International & Reinsurance News for March 2018
- Integro to Buy Lloyd’s Broker Tysers; Integro’s UK Wholesale Unit to Use Tysers’ Brand
- Specialty Insurer Fortegra Financial Corp. Launches EU Subsidiary in Malta
- UK Regulators Seek to Reassure Insurers, Banks About Brexit Transition Period
- Former Chairman of China’s Anbang Pleads for Leniency in $10B Fraud Trial
- China’s Ping An Plans $3B IPO of Financial Management Portal OneConnect: Sources
- SoftBank Edges Closer to Buying Swiss Re Stake, Valued at $9.6 Billion: Sources
- Hanover Insurance Weighs Selling London Specialty Unit Chaucer
- AIG Launches Travel Insurance on Demand App in Canada
- Arctic Winter Ice Covers 2nd Smallest Area on Record, Opening Region to Shipping
- Final Loss Estimate for Australia’s Cyclone Debbie Is A$1.7B (US$1.3B): PERILS
- Brexit Effect: Fewer UK Financial Services Jobs Expected to Shift to EU, Says Reuters
- How Will London’s Position as Global Financial Center Be Affected by Brexit?
- Biggest Scandinavian Bank Lowers Debt Costs for Firms with Strong Cyber Defenses
- Anbang’s Former Chairman Goes on Trial, Accused of Masterminding $10.4B Fraud
- Markel Canada Appoints Crozier from Everest as President
- More than 50,000 British Drivers Initiate ‘Dieselgate’ Suit Against VW
- Cyber Attacks Pose Biggest Threat to Swiss Financial System: Regulator
- TMK Launches Cyber & Services Cover to Help Combat Evolving Cyber Threat
- Brazil Adopts Law Regulating Ride-Hailing Apps, with Insurance Requirement
- Mastermind Behind ATM Malware Attacks Arrested in Spain
- Ocean International Reinsurance Opens Representative Office in Mexico
- Blockchain Insurance Industry Initiative, B3i, Forms Company Called ‘B3i Services’
- Aon’s Mullen to Re-Join Artex Risk Solutions as CEO
- Cash-Strapped Papua New Guinea Gov’t Struggles to Help Desperate Quake Survivors
- Endeavour Expands Capability of Claims Platform Used by Canadian Coverholders
- Legacy Acquirer DARAG Forms Partnership with Asset Manager New Nordic Advisors
- BHSI Opens Perth Office; Chubb’s Prindiville & Shepard Named P/C Underwriters
- Hamilton Re’s Chief Underwriting Officer Lefebvre to Leave Company
- Chinese Tech Giant Baidu to Test Self-Driving Cars in Beijing
- Bank of England Will Soon Update Insurers, Banks on Latest Brexit Approach
- Attritional Losses Take Their Toll at Lloyd’s, Along with 2017’s Natural Catastrophes
- Cloud-Based Insurtech Startup Insly Raises €2.2M ($2.7M) in Funding
- China’s Fosun Still Interested in Acquiring Greek Insurer if Winning Bid Collapses
- Pool Re to Extend Terrorism Cover to Include Non-Damage Business Interruption
- European Insurtech Investment Growth Surpasses North America in 2017: Accenture
- Driving in Snow: Difficult for Humans and Driverless Cars
- Facebook Will Dodge EU’s Tough New Data Rules – as GDPR Is Effective in May
- Aon Benfield Bermuda Hires Carpenter’s Meyenhofer as CEO; Fox & Davies Promoted
- Deloitte Taps Europol’s Wainwright to Help Run Cyber-Security Practice
- Low Back Pain, Which Affects 540 Million Worldwide, Often Mistreated
- UK Broker Group BIBA Forms Agreement with WBN to Help EU Clients After Brexit
- Chipmaker AMD to Release Patches to Fix Microprocessor Vulnerabilities
- Lloyd’s CEO Warns Insurance Policies’ Continuity at Risk Under Brexit
- Foreign Insurers Benefit as China Tightens Rules on Local Firms
- China Names Guo to Head New Insurance, Banking Regulatory Commission
- Pembroke Managing Agency Gets Nod to Manage Lloyd’s Syndicate for India’s GIC Re
- Grandisson Named CEO of Arch Capital, Succeeding Iordanou Who Has Retired
- Gallagher Bassett Appoints Simon Pemberton as UK Chief Executive Officer
- New European Privacy Rules (GDPR) Pose Major Challenge for Facebook
- Uber Drivers in Turkey Fear for Lives After Alleged Attacks by Traditional Cab Drivers
- AXA Investment Managers Bullish About Europe as Asian Investors’ Interest Grows
- UK Insurers, Banks Push Ahead with Relocating HQs – Despite Brexit Transition Deal
- EU Eyes Offering `Improved Equivalence’ for UK Financial Services After Brexit
- UK Government, Regulators to Examine Potential Risks from Cryptocurrencies
- UK, EU Agree to 21-Month Brexit Transition Period; Clock Starts Ticking in March 2019
- Wildfires in Southeast Australia Destroy More Than 70 Homes, Kill Livestock
- Brit Names Walker from Marsh as Head of UK Property
- Climate Change Worsens Effects of Natural Disasters, Costing Farmers Billions of Dollars
- XL Catlin Introduces Brexit Continuity Clause to Address Risk of Loss of EU Passporting
- Door From London’s Deadly Grenfell Tower Fails Fire Safety Test
- Lloyd’s Broker Endeavour Taps Bloodstock Specialist Stonehatch as Appointed Rep
- Luxembourg Aims to Attract More Insurers Seeking Post-Brexit Headquarters
- Equifax Sued by Australia’s Competition Regulator for Allegedly Misleading Consumers
- Aviation Gets Off to Deadly Start in 2018 with 3 Crashes in 4½ Weeks
- China’s 2nd Largest E-Commerce Firm, JD.com, Seeks to Expand in Insurance, Banking
- Markel International Ceases Writing London Open Market Property Business
- UK Broker BMS Launches Innovation Lab to Drive Company, Industry Transformation
- Ride-Hailing Firm Grab Aims to Be Major Financial Services Player in SE Asia
- Marsh Joins Enterprise Ethereum Alliance to Support Open Source Blockchain Standards
- ArgoGlobal Taps Chaucer’s Bull, QBE’s Garcia-Anton Lopez for Casualty Team
- Law Firm at Center of Panama Papers Tax Evasion Scandal to Shut Down
- London’s Future as Financial Center Uncertain Due to Brexit: UK Regulator
- Munich Re Eyes Purchase of London Property, Which Could Become UK HQ: Sources
- Nepal Plane Crash Followed Confused Chatter Between Pilot, Control Tower
- Flaws in AMD Chips Make Them Vulnerable to Hacks: Israeli Cyber Security Firm
- Argo Group Acquires Italian Specialty Insurer Ariscom
- Canopius Appoints Exari’s Davison as COO and Meyer from Brit as CFO
- Odyssey’s Newline Group Opens Unit in Canada with Focus on SMEs
- Chubb to Provide Drivers’ Products for SE Asian Transportation/Fintech Platform Grab
- Anglo American’s Ruptured Pipeline Is 2nd Mine Incident in Brazil in 2018
- AFL Insurance Brokers Launches Marine Division, Hires Mott from Ed to Lead Unit
- Michigan-Based Broker Acrisure Completes Acquisition of UK-Based Beach
- Barbican Names McGurk from Standard’s Syndicate 1884 as D&O Class Underwriter
- Global Fisheries’ Output to Drop by 20% by 2300 if Global Warming Isn’t Slowed: Study
- UK Insurtech Flock Launches Pay-As-You-Fly Drone Insurance
- China to Merge Banking, Insurance Regulators in Big Government Shake-Up
- XL Catlin Taps Uhlmann from Zurich to Lead Canada Insurance Business
- Beach Forms Specialty/Wholesale Unit to Be Led by Sutton & Humphreys from Integro
- Contamination Found at Norsk Hydro’s Alumina Refiner in Brazil, Say Researchers
- S. Africa Class Action Planned Against Food Producer Tiger Brands After Listeria Outbreak
- Zurich Accelerates Growth of Cover-More Travel Insurance Unit with LatAm Acquisitions
- Hard Brexit Would Cost UK, EU Firms $80B with UK Financial Services Worst Hit: Report
- WTW’s New Global Ecosystem Resilience Facility Provides Finance, Risk Mgmt Solutions
- Centerbridge-Led Consortium Completes $952M Acquisition of Canopius from Sompo
- Arctic Has Warmest Winter with Sea Ice at Record Lows: Weather Data
- Number, Complexity of Cyber Attacks Rising: Dutch Intelligence Agency
- Coincheck Will Start Compensating 260,000 Victims of $500M Cryptocurrency Heist
- UK/EU Financial Services Industry Could Deal with ‘Hard Brexit,’ Says Official
- Sanlam Looks for More African Deals After $1.1B Investment in Morocco’s Saham
- Castel Bloodstock Secures New Binder with Lloyd’s Capacity
- Aon Benfield Taps Paire & Karhan from Carpenter for Capital Advisory, Terrorism Specialty Units
- Barbican Strengthens Cyber Cover with Incident Response, Phishing Exercises
- Papua New Guinea Faces Long Road to Recovery After Quake; Death Toll Passes 100
- Here Are Some Post-Brexit Scenarios for UK Financial Services
- Hub International Acquires Manitoba-Based Desilets Insurance Brokers
- S&P Places AXA on CreditWatch Negative over Its Plans to Buy XL Group for $15.3B
- Greenlight Capital Re Launches Innovation Unit
- Sanofi Executive, Fired in France for Sexting, Sues for $1.5 Million
- WEF Helps Create Fintech Cyber Security Consortium; Members Include Zurich, Citigroup
- AEGIS London Appoints Trudeau from Crawford & Co. to Manage Canadian Claims
- SMEs Need to Ready for Cyber Battle: Endeavour’s Loizides
- Romanian Firm UiPath Ascends as Leader in Automating Business Tasks Such as Claims
- Legacy Acquirer DARAG Completes Purchase of Sweden’s IKANO Försäkring
- EC Insurance Begins to Transfer Business to Markel International Paper, After Acquisition
- Kobe Steel CEO to Resign Over Data Fraud Scandal as Report Finds More Cases
- How AXA Wooed and Won XL Group in $15.3B Takeover Deal
- PERILS Revises Loss Estimate for Europe’s Windstorm Zeus to €272M ($335.1M)
- Sompo International to Launch Specialty Operation in Spain; Executive Team Named
- Some U.K. Professional Firms ‘Understate’ Gender Pay Gap as New Data Law Looms
- UK’s Prime Minister Defends Decision to Reject EU ‘Passporting’ for Insurers, Banks
- Manchester Underwriting Acquires Pelican Underwriting from Asta Capital
- Chubb Global Markets Appoints Hiscox’s Rowley as Senior Underwriter Financial Lines
- XL Group CEO McGavick Comments on Firm’s Agreed Purchase by France’s AXA
- ExxonMobil Says Papua New Guinea LNG Plant to Be Closed for 2 Months After Quake
- France’s AXA to Acquire P/C Insurer XL Group for $15.3 Billion
- Hub International Acquires Ontario-Based GMS Insurance
- XL Catlin Insurance Taps AXA’s Hanna as Head of Central Broker Management
- S&P Lowers RenRe Holdings’ Ratings by One Notch on Competitive Pressures
- Generali Evaluates Offers for Its $49B German Life Insurance Portfolio: Sources
- Exxon Mobil’s Airstrip in Papua New Guinea Heavily Damaged After Earthquake
- RMS Appoints Silicon Valley Executive White as CEO, Succeeding Shah
- German Government Marshals Defenses Against Powerful Cyber Attack
- Nippon Life Agrees to Buy 85% Stake in MassMutual’s Japan Unit for $980M
- 20-Plus Insurers, Banks & Fund Firms Select Luxembourg as Post-Brexit HQs
- UAE-Based Cyber Security Firm DarkMatter Doubles Revenue in 2017 to $400M
- Colombia’s Grupo Sura to Invest $150M in Its LatAm Insurance, Pension Interests
- Weather, Road Damage Slows Relief Efforts After Papua New Guinea Quake
- Exxon’s LNG Plant in Papua New Guinea Could Be Shut for 6 Weeks After Quake
- Pool Re Extends Retrocession Program to $2.9B with Cyber Terrorism Now Covered
- Christian Named Aon Benfield’s Global Chairman; Page Promoted to CEO of Aon UK
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