International & Reinsurance News

Chubb Launches Global Transactional Risk Platform to Grow International Footprint

Chubb announced the launch of a global transactional risk platform to provide transactional risk liability insurance products across international markets. Chubb has appointed Josh Cowen as senior vice president, International Transactional Risk, to lead this initiative from London. Cowen, a …

Agile Underwriting Gets ‘In-Principle’ Approval to Launch Lloyd’s Syndicate

Agile Underwriting Services has received “in-principle” approval from Lloyd’s to create Agile Syndicate 2427, subject to regulatory approvals. Syndicate 2427 will be established under the “syndicate-in-a-box” (SIAB) framework and be managed by Asta through its third-party managing agency platform at …

Hyundai and Kia to Recall Nearly 170,000 EVs Over Software Problem in South Korea

Hyundai Motor Co. and sister company Kia Corp. will recall about 170,000 electric vehicles (EVs) in South Korea over problems with software in the charging systems, South Korea’s transport ministry said on Thursday. Hyundai will recall 113,916 EVs in the …

India’s Navy Takes Control of Bulk Carrier Hijacked by Somali Pirates, Evacuating Crew

The Indian navy said late Saturday that it had taken control of a bulk carrier hijacked by Somali pirates and evacuated the 17 crew members on the vessel. In a statement on X, the navy said all 35 pirates on …

Treasury Asked Why US P&I Club Insures Ships Carrying Iran Oil

A Republican congressman is asking the Treasury Department to explain its handling of a US insurance company that covered dozens of tanker ships suspected of carrying sanctioned Iranian oil. Representative Zach Nunn of Iowa, a member of the House Financial …

Pressure Builds for Charge on Global Shipping Sector’s CO2 Emissions

The European Union, Canada, Japan and climate-vulnerable Pacific Island states are among 47 countries rallying support for a charge on the international shipping sector’s greenhouse gas emissions, documents reviewed by Reuters showed. The documents, being discussed at an International Maritime …

Uber Pays Australian Taxi Drivers $178 Million in Settlement

Uber agreed to pay A$271.8 million ($178 million) to compensate thousands of taxi drivers in Australia who claimed they lost income when the ride-share company entered the local market. Uber Technologies Inc. settled the class action brought by more than …

Lockton Partners With Food Science Specialist to Mitigate Risk in Food & Drink Sector

Insurance broker Lockton announced a collaboration initiative with the food science company Campden BRI, a leading food science company, to support the food and drink industry and provide key risk mitigation and management support in the face of an evolving …

Hamilton Insurance Group Sponsors Catastrophe Bond Easton Re

Hamilton Insurance Group Ltd., the Bermuda-based re/insurer, announced the sponsorship of a new catastrophe bond through the issuance of Series 2024-1 notes by Easton Re Ltd. Easton Re will provide the company’s operating platforms with risk transfer capacity of $200 …

EU Backs Supply Chain Audit Law After Italy Switches Sides

European Union governments backed a proposed law requiring large companies in the bloc to check if their supply chains use forced labor or cause environmental damage after Italy switched sides. A “qualified majority” of 15 EU countries making up 65% …

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