International & Reinsurance News for May 2020
- Price Forbes’ Gilmore Appointed Chairman of Worldwide Broker Network
- S&P Affirms Munich Re’s ‘AA-‘ Ratings, Reflecting Sufficient Capital for COVID-19 Crisis
- Insurance Survey Asks: How Is Pandemic Affecting Your Life, Your Work, Your Industry?
- K2 Insurance Services Completes Purchase of MGA Pioneer Underwriters
- Virus from Africa Kills Horses in Thailand, Showing Dangers of Biosecurity Gaps
- Israel Thwarts Major Cyber Attack Against Its Water Systems
- Google Urges EU to Use Current Laws, Not New Ones, to Regulate Artificial Intelligence
- Crashed Pakistan Plane First Tried to Land Without Landing Gear at 203 Miles Per Hour
- Australia’s 4 Summer Natural Disasters Cost Insurers More Than US$3.44 Billion
- German Court Backs Damages Claims Against VW, Providing Clarity for 60,000 Cases
- Insurtech Trov Partners with LatAm Insurer Sura to Bring On-Demand Insurance to Brazil
- Could Hong Kong’s Role as Global Financial Hub Be Jeopardized by China Security Law?
- Brit Enters High Net Worth Market with Launch of Private Client Offering
- Allianz and Generali Plan to Sell Life Insurance Assets: Sources
- PartnerRe Taps Meyenhofer as CEO Specialty Lines, Haft as CEO Global Cat
- Reinsurers Will Fail to Earn Cost of Capital in 2020, Leading to More Rate Hikes: Fitch
- Coronavirus Cluster Found in Crew of Freight Cargo Ship in Australia
- Airbus Opens Investigation into Plane Crash that Killed 97 in Pakistan
- Ship Inspectors Conduct Virtual Inspections of Oil Tankers During Pandemic
- Severe Storm Batters Coast of West Australia
- Swiss Re Corporate Solutions Names Hunziker as APAC Head Property & Specialty
- SCOR CEO Takes 30% Bonus Cut; 2019 Dividend Scrapped on COVID-19 Crisis
- EU Urged to Create Insurance Catastrophe Backstop for Pandemics, Huge Cyber Attacks
- Willis Towers Watson Launches Customized Cyber Insurance for Shipowners
- Canopius Appoints AXA XL’s Elliott as APAC Casualty Underwriter
- Update: AXA to Pay Business Interruption Claims to Restaurants After Court Ruling
- BHSI Expands Defense Base Act Coverage into Dubai
- French Court Orders AXA to Pay Restaurant’s COVID-19 Business Interruption Losses; AXA Vows to Appeal
- Coalition Launches Cyber Insurance and Security Coverage in Canada
- AIR Worldwide Estimates Global COVID-19 Deaths Could Reach 644,000 During June
- Australia Clamps Down on Litigation Funders Following Surge in Class Action Lawsuits
- Update: Airbus A320 Jet Crashes in Pakistan with 99 People on Board
- Brazil Reinsurer IRB Eyes Purchase of Foreign Competitors’ Portfolios: Sources
- Update: Generali 1st Quarter Net Profit Plunges 84.8% on COVID-19 Investment Hit
- When UK Insurers, Banks Emerge from Lockdown, Their Employees Face New Normal
- Update: Cyclone Amphan Floods Areas of India and Bangladesh, Killing Dozens of People
- UK’s Aviva Expects COVID-19-Related Claims of Nearly $200 Million
- Activist Shareholder Urges Watford Holdings to Sell Itself, or Be Put Into Runoff
- BMS Names Former Everest CEO Addesso as Non-Exec Chair of U.S. Reinsurance Arm
- Allianz Group Appoints Richter to Lead Cyber Center of Competence
- Generali Digitizes Art Insurance, Offering Collectors Remote Evaluation of Artworks
- Brexit Talks Become Acrimonious as UK Slams EU’s ‘Unworthy’ Trade Offer
- For Third Point Re, COVID-19 Crisis Hurts, but It Celebrates 1st Underwriting Profit
- Chinese Hackers Blamed for Accessing Records of 9 Million easyJet Customers
- Insurer Beazley Raises $300M to Strengthen Balance Sheet on COVID-19 Uncertainties
- Risk Managers Expect Prolonged Recession From COVID-19: World Economic Forum
- Sony to Take Full Control of Its Financial Unit for $3.7B, Aiming for Fintech Growth
- India, Bangladesh Prepare for Biggest Cyclone in 20 Years with Evacuation of Thousands
- Amazon’s French Warehouses to Reopen After Ending Virus Safety Dispute with Workers
- Cyclone Amphan Intensifies, Threatening India, Bangladesh with Dangerous Storm Surge
- AM Best’s Stress Testing Indicates Most Insurers Can Withstand Pandemic Hit
- China Urges Local Firms to List in London with China Pacific Insurance Leading the Pack
- Ed Broking Launches E-Trading Platform Called ‘TradEd’ in Bermuda
- BMS Signs Long-Term Partnership Agreement with Chilean Broker Insurex Re
- Coronavirus Blocks Farm Laborers from Working in UK – in Possible Foretaste of Brexit
- Europe Faces Sweltering Summer with Below-Average Rainfall: Scientists
- Italy to Protect Businesses from Liability if Workers Catch Coronavirus: News Report
- Cyber Underwriting Firm Envelop Risk Raises $6 Million in Funding
- AXA’s Wattez-Richard Receives 1st Geneva Association Women-in-Insurance Award
- UK Regulator Announces Pandemic Relief Measures for Insurance Customers
- U.S. Issues Maritime Advisory on Sanctions for Ship Owners, Insurers
- Typhoon Vongfong Tests Philippines’ Ability to Protect Evacuees from Coronavirus
- Generali and Insurtech Descartes Underwriting to Develop Parametric Insurance Cover
- AXA Unit to Offer Medical Consultations to Guests of French Hotel Group Accor
- Zurich Insurance Estimates Coronavirus Pandemic Claims to Hit $750 Million for 2020
- Lloyd’s Insurer Antares Names Campbell as Head of Specialty, Succeeding Taylor
- Insurtech Zego Expands Partnership with RSA to Provide Cover for UK Van Fleets
- Exor Plays Hardball with French Insurer Covéa as PartnerRe Deal Collapses: Opinion
- Typhoon Vongfong Hits the Philippines with Evacuations Expected
- Lloyd’s Expects US$4.3B in COVID-19 Claims – On Par with Costs of 9/11 Terror Attacks
- Hub Acquires Quebec’s Vestas Financial Services
- Coronavirus Health Effects Could Last for Years for Some Survivors
- UK Insurer Brit and Google Collaborate to Launch 1st Fully Digital Lloyd’s Syndicate
- UK Government to Create Temporary Reinsurance Backstop for Trade Credit Insurance
- Everest Insurance Taps Patel from AIG Europe as UK Head of Transactional Risk
- Insurers Zurich and Chubb Raise Cover for Canada Oil Sands Pipeline: Filings
- French Mutual Covéa Scraps $9 Billion Purchase of PartnerRe from Exor
- Insurers Must Re-Think Pandemic Response or Risk Reputational Damage: UK’s Airmic
- UK Financial Services Firms Weigh Options for Post-Coronavirus Work Arrangements
- Commercial Insurance Rates in Q1 Rise 14%, Even Before Impact of COVID-19: Marsh
- Guy Carpenter Launches Probabilistic Philippines Flood Model
- EC3 Brokers Launches Casualty and Cyber Specialty Division
- Zurich Insurance’s Former CEO and Chairman Gerber Dies
- Allianz Posts 29% Drop in Q1 Net Profit as COVID-19 Crisis Slows Business
- For Global Insurers, Pandemic Likely to Erase Profits Until 2021 Second Half: Fitch
- National Governments Must Help Provide Insurance for Future Lockdowns: EU Regulator
- India Releases Safety Guidelines on Restarting Factories After LG Chem Gas Leak
- CyberCube Launches Cyber Analytics Product for Broker Market
- Tokio Marine Uses Tractable’s Artificial Intelligence Solution for Auto Claims in Japan
- Coronvirus Discrimination and Bullying Hinders Battle Against Pandemic in Japan
- AXA Ventures Leads $5M Investment in Cyber-Security Startup Hub Security
- Q1 Insurtech Fundraising Drops 54% on COVID-19 Disruption: Willis Towers Watson
- Brand and Waterman Appointed to New Roles in Zurich’s Commercial Insurance Team
- April’s Killer Tornadoes Cost Insurers Billions in Claims: Aon Report
- UK Regulator Seeks Court Review in July to Resolve COVID-19 Insurance Dispute
- Complex Financial Products Aren’t the Solution to Climate Change or Pandemic: Opinion
- DUAL Acquires Specialty Managing General Agency in New Zealand
- Forced Payouts of Pandemic Claims Risk Insurers’ Financial Stability: Regulators
- Munich Re Expects Coronavirus-Related Claims in Excess of $1 Billion During 2020
- FERMA Forms Task Force to Find Solution for Non-Damage BI Cover – Such as Pandemic
- Zurich Canada Appoints Snider as Head of Risk Services
- Gas Leak at LG Chem Plant in India Kills at Least 7, Forcing Evacuation of Thousands
- High-Rise Building Catches Fire in United Arab Emirates
- Hiscox Raises £375M to Respond to U.S. Wholesale, Reinsurance Growth Opportunities
- AXIS Gets AM Best Ratings Downgrade on ‘Deterioration’ of Operating Performance
- Willis Research Network Partners with ‘Cloud to Street’ to Raise Flood Resilience
- Explosion at Anglo American Coal Mine in Australia Injures 5, Halts Production
- SAP Admits to Security Lapses in Some Products, but Says There Was No Data Breach
- MGA Platform OneAdvent Buys Property MGA Modus from CFC Underwriting
- Global Temperatures in April Matched Warmest on Record: European Climate Group
- Two Law Firms Seek British Businesses to Join Biz Interruption Lawsuit Against Allianz
- Hiscox to Raise Capital in Response to COVID-19 Growth Opportunities and Exposures
- Many Japan Firms Resist Telecommuting, Raising COVID-19 Risk for Call Center Staff
- German Judge Casts Doubt on VW’s Defense in Landmark Diesel-Damages Case
- RMS Releases High Definition Models for European Severe Convective Storm
- Crane Named CEO of Specialist Re/insurance Broker THB Group
- North P&I Enters Blue-Water Hull, Machinery Market
- AM Best Places Watford Re’s Ratings Under Review on COVID-19-Related Investment Hit
- AIG Launches Largest-Ever Syndicate at Lloyd’s, Operating in High Net Worth Sector
- AI Specialist omni:us Partners with Insurtech Rokk3r to Enter Latin American Market
- Tokio Marine Kiln Taps Chubb’s Shaw as Chief Underwriting Officer
- Zoom Video Login Details Put on Sale by Hackers on Dark Web: Times Report
- HSBC’s Life Insurance Unit to Buy Out Joint Venture Partner in China
- Gallagher Releases Pandemic Group Insurance Product for India’s Front-Line Workforce
- In Volatile Times, Willis Towers Watson Deal ‘More Important Than Ever:’ Aon CEO Case
- UK Regulator Wants Courts to Clarify Wording of Disputed Business Interruption Policies
- Willis Towers Watson Withdraws 2020 Target on COVID-19 Crisis; Q1 Revenues Up 7%
- Carbon Underwriting to Launch Syndicate-in-a-Box at Lloyd’s
- Non-Life Insurance Claims from Pandemic to Surpass 9/11 Claims: Willis Towers Watson
- Brexit Trade Talks Back on Agenda After COVID-19 Hiatus, Facing Tight Timetable
- Allianz Withdraws 2020 Profit Target on Pandemic Uncertainties
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