International & Reinsurance News for June 2020
- Aon Reverses Salary Cuts Implemented in May for Most Employees
- Australia to Spend Nearly $1 Billion on Cyber Security During Next Decade
- Potential New ‘Pandemic Virus’ Has Been Found in Chinese Pigs, Warns Study
- Car Crashes Became Deadlier During Lockdowns Across Globe: Reuters Insight
- Mining Groups Should Be Required to Buy Insurance for Tailings Dams: Report
- UBS Settles Lawsuit with Former Trainee Who Alleged Rape by Senior Employee
- Bank of England Tells Insurers, Banks to Continue Analyses of Impact of Climate Risk
- Report Highlights Need for Better Risk Management on Europe’s Container Ship Routes
- Chile’s Environment Regulator Files Charges Against Codelco for Mining Waste Pollution
- RKH Specialty Appoints 14 New Aviation Experts in London and Colombia
- Canada’s Supreme Court Allows Class Action Seeking Employee Status for Uber Drivers
- Italy’s Generali Moves to Become Cattolica Major Shareholder, Strategic Partner
- Cybersecurity Firm Exposes Chinese Tax Software’s Malware That Endangers Networks
- Lenders With the Best Climate Data Will Be in a Position to Discriminate: Viewpoint
- Canadian Privacy Panel Finds LifeLab’s Data Breach Was One of Biggest
- SoftBank May Sue Wirecard Accountant EY; EU Probes Germany’s Regulator
- Chilean Union Workers Want Probe Into Coronavirus Deaths at Codelco Copper Mine
- Tolley to Lead Marsh’s New Sport, Entertainment & Media Group in UK, Ireland
- Global Mining Standard Omits Ban on Upstream Dams Sought by Civil Groups
- Howden Broking Group Expands to Belgian Market; Kerremans Named CEO of Unit
- Ireland, Luxembourg Lag in Support for Policing EU Data Privacy Compliance
- Bayer Gambles on Science to Let It Keep Selling Roundup, Mitigate Future Claims
- ‘The Money’s Gone’: Wirecard Collapses Owing $4 Billion
- COVID-19 Could Rank Among Re/Insurance Sector’s Most Expensive Events: Carpenter
- Investment Manager Nephila Capital to Launch Lloyd’s Syndicate with ILS Specialty
- U.S. Economic Losses from Severe Weather During May Topped $4 Billion: Aon
- More Than 10,000 People Join Lawsuit Against EasyJet for Massive Data Breach
- Global Institutional Investors, Including Insurers, Urge Brazil to Control Deforestation
- UK, EU Likely to Miss Deadline for Accessing Financial Services After Brexit: Sources
- Tropical Storm Dolly Becomes 4th Named Storm with Early Start to Hurricane Season
- Business Cyber Losses Soar but Firms Fight Back with Extra Security Spending: Study
- UK Insurance Broker Ardonagh Group Secures $2 Billion Loan for Acquisitions
- Bullying and Harassment Increase for Some Workers in Pandemic Lockdown: Opinion
- Parametric Catastrophe Facility CCRIF Pays US$3.6M to Guatemala for Excess Rainfall
- Former CEO of Wirecard Arrested in Accounting Scandal Involving Missing $2.1 Billion
- Fidelis, Aon and Marsh Develop Marine Cargo Clause Aiming to Combat Modern Slavery
- Winners Announced for 5th Annual Efma-Accenture Innovation in Insurance Awards
- Beazley Launches Contingency Policy Covering Virtual Event Organizers
- China Says Food Unlikely to Be Cause of New Virus Outbreak, but Blocks Tyson Imports
- Brokerslink Network Continues African Expansion with Tunisian Broker
- UK Insurer Saga Refunds £44M to Customers on COVID-19 Travel Interruptions
- Fidelis Issues $300M of Senior Notes, Bringing 2020 Capital Raise to More Than $1B
- China Finds Coronavirus Contamination in Seafood and Meat in Beijing Food Market
- Swiss Re’s Chief Underwriting Officer Schmid Is Stepping Down, Succeeded by Léger
- Some Facts About London’s Role in Insuring the Slave Trade
- State-Based Hackers Target Australia Government, Critical Infrastructure: Prime Minister
- Emerging Mkt Infrastructure Projects to Bring Premiums of $50B in Next Decade: Sigma
- Munich Re Syndicate Taps McAdams from AXA XL as Head of Marine
- Markel International Exits Personal Accident, Contingency Insurance on COVID-19 Impact
- S&P’s Outlook for AGCS Revised to Negative on ‘Weak Underwriting Performance’
- Update: Lloyd’s of London Apologizes for Its ‘Shameful’ Role in Atlantic Slave Trade
- Lloyd’s Insurers Get Ready to Re-Open in September After Coronavirus Lockdown
- Sailors Stranded by COVID Restrictions Could Refuse to Work, Causing Trade Disruption
- New Marine Cyber Specialist Astaara Gets Investment from West of England P&I Club
- AXA XL Taps Clarke from WTW, Generali’s Warke for UK Broker Management Team
- When UK Firms Transfer Pension Obligations to Insurers, They See Share Boost: Report
- Russia Aims to Complete Nord Stream Gas Pipeline, Despite U.S. Objections
- China Pacific Insurance Co.’s Shares Rise on $1.8 Billion London Market Debut
- UK Insurers Cite Swedish Example in Bid to Dodge Coronavirus Biz Income Payouts
- Moody’s Assigns First-Time A3 Rating to Fosun-Backed Peak Re
- No-Deal Brexit Would Deepen Economic Pain for UK’s Coronavirus-Hit Companies
- Allianz Global Corporate & Specialty Launches ‘Cyber Protect’ Product for UK Market
- CEO Watsa Buys US$149M of ‘Ridiculously Cheap’ Fairfax Shares
- Charles Taylor Taps Former AXA Executive Brown as Group CEO
- Swiss Re-Backed Nigerian Life Insurer Sees Sales Surge as Pandemic Starts Taking Hold
- Hiscox Action Group Launches £40M Arbitration Claim for COVID Biz Interruption Dispute
- AM Best Reviews Credit Ratings of Enstar’s StarStone After Announced Capital Raise
- Marsh JLT Specialty Expands Renewable Energy Team with Appointments in Canada, UK
- Cryptocurrency Firm Quadriga Collapsed Due to Late Founder’s Ponzi Scheme: Regulator
- UK Insurer Admiral Weighs Sale of Price Comparison Platform
- UK Insurer LV= Attracts Bidders Including Phoenix, Cinven: Sources
- McLarens Acquires Energy Claims Specialist LWI in London
- South Africa Regulator Probes Insurance Contracts Over Unpaid COVID-19 BI Claims
- Edge Computing, Supply Chains, Deepfakes Among 2020’s Top Emerging Risks: Swiss Re
- Aspen Insurance Reconfigures Management Team with 2 New CEOs, Non-Exec Director
- Searchlight Capital Partners Completes Acquisition of UK Broker Global Risk Partners
- Insurers Distance Themselves from Disputed Australia Coal Project as Backlash Grows
- New Insurer Astaara Focuses on Protecting Maritime Industry from Cyber Risks
- Climate Change Is Expected to Trigger Extreme Waves and Coastal Erosion
- Insurtech Zego Partners with Telematics Firm ABAX to Lower Fleet Insurance Costs
- Unprecedented Arctic Diesel Spill Angers Putin and Could Force Green Reform in Russia
- Generali Weighs Strategic Options for Swiss Insurance Business
- HSB Launches Online Broker E-Trading Platform in Ireland
- Major Fuel Spill in Russian Arctic Moves Closer to Arctic Ocean: Regional Official
- Cryptoasset Insurer Evertas Receives License to Operate in Bermuda
- Lloyd’s Insurer Lancashire Holdings Raises US$352M to Target Hard Market Opportunities
- Fidelis Insurance Raises $500 Million of Equity Capital for Growth in Hardening Market
- Global Insurers Pulled into Epicenter of COVID-19 Crisis, Firmly in Uncharted Territory
- Captives Can Be an Insurtech Accelerator
- Zurich Insurance Forms New Legal Panel for Large and Complex Claims in EMEA
- Lloyd’s Launches Application Program Interface (API) to Enhance Electronic Placements
- HDI Global Specialty Launches London Political & Credit Risk Team with Hires from Neon
- It’s Business as Usual for Genworth After Canadian Rule Change for Mortgage Insurance
- Germany’s Rhine River at Dangerously Low Levels, Which Could Disrupt Shipping
- Arthur J. Gallagher & Co. Acquires Australia’s CA Insurance Brokers
- Shipbuilder Fincantieri’s Norwegian Unit Hit with Ransomware Attack
- Coronavirus Lockdowns Substantially Slowed the Pandemic, Research Says
- BHSI Launches Environmental Impairment Liability Insurance in France
- Risk Professionals Reassess Top Risks During Post-COVID Era
- Global Re Forum Taps PartnerRe’s Clarke as Chair, Hannover Re’s Henchoz as Vice Chair
- Reports of the Death of the Office Are Greatly Exaggerated: Opinion
- Munich Re’s ERGO to Take 24.9% Stake in Chinese P/C Insurer
- Lloyd’s Creates Single Body for Governance to Improve Speed, Efficiency of Decisions
- Arch Insurance International Appoints Leadership Team for Syndicate 1955
- German Insurer Allianz Seeks Asset Management License from China Regulators
- Argo Group to Pay $900,000 to SEC for Failing to Fully Disclose CEO Perks
- AM Best Upgrades Credit Ratings of Fidelis Insurance Holdings and Its Subsidiaries
- Massive Fuel Spill in Siberia Blamed on Melting Permafrost – or Climate Change
- UK Government Forms £10 Billion Reinsurance Backstop for Trade Credit Insurers
- Cyclone Nisarga Lashes India’s Business Capital, Forcing Evacuation of 100,000
- Nigeria’s Regulator Gives Insurers Additional Year to Recapitalize on COVID-19 Impact
- UK Employee Union Urges Insurers, Banks to Protect Call Center Staff During Pandemic
- AXA Identifies 1,700 Restaurant Contracts with Unclear Terms on Pandemic Payouts
- UK’s Direct Insurance Group Commits to Permanent Homeworking for Its Workforce
- UK Brokers Rely on Face-to-Face Meetings, Hampering Client Support During Lockdown
- Billionaire Del Vecchio Doesn’t Seek Merger Between Generali and AXA or Zurich: Source
- No-Deal Brexit Could Hobble UK’s Recovery from Coronavirus Pandemic
- French Insurer AXA Plans to Cut Dividend by 50% on COVID-19 Impact
- Grounded Airplanes at Risk from Asia’s Tropical Storm Season, Industry Experts Warn
- Carlyle, T&D Holdings Complete Acquisition of 76% Interest in Fortitude Group From AIG
- IGI Launches Marine Trades Insurance Product in UK
- 1st Tropical Storm of Eastern Pacific Hurricane Season Floods Part of Central America
- Cyclone Nisarga to Disrupt India’s Mumbai Financial Hub
- Lloyd’s Canada Appoints Former AIG Executive Lipman as President
- Skuld to Sell Lloyd’s Syndicate 1897 to Legacy Specialist RiverStone
- Panama Threatens Sanctions, Hefty Fines on Ships That Tamper with Transponders
- Pandemic Reinsurance Solution Gains Wide Support from UK Re/Insurance Industry
- Italy’s Regulator Asks Insurer Cattolica to Boost Its Capital by $557M on COVID-19 Impact
- Billionaire Del Vecchio Seeks to Raise Stake in Generali’s Biggest Investor, Mediobanca
- K2 Insurance Services Launches International Re/insurance Platform in London
- UK Broker SSL Endeavour Rebrands as Oneglobal Broking
- Pandemic-Hit Re/insurers Expect a Costly Hurricane Season – and Rates Are Rising
- British Regulator Enlists 8 Insurers in Pandemic Test Case of Business Interruption Cover
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