International News

Lloyd’s Appoints SCOR’s Mitchell-Wallace as Head of Risk Aggregation

Lloyd’s, the specialist insurance and reinsurance market, announced Dr. Kirsten Mitchell-Wallace has been appointed as the head of Risk Aggregation. The role reports to Jon Hancock, the director of Performance Management, and is responsible for leading the strategy and day …

AXIS Capital to Complete Acquisition of Novae Group in October

AXIS Capital Holdings Ltd. said it will complete its acquisition of London-based Novae Group plc in two phases, beginning with the acquisition of Novae shares, which is expected on Oct. 2, 2017. This will be followed by management control and …

Deloitte Targeted by Hackers Accessing Data From Internal Email Platform

Following record results that flagged the growth of its cyber security business, Deloitte LLP has revealed that it has been successfully targeted by a cyber attack that let hackers access data from an internal email platform. The auditing and consulting …

Chubb’s Launches Business Pack Insurance for Australian SMEs

Chubb has launched a package insurance solution called Chubb Business Pack Insurance for small and medium enterprises in Australia. This solution aims to provide broad coverage for property and liability exposures to help protect business owners from a range of …

S&P Assigns Odyssey Re Europe with ‘A-‘ Rating, Stable Outlook

S&P Global Ratings has assigned its ‘A-‘ long-term financial strength rating to Odyssey Re Europe S.A. (ORESA), with a stable outlook. The rating on ORESA is based on an explicit guarantee provided by Odyssey Reinsurance Co., which has an ‘A-‘ …

Lloyd’s Broker AFL Creates Energy Practice Led by Quick & Pearce from Tysers

AFL Insurance Brokers Ltd. (AFL) has created an energy practice headed by London market broking professionals Dominic Quick and Simon Pearce. AFL’s energy practice will serve both AFL’s clients and customers from other independent brokers connected to AFL through the …

Japan Post’s Stock Sale Raises $11B, but Demand Is Subdued

A government sale of Japan Post Holdings Co. stock raised $11 billion in the world’s second-biggest share sale this year, with the postal and financial giant’s attractive dividend yield helping drum up sufficient, albeit subdued, demand. The stock priced at …

Bank of England Seeks Brexit Deal to Cover Derivative, Insurance Contracts

The Bank of England said an agreement is needed as part of the Brexit process to protect the “long-term validity” of 20 trillion pounds ($27.1 trillion) of existing derivative contracts. The BOE’s Financial Policy Committee said on Monday that after …

U.S. and EU Sign Covered Agreement on Insurance Regulation

The United States and European Union have scheduled a ceremony for today for the signing of a bilateral agreement on prudential insurance and reinsurance measures. Both sides announced in July their intention to sign the agreement, also known as a …

XL Catlin in Iberia Taps Marsh’s Herrero as Head of Political Risk, Credit & Bond

XL Catlin’s insurance operation in Iberia announced new local underwriting capabilities with the appointment of Santiago Herrero as head of Political Risk, Credit & Bond (PRCB) – Iberia. Herrero will be based in Madrid and reports to Dan Riordan, XL …

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