International & Reinsurance News for April 2016
- Aon Reports 4% Drop in Q1 2016 Net Income to $315 Million
- Hackers in Bangladesh Bank Cyber Heist Pocketed About $70M; NY Fed Criticized
- HSB BI&I of Canada Offers Equipment Breakdown Cover for Microelectronics
- Zurich Canada Appoints Healey as Sr. VP, Distribution & Regional Management
- Swiss Re Q1 Net Income Down 15% to $1.23B; New Head of Reinsurance Named
- Willis Capital Markets & Advisory Appoints Lien as Managing Director, Hong Kong
- French Startup Drivy (‘Airbnb for Cars’) Raises $35M to Expand; Insured by Allianz
- Volvo to Launch Autonomous Driving Trial in London in 2017
- PERILS Joins Singapore’s NatCatDAX, Aiming to Close Asia Nat Cat Protection Gap
- Lloyd’s Market Urged to Use Oasis Open-Source Cat Models for Wider Risk View
- Captive Manager Marsh IAS Promotes 2 Senior Leaders in Bermuda
- Munich Re Issues First Quarter Profit Warning on Lower Equity Investments
- Global Insurance Fintech Investment Grew by 237% in 2015: Accenture Research
- Aon Launches Next Generation of ReMetrica for Risk & Capital Modeling
- Global Risk Partners Backs LONMAR’s MBO, Supporting Its Growth Strategy
- Mitsubishi Motors Faces Uncertain Future as Fuel Test Scandal Deepens
- Aspen Re Appoints Cardona as Managing Director for Latin America & Caribbean
- Japan Aims to Beef up Nuke Safety Check Competency After Bad Review
- Reconstruction of Quake-Damaged Heritage Sites Begins in Nepal
- Economic Property Damages of Japan Earthquakes to Cost $2.5B-$3.5B: RMS
- Australia Nears Record for Fewest Cyclones Since 1970 – Thanks to El Niño
- Bangladesh Bank Cyber-Heist Hackers Exploited Vulnerabilities in SWIFT Software
- Factbox: An Overview of Effects of ‘Brexit’ on UK Financial Services
- Carpenter Promotes Stubbings as CEO of Bermuda Unit; Keegan Named Sr. VP
- Aspen Q1 Operating Income Decreases to $89.9M from $98M in Q1 2015
- India’s 1st Insurer IPO Paves Way for More Public Offerings in $60B-Plus Industry
- Hiscox Appoints Hussain as Group Chief Financial Officer
- SCOR Increases P&C GWP Levels by 4.7% During April Renewals; Profits on Target
- Obama Makes Impassioned Appeal for Britain to Stay in European Union
- Ecuador to Raise Taxes, Sell Assets to Fund Multi-Billion Dollar Quake Rebuilding
- Chubb Tempest Re Names Lee-Amies Head of Marine & Energy, Succeeding Neave
- China Suspends New Registrations of Internet-Based Finance Firms: News Report
- Ruschlikon Expands Global Reach in 2015; Use of ACORD Standards Rises 20%
- Allied World’s Q1 Investment Income Rises 20%; Combined Ratio Worsens to 96%
- Willis, Aon and Verisk Agree: Q1 Cat Bonds Hit Record Issuance
- Japanese Earthquakes Could Cost Insurers $2.9 Billion: AIR Worldwide
- Unaddressed Cultural Clashes Cause Many M&A Failures: Willis Towers Watson
- Heaven Moves from Aon to Markel International’s Credit & Political Risk Division
- Global Financial Leaders Warn About Dangers of Negative Interest Rates
- Catastrophe Exposure Grows with Selective Use of Alternative Capital: A.M. Best
- CGSC Appoints Wallin as Group Commercial Director with M&A Expertise
- AmTrust Seeks to Boost Lloyd’s Presence with Purchase of Specialty Insurer ANV
- ‘Brexit’ Will Risk London’s Role as Top Financial Center: Bank of England’s Carney
- AXA & Chaucer Form Strategic Partnership to Provide African Specialty Insurance
- XL Catlin Appoints Guest as Country Manager Singapore – Insurance
- White Mountains Closes $2.6B Sale of Sirius to China Minsheng Investment
- XL Catlin Exec Heads Public-Private Forum to Close ‘Protection Gap’ for Disasters
- Advent Solutions to Create $100M Business in Global Delegated Authority Market
- Bangladeshi Investigators Identify 20 Foreign Suspects in Cyber Bank Heist
- EU Contributes $15.8M to Caribbean Catastrophe Risk Insurance Facility
- Hearn of CGSC to Become CEO of Lloyd’s Broker CGNMB After Newman Retires
- Ecuador Earthquake’s Death Toll Rises; AIR Worldwide Comments
- Death Toll Rises from Japanese Earthquakes; Supply Chain Disruptions Examined
- Most U.K. Public Companies Haven’t Formed ‘Brexit’ Contingency Plans: Survey
- Chubb Enters into Distribution Agreement with Chinese Retail Giant Suning
- Sony’s Camera Chip Factory Halts Production After Japan Temblor; AIR Comments
- OdysseyRe’s Newline Group Announces 2 Executive Appointments in Asia
- Bangladesh Hack Opens Door to Attacks on Financial Institutions: Cyber Expert
- ING Completes Exit From Former Insurer Unit, NN Group, with $1.6B Stock Sale
- XL Catlin Hires Gouraud as Head of Strategic Client & Broker Mgmt. – Insurance
- Verisk Analytics Acquires Risk Intelligence Ireland, Expanding Global Footprint
- London-Based Markel International Simplifies Structure of Wholesale Business
- Reinsurers’ Results Are Strong – but Can Good Fortune Continue? Asks A.M. Best
- Lockton Opens Morocco Office, Based in Casablanca Finance City
- Aquiline Capital to Buy UK’s Simply Business, an Online Small Business Brokerage
- Swiss Re and UK’s Legal & General Weigh Bids for Deutsche Bank’s Abbey Life
- Hamilton Underwriting at Lloyd’s Names Prince as Head of Professional Indemnity
- Europe Terrorist Attacks in 2015 ‘Most Lethal’ in Nearly a Decade: Aon Risk Map
- Simplifying Derivatives Rules Will Help Regulators Spot Systemic Risks: Industry
- Sompo Japan in Talks to Sell Insurance in Malaysia via CIMB Branches: Sources
- Greek Shipowner Arrested for Fraud After Insurers Question Alleged Pirate Attack
- AXA in Talks to Sell Most of UK Life Insurance & Wealth Investment Units: Sources
- Many Chinese Patients Forced to Buy Hospital Appointment Tickets from Scalpers
- Hedge Fund Managers Benefit from Fee-Paying Reinsurer Units
- Low Interest Rates, Soft Market Pricing Hit London Market Insurers: Fitch
- Skuld Lloyd’s Syndicate 1897 Appoints 2 Marine Hull Underwriters
- BAE Uses Cyber Skills Developed in British Intelligence Services to Help Clients
- Cyber Criminals Reap Billions of Dollars via Email Scams Across the Globe
- Aspen Re Opens Dubai Hub; Senior Appointments Announced
- Plenum Launches Diversified ILS Fund, Partnering with Bermuda’s Sequant Re
- Hamilton Underwriting Names Osorio as Head of Property Direct & Facultative
- Aegon to Sell $8.5B of U.K. Annuity Portfolio to Rothesay Life, to Free Up Capital
- Beazley & Munich Re to Offer Broad Cyber Cover for Large Global Companies
- Woods Named UK’s Head of Prudential Regulation, Overseeing Insurers & Banks
- FACTBOX: Meteorologists Predict 2016 Hurricane Season Will Be More Active
- Vollert Appointed CEO of AXA Germany, Joining from Allianz in September
- Ironshore’s Pembroke Agency Expands UK Financial Institutions’ D&O Cover
- UK’s Allianz Commercial Doubles Excess Liability Capacity to £50M ($70.5M)
- Catastrophe Reinsurance Prices Will Continue to Drop This Year: Swiss Re
- Negative Outlook for Energy Insurers May Force Sector Exit: Willis Towers Watson
- London MGA, Pardus, Raises £1.6M ($2.3M) to Facilitate Next Phase of Growth
- Antares Lloyd’s Syndicate Partners with Iron-Starr, Ironshore’s Bermuda MGA
- AIG Weighs Cutting Nearly 125 U.K. Jobs, in Plan to Reduce Costs: Sources
- Fintech Revolution May Threaten 250,000 Jobs as Europe Insurers Seek Cost Cuts
- UK-Based THB, Secures Motor Fleet Arrangement with Unicorn Underwriting
- Alternative Capital Up 12%, Traditional Reinsurance Drops 4% in 2015: Aon Report
- PartnerRe Names Former EXOR Managing Director, Bonaccorso, as CFO
- ‘Brexit’ May Threaten UK Shipping, Marine Insurance Sectors
- Anbang Insurance to Acquire Allianz’s South Korea Operations
- Talbot & Markel Offer D&O Facility in MEA Region with Per-Risk Capacity of $30M
- ArgoGlobal Appoints Summers as Credit and Political Risks Underwriter
- Ageas Completes Acquisition of AXA’s Portuguese Business for $215.2 Million
- Aon Benfield Launches Global Reinsurer Trading Platform with Real-Time Data
- PIMCO Legal Filing Accuses ‘Bond King’ Gross of ‘Abusive’ Conduct
- AXA Completes Acquisition of Charter Ping An Insurance in Philippines
- Delta Lloyd Says It Didn’t Offer Incentives to Get Support for $738M Rights Offer
- UK’s Flood Re Launches to Bring Affordable Flood Cover to Homeowners
- Novae Launches Construction Unit with Appointment of Cross
- Ryan Direct Group Completes Acquisition of Midas Underwriting
- ‘Brexit’ Would Hurt or Severely Damage Lloyd’s of London: Survey
- EU Lowers Insurers’ Capital Requirements to Spur Infrastructure Investments
- April Renewals Saw More Price Cuts, but Reinsurance Demand Rises: Willis Re
- Tokio Millennium Re Appoints Kull as Chief Risk Officer
- Lloyd’s Seeks to Open Reinsurance Branch in Mumbai, India
- Islamic Militants Could Target Nuclear Industry, Security Experts Warn
- Ontario Teachers’ Pension Plan (Lead ANV Investor) Assesses ‘Brexit’ Effect
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