International & Reinsurance News for February 2018
- Australia Orders Recall of 2.3M Vehicles with Takata Air Bags
- Earthquake in Papua New Guinea Causes ‘Massive Destruction’; Death Toll Rises
- Bees Endangered by Neonicotinoid Pesticides: EU Food Safety Regulator
- Commercial Insurance Prices Rise in Q4 2017, Reversing 4½ Years of Rate Cuts: Marsh
- Europe’s Storm Friederike (aka David) to Cost Insurers €1.5B (US$1.8B): PERILS
- Update: UK Prime Minister Rejects EU Draft Brexit Deal as Unacceptable
- Why Financial Tech Startups Need Incumbents to Succeed
- Avoiding Post-Brexit Chaos in Insurance Market Is Top Concern of Bank of England
- Allianz Investment Unit Provides Funding for Fintech Startup C2FO
- XL Catlin Launches Protect & Assist in Australia
- PERILS Releases Final Loss Estimate of €248M for Cyclone Thomas/Doris
- Papua New Guinea Quake Kills at Least 14; ExxonMobil Shuts $19B LNG Plant
- Bank of England Will Not ‘Go Soft’ on Enforcing EU Solvency II Capital Rules
- BMW to Recall 11,700 Cars to Fix Engine Management Software
- Quake in Papua New Guinea Leads Exxon to Shut Production, Processing
- UK Invests in Natural Disaster Hedge Fund Focused on Insurance for Developing Nations
- Europe Regulator Proposes Hacking, Geo-Awareness Protections for Drones
- Global Directors Beware: Are You Ready for EU’s Data Protection Regulation?
- Zurich Acquires QBE’s Latin American Operations for US$409M
- Cyber Attacks Pose Greatest Threat to UK Businesses, Investors: PwC Survey
- China’s Anbang ‘Committed’ to Overseas Units After Government Takeover
- CEO Says Swiss Re Open to Anchor Shareholder Following Softbank Inquiry
- Q&A on China’s Takeover of Giant Anbang Insurance
- China Seizes Control of Anbang; Acquisitive Chairman Faces Fraud Prosecution
- XL Catlin Names Thyme as Director of Emerging Markets Development
- UK’s RSA Insurance Posts Above-Forecast Profit of $920.2M in 2017
- UK Marine Insurer Steamship Mutual Chooses Netherlands for Post-Brexit HQ
- After Poor Results, Greenlight Re ‘Repositioning,’ Entering New Classes of Business
- AXA Posts Higher-Than-Expected $7.6B Profit, Ahead of U.S. IPO
- AXA to Sell Non-Life Operations in Azerbaijan
- SMEs Underestimate Cyber Risks Which Could Prove ‘Fatal’: Allianz Report
- India Cyber Bank Heist Used ‘Similar’ Methods to $81M Bangladesh Bank Hack
- Hamilton at Lloyd’s Reorganizes Underwriting Team
- Lloyd’s Market Association Launches Claims Development Training Tool
- AXIS’ A.M. Best Ratings Revised to Negative; Insurance Arm Blamed
- Israeli Firm Among Those Seeing Profit in Telematics Data
- India’s City Union Bank Hit by Cyber Heist via SWIFT Payments System
- Aspen Ceases Underwriting Property Insurance from Bermuda Platform
- XL Catlin Names Carpenter’s Xue as CEO/General Manager of XL Insurance (China)
- Zurich, Insurtech Startup CoverWallet Offer End-to-End Insurance for SMEs in Spain
- Europe’s Windstorm Burglind (aka Eleanor) Estimated to Cost $802.5M: PERILS
- London Unveils New Rules for Uber’s Drivers, Cars; Fleet Insurance Also Eyed
- Cyber Risk Management Fails to Measure Up to Escalating Cyber Risks: Marsh, Microsoft
- Allianz Reports 22% Drop in Q4 Profit but Still Plans Dividend Hike
- Siemens Joins 8 Industry Partners (Including Allianz) to Counter Cyber Attacks
- UK Supports Post-Brexit Mutual Recognition System for London’s Financial Services
- London Will Be Weakened as Financial Center After Brexit, Warns Bundesbank Exec
- AFL Insurance Brokers Taps JLT’s Rowland, Alston Gayler’s Cavani for Property Team
- Brit Expands Capacity for Bermuda Sidecar Versutus & Lloyd’s Syndicate 2988
- Peak Re to Get Capital Boost After Prudential Financial Buys 13.1% Stake: A.M. Best
- Gas Trading Platform Pegas Developing Temperature Products to Hedge Weather Risks
- XL Group’s McGavick Cuts Exposure to Hedge Funds to Boost Investment Yield
- Help Wanted: Data Protection Officers to Aid Anxious Firms with EU Data Law
- Allianz Raises Stake in Credit Insurer Euler Hermes to 92.43%
- UK’s Pool Re Launches Terrorism Risk Assessment Tool to Help Insureds Cut Premiums
- Marine P&I Clubs Face Intense Pricing Pressures in February Renewals: A.M. Best
- London Unprepared to Be Early Adopter of Autonomous Vehicles: Report
- Bank Danamon Indonesia’s Insurance Unit ‘Attracts Interest’ From Foreign Suitors
- XL Catlin Promotes Powell to Chief Underwriting Officer for International Financial Lines
- Billionaire Chief of SoftBank Bets on Autonomously Driven World: Opinion
- Nexus Acquires D&O and Financial Institutions MGA Apsley Specialty
- Ryan Specialty Group Agrees to Buy UK P&I MGA Lodestar Marine from Tawa
- Hub International Acquires Canadian Broker Kindersley Insurance
- Liberty Specialty Markets’ French Operation to Expand Product Range, Increase Team
- ArgoGlobal Launches Lloyd’s Market Motor Treaty Consortium, Supported by Barbican
- Aspen Looks to Rebound from ‘Considerable Poor Performance’ by Insurance Unit
- First-Hand Knowledge of Industry’s Problems Led to Idea for InsurePal’s Social Proofing
- Distributed Social Proof Insurance: The Next Industry Game-Changer?
- BHSI Opens Dubai Office, Names Cerase & Yadvendu to Head Middle East Region
- Brokerslink Appoints Legrand as CEO, Succeeding Fonseca
- January Windstorms to Cost Europe’s Insurers More Than $2B: Aon
- Sompo International to Buy Italian Agriculture Insurer A&A
- From Bermuda to Switzerland, Reinsurers Lure Variety of Potential Investors
- North-South Korea Tensions, Cyber Threats Worry Insurers of Olympics
- Hiscox Names Walter as CEO Hiscox Global Retail, Langan as CEO of Hiscox USA
- Zurich Insurance Raises Dividend as Cost Cuts Bear Fruit
- Everest Insurance Hires Aspen’s Sanders to Lead Europe Credit & Political Risk Business
- Insurance Not Only Industry Facing Disruption from Driverless Vehicles
- XL Group Attracts Interest from Allianz, Other Rivals as Potential Buyers
- Japan’s SoftBank in Talks to Buy Stake in Swiss Re
- UK Supermarket Group Tesco Faces Potential Equal Pay Claims of Up to $5.6B
- XL Catlin Promotes MacColl as Global Practice Leader for Hull, Succeeding Talbot
- Aon Securities Structures Largest-Ever Earthquake Catastrophe Bond for World Bank
- Bangladesh to File Suit Against Philippines Bank over $81M Cyber Heist
- Nearly 75% of Organizations in 5 Countries Fail in Cyber Security Readiness: Hiscox
- Magnitude-6.0 Quake Hits Taiwan; at Least 6 People Killed, More Than 200 Injured
- UK Businesses Issue ‘Urgent Appeal’ for More Clarity on Brexit Blueprint
- India Flags Low Health Insurance Penetration as Damper to Growth
- China’s ‘Biggest Fiscal Risk Is Pension Risk’ from Aging Population
- Siccardi Appointed Chief Operating Officer of Aon Benfield UK
- Brexit Transitional Deal Needed by End of March, Says FCA’s Bailey
- Technology Partnerships Key to Insurance Industry’s Exit from `Stone Age:’ Aviva CEO
- AIR Worldwide Names Liberty Mutual’s Grenier to Head Global Resilience Practice
- UK Finance, Insurance Industries Set Export Record
- Why Workplace Sexual Harassment Is Under-Reported: SHRM Survey
- China’s Services Sector Including Insurance Off to Flying Start in 2018
- More Than 1,000 South African Gold Miners Rescued
- Japan’s Peer-to-Peer Vouch Insurtech Raises Seed Funding
- Incumbent Re/Insurers Drive Insurtech Investments in Q4 2017: Willis Towers Watson
- More Hackers Target Red-Hot Cryptocurrency Space: Report
- Volante Launches Nordic-Focused MGA, Bridge Underwriting, Led by QBE’s Lindberg
- Allianz to Acquire Sri Lanka’s Janashakthi General Insurance for €85.9M
- Run-Off Specialist Armour Group Acquires Gibraltar’s Elite Insurance
- French Dairy Group Likely Sold Contaminated Baby Milk for Years; Multiple Suits Filed
- London Market Single Claims Agreement Launched to Improve Claims Handling
- Tokio Marine Kiln Taps Jomaa from CFC as Cyber Underwriter
- Cape Town Companies Threatened by Water Shortages After Record Drought
- Legal Marijuana Worries Canadian Oil Companies with Strict Drug Testing Regimes
- Timeline: Growing List of Major Cryptocurrency Heists
- Insurers Begin to Offer Cryptocurrency Theft Cover, Tackling Risks of Growing Sector
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