acquires Sydney-Based Aviation Broker Aerosure
- People Moves: Bowring Marsh Promotes Mayhew to CEO, UK & Ireland; Miller Bolsters Renewables Offering With 2 Hires From Willis
- Italian Tycoons’ Challenge to Generali Hinges on Its Strategy for Asset Management
- Arthur J. Gallagher Completes Minority Investment in MENA Specialist Broker ACE
- UK Broker Aston Lark Acquires Client Book of Choice Benefits
- Sedgwick Acquires Belgian Engineering Consultancy ABESIM B.V.
- Greensill’s Business Model Risks ‘High Level of Harm’; New Rules Needed: UK Watchdog
- MCI Lloyd’s Syndicate 1902 Offers ‘Ground-Breaking’ Infectious Disease Liability Cover
- Severe Australia Floods to Worsen, Raising Costs to Farmers
- Hundreds of Thousands of Farm Animals Perish in Canada Floods
- Insured Price Tag for Europe Windstorm Hendrik-Ignatz (Aurore) Estimated at €311M
- People Moves: Hartford’s Pasterfield Named CEO of MS Amlin Business Services; Former Morrison Chair Higginson to Lead Ardonagh Retail Unit in UK
- Chubb and Chile Insurtech Betterfly Form Partnership for LatAm Offering
- Convex Europe Receives UK Regulatory Approval
- Willis Towers Watson Launches Industry Risk Forum for Ports and Terminals
- European Insurers Wary of Rising Threat of Sanctions Against Nord Stream 2 Pipeline
- Howden Acquires UK Specialist Broker Ross Insurance Group
- Arthur J. Gallagher & Co. Buys Australia’s Sound Insurance Services
- Finland Battles Malware Attack Spread by Text Messages
- People Moves: WTW Names Marsh’s Monaghan GB Transportation Leader; Sethu Leads Sustainability & ESG at MS Amlin; Howden’s Levett Is Head of Mkt. Mgmt. at Miller
- Xenia Buys UK Trade Credit and Surety Broker, Peter Hill Credit & Financial Risks
- Western Canada Braces for Another Deluge From ‘Atmospheric River’
- Howden Acquires Specialist Broker Expat Marine in Hong Kong
- Gallagher Completes $3.25B Purchase of Willis’ Treaty Reinsurance Brokerage Business
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